The aim of this text is to: (a) make economics understandable, (b) illustrate the power and relevance of economics to our daily lives, and © explain why both individuals and nations prosper. Throughout, we seek to communicate basic and, in some cases, fairly complicated idedas in a clear and understandable manner. Clarity is a major objective, but simplicity is not substituted for in-depth analysis. We do not accept the view that economics must be either difficult or "watered down." Instead, we believe that a clear and under standable writing style reinforced with examples, illustrations, and visual aids can make the subject come alive in a way that will capture the interest of even the beginning studet.
Part 1 The Economic way of Thinking
Chapter 1 The Economic Approach
Chapter 2 Some Tools of the Economist
Part 2 Markets and Government
Chapter 3 Supply, Demand, and the Market Process
Chapter 4 Supply and Demand: Applications and Extensions
Chapter 5 Difficult Cases for the Market and the Role of
Government
Chapter 6 The Economics of Collective Decision Making
Part 3 Core Microeconomics
Chapter 7 Consumer Choice and Elasticity
Chapter 8 Costs and the Supply of Goods
Chapter 9 Price Takers and the Competitive Process
Chapter 10 Price-Searcher Markets with Low Entry Barriers
Chapter 11 Price-Searcher Markets with High Entry Barriers
Chapter 12 The Supply of and Demand for Productive
Resources
Chapter 13 Earnings, Productivity, and the Job Market
Chapter 14 Investment, the Capital Market, and the Wealth
of Nations
Chapter 15 Income Inequality and Poverty
Chapter 16 Gaining from International Trade