Organization of This Book

The text below with annotations is as follows.

New paragraph. Part I: Foundations of Economics

Chapter 1: The Core Principles of Economics, Chapter 2: Demand: Thinking Like a Buyer, Chapter 3: Supply: Thinking Like a Seller, Chapter 4: Equilibrium: Where Supply Meets Demand (A margin note reads, Learn the four principles of economics that create a decisionmaking framework to help you better understand demand, supply, and equilibrium and build a solid foundation for economic analysis. End note.)

New paragraph. PART II: Analyzing Markets

Chapter 5: Elasticity: Measuring Responsiveness, Chapter 6: When Governments Intervene in Markets, Chapter 7: Welfare and Efficiency, Chapter 8: Gains from Trade (A margin note reads, Use supply and demand analysis to measure market responsiveness, examine the effects of government intervention, evaluate welfare, and understand the gains from trade. End note.)

New paragraph. PART III: Applications and Policy Issues

Chapter 9: International Trade, Chapter 10: Externalities and Public Goods, Chapter 11: The Labor Market, Chapter 12: Wages, Workers, and Management, Chapter 13: Inequality, Social Insurance, and Redistribution (A margin note reads, Apply the economic lens to explore the consequences of global trade, examine market failures that arise from externalities, analyze the labor market, and assess inequality and poverty. End note.)

New paragraph. PART IV: Market Structure and Business Strategy

Chapter 14: Market Structure and Market Power, Chapter 15: Entry, Exit, and Long-Run Profitability, Chapter 16: Business Strategy, Chapter 17: Sophisticated Pricing Strategies, Chapter 18: Game Theory and Strategic Choices. (A margin note reads, Move beyond perfect competition and learn how managers make strategic decisions in imperfectly competitive markets. End note.)

New paragraph. PART V: Advanced Decisions

Chapter 19: Decisions Involving Uncertainty, Chapter 20: Decisions Involving Private Information (A margin note reads, Learn about the role of risk and information and develop strategies for decision making when information is limited. End note.)

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New paragraph. Part VI: Macroeconomic Foundations and the Long Run

Chapter 21: Sizing Up the Economy Using G D P, Chapter 22: Economic Growth, Chapter 23: Unemployment, Chapter 24: Inflation and Money (A margin note reads, Learn how economists measure economic activity and economic growth, what causes unemployment (and what it costs), and how to evaluate inflation and its consequences. End note.)

New paragraph. PART VII: Micro Foundations of Macroeconomics

Chapter 25: Consumption and Saving, Chapter 26: Investment, Chapter 27: The Financial Sector, Chapter 28: International Finance and the Exchange Rate (A margin note reads, See how individual decisions add up to create macroeconomic outcomes, and learn to make good choices no matter what economic conditions you face. End note.)

New paragraph. PART VIII: The Business Cycle

Chapter 29: Business Cycles, Chapter 30: IS-MP Analysis: Interest Rates and Output, Chapter 31: The Phillips Curve and Inflation, Chapter 32: The Fed Model: Linking Interest Rates, Output, and Inflation, Chapter 33: Aggregate Demand and Aggregate Supply (A margin note reads, Learn about business cycles, then analyze them by applying the same tools that policymakers use (Chapters 30–32) or by taking a more traditional approach (Chapter 33). Your instructor will decide which path to take. End note.)

New paragraph. PART IX: Macroeconomic Policy

Chapter 34: Monetary Policy, Chapter 35: Government Spending, Taxes, and Fiscal Policy (A margin note reads, Get an insider’s view of how macroeconomic policy is made and implemented, and how it affects society. End note.)

New paragraph. Appendix: A Closer Look at Aggregate Expenditure and the Multiplier (A margin note reads, Take a deeper dive into some more traditional material. End note.)