Microeconomics

Chapter 1: Economics: The Study of Choice

• 1.1 Defining Economics
• 1.2 The Field of Economics
• 1.3 The Economists Tool Kit
• 1.4 Review and Practice

Chapter 2: Confronting Scarcity: Choices in Production

• 2.1 Factors of Production
• 2.2 The Production Possibilities Curve
• 2.3 Applications of the Production Possibilities Model
• 2.4 Review and Practice

Chapter 3: Demand and Supply

• 3a Demand
• 3b Supply
• 3c Demand, Supply, and Equilibrium
• 3.4 Review and Practice

Chapter 4: Applications of Demand and Supply

• 4.1 Putting Demand and Supply to Work
• 4.2 Government Intervention in Market Prices: Price Floors and Price Ceilings
• 4.3 The Market for Health-Care Services
• 4.4 Review and Practice

Chapter 5: Elasticity: A Measure of Response

• 5.1 The Price Elasticity of Demand
• 5.2 Responsiveness of Demand to Other Factors
• 5.3 Price Elasticity of Supply
• 5.4 Review and Practice

Chapter 6: Markets, Maximizers, and Efficiency

• 6.1 The Logic of Maximizing Behavior
• 6.2 Maximizing in the Marketplace
• 6.3 Market Failure
• 6.4 Review And Practice

Chapter 7: The Analysis of Consumer Choice

• 7.1 The Concept of Utility
• 7.2 Utility Maximization and Demand
• 7.3 Indifference Curve Analysis: An Alternative Approach to Understanding Consumer Choice
• 7.4 Review and Practice

Chapter 8: Production and Cost

• 8.1 Production Choices and Costs: The Short Run
• 8.2 Production Choices and Costs: The Long Run
• 8.3 Review and Practice

Chapter 9: Competitive Markets for Goods and Services

• 9.1 Perfect Competition: A Model
• 9.2 Output Determination in the Short Run
• 9.3 Perfect Competition in the Long Run
• 9.4 Review and Practice

Chapter 10: Monopoly

• 10.1 The Nature of Monopoly
• 10.2 The Monopoly Model
• 10.3 Assessing Monopoly
• 10.4 Review and Practice

Chapter 11: The World of Imperfect Competition

• 11.1 Monopolistic Competition: Competition Among Many
• 11.2 Oligopoly: Competition Among the Few
• 11.3 Extensions of Imperfect Competition: Advertising and Price Discrimination
• 11.4 Review and Practice

Chapter 12: Wages and Employment in Perfect Competition

• 12.1 The Demand for Labor
• 12.2 The Supply of Labor
• 12.3 Labor Markets at Work
• 12.4 Review and Practice

Chapter 13: Interest Rates and the Markets for Capital and Natural Resources

• 13.1 Time and Interest Rates
• 13.2 Interest Rates and Capital
• 13.3 Natural Resources and Conservation
• 13.4 Review and Practice

Chapter 14: Imperfectly Competitive Markets for Factors of Production

• 14.1 Price-Setting Buyers: The Case of Monopsony
• 14.2 Monopsony and the Minimum Wage
• 14.3 Price Setters on the Supply Side
• 14.4 Review and Practice

Chapter 15: Public Finance and Public Choice

• 15.1 The Role of Government in a Market Economy
• 15.2 Financing Government
• 15.3 Choices in the Public Sector
• 15.4 Review and Practice

Chapter 16: Antitrust Policy and Business Regulation

• 16.1 Antitrust Laws and Their Interpretation
• 16.2 Antitrust and Competitiveness in a Global Economy
• 16.3 Regulation: Protecting People from the Market
• 16.4 Review and Practice

Chapter 17: International Table

• 17.1 The Gains from Trade
• 17.2 Two-Way Trade
• 17.3 Restrictions on International Trade
• 17.4 Review and Practice

Chapter 18: The Economics of the Environment

• 18.1 Maximizing the Net Benefits of Pollution
• 18.2 Alternatives in Pollution Control
• 18.3 Review and Practice

Chapter 19: Inequality, Poverty, and Discrimination

• 19.1 Income Inequality
• 19.2 The Economics of Poverty
• 19.3 The Economics of Discrimination
• 19.4 Review and Practice

Chapter 20: Macroeconomics: The Big Picture

• 20.1 Growth of Real GDP and Business Cycles
• 20.2 Price-Level Changes
• 20.3 Unemployment
• 20.4 Review and Practice

Chapter 21: Measuring Total Output and Income

• 21.1 Measuring Total Output
• 21.2 Measuring Total Income
• 21.3 GDP and Economic Well-Being
• 21.4 Review and Practice

Chapter 22: Aggregate Demand and Aggregate Supply

• 22.1 Aggregate Demand
• 22.2 Aggregate Demand and Aggregate Supply: The Long Run and the Short Run
• 22.3 Recessionary and Inflationary Gaps and Long-Run Macroeconomic Equilibrium
• 22.4 Review and Practice 

Chapter 23: Economic Growth

• 23.1 The Significance of Economic Growth
• 23.2 Growth and the Long-Run Aggregate Supply Curve
• 23.3 Determinants of Economic Growth
• 23.4 Review and Practice

Chapter 24: The Nature and Creation of Money

• 24.1 What Is Money?
• 24.2 The Banking System and Money Creation
• 24.3 The Federal Reserve System
• 24.4 Review and Practice

Chapter 25: Financial Markets and the Economy

• 25.1 The Bond and Foreign Exchange Markets
• 25.2 Demand, Supply, and Equilibrium in the Money Market
• 25.3 Review and Practice

Chapter 26: Monetary Policy and the Fed

• 26.1 Monetary Policy in the United States
• 26.2 Problems and Controversies of Monetary Policy
• 26.3 Monetary Policy and the Equation of Exchange
• 26.4 Review and Practice

Chapter 27: Government and Fiscal Policy

• 27.1 Government and the Economy
• 27.2 The Use of Fiscal Policy to Stabilize the Economy
• 27.3 Issues in Fiscal Policy
• 27.4 Review and Practice

Chapter 28: Consumption and the Aggregate Expenditures Model

• 28.1 Determining the Level of Consumption
• 28.2 The Aggregate Expenditures Model
• 28.3 Aggregate Expenditures and Aggregate Demand
• 28.4 Review and Practice

Chapter 29: Investment and Economic Activity

• 29.1 The Role and Nature of Investment
• 29.2 Determinants of Investment
• 29.3 Investment and the Economy
• 29.4 Review and Practice

Chapter 30: Net Exports and International Finance

• 30.1 The International Sector: An Introduction
• 30.2 International Finance
• 30.3 Exchange Rate Systems
• 30.4 Review and Practice

Chapter 31: Inflation and Unemployment

• 31.1 Relating Inflation and Unemployment
• 31.2 Explaining Inflationâ�“Unemployment Relationships
• 31.3 Inflation and Unemployment in the Long Run
• 31.4 Review and Practice

Chapter 32: A Brief History of Macroeconomic Thought and Policy

• 32.1 The Great Depression and Keynesian Economics
• 32.2 Keynesian Economics in the 1960s and 1970s
• 32.3. An Emerging Consensus: Macroeconomics for the Twenty-First Century
• 32.4 Review and Practice

Chapter 33: Economic Development

• 33.1 The Nature and Challenge of Economic Development
• 33.2 Population Growth and Economic Development
• 33.3 Keys to Economic Development
• 33.4 Review and Practice

Chapter 34: Socialist Economies in Transition

• 34.1 The Theory and Practice of Socialism
• 34.2 Socialist Systems in Action
• 34.3 Economies in Transition: China and Russia
• 34.4 Review and Practice

• Appendix A: Graphs in Economics
• Appendix A.1: How to Construct and Interpret Graphs
• Appendix A.2: Nonlinear Relationships and Graphs without Numbers
• Appendix A.3: Using Graphs and Charts to Show Values of Variables
• Appendix B: Extensions of the Aggregate Expenditures Model
• Appendix B.1: The Algebra of Equilibrium
• Appendix B.2: The Aggregate Expenditures Model and Fiscal Policy
• Appendix B.3: Review and Practice