Introduction -- The organization of the book -- I. Microeconomics and the theory of markets -- 1. Demand and supply -- Demand -- Income and wealth -- Prices of other goods -- Tastes -- Expectations -- Supply -- Prices of inputs -- Technology -- Expectations -- Market equilibrium -- Case 1 -- Case 2 -- Case 3 -- Case 4 -- Elasticity -- Sales taxes -- Case 5 -- Case 6 -- 2. The theory of the firm, market structures, factor markets, and the distribution of income -- Perfect competition -- Market failure -- Monopoly -- Price discrimination -- Monopolistic competition -- Oligopoly -- The end of oligopoly? -- Deregulation -- The theory of factor pricing -- The distribution of income -- II. Macroeconomics -- 3. The economy as a whole : definitions and analyses -- Why macroeconomics? -- How gross is the gross domestic product? -- Effective demand -- Households and consumption -- The business sector and investment -- The public sector -- 4. Fiscal policy, monetary policy, recession, and inflation -- Fiscal policy : taxing and spending -- Money is as money does -- Financial markets, the Federal Reserve system, and monetary policy -- Monetary policy -- Business cycles, inflation, and unemployment -- Up, up, up,... -- Down, down, down,... -- Additional aspects of stabilization policy -- Doubts about inflation-unemployment trade-off -- Implications of greater international economic integration -- III. International economics and national economies -- 5. International economics and comparative advantage -- The idea of comparative advantage -- Exchange rates and adjustment mechanisms -- Gold standard -- Flexible exchange rates -- International investment and the balance of payments -- Government policy and the international economy : tariffs, quotas, and exchange rates -- Free trade determining public policy -- 6. The international economy : the rise and fall of Bretton Woods -- The dollar exchange standard, 1944-1971 -- Transnational corporations -- The transformation of the international economy -- The end of the Bretton Woods payments system -- The beginning of a new international economy -- The new international economy -- Two caveats -- A final note on the place of the United States in the global economy -- Appendix A. Input-output economics -- Appendix B. Websites of related interest.
