Part I: Introduction1. Ten lessons from economics2. Thinking like an economist3. Interdependence and the gains from tradePart II: Supply and demand I: How markets work4. The market forces of supply and demand5. Elasticity and its application6. Supply, demand and government policiesPart III: Supply and demand II: Markets and welfare7. Consumers, producers and the efficiency of markets8.

Application: the costs of taxation9. Application: international tradePart IV: The economics of the public sector10. Externalities11. Public goods and common resources12. The design of the tax systemPart V: Firm behaviour and the organisation of industry13. The costs of production14. Firms in competitive markets15. Monopoly16.

Business strategy17. Competition policy18. Monopolistic competitionPart VI: The economics of labour markets19. The markets for the factors of production20. Earnings, unions and discrimination21. Income inequality and povertyPart VII: Topics for further study22. The theory of consumer choice23. Frontiers of microeconomicsPart VIII: The data of macroeconomics24.

Measuring a nation's income25. Measuring the cost of livingPart IX: The real economy in the long run26. Production and growth27. Saving, investment and the financial system28. The natural rate of unemploymentPart X: Money and prices in the long run29. The monetary system30. Inflation: its causes and costsPart XI: The macroeconomics of open economies31. Open-economy macroeconomics: basic concepts32.

A macroeconomic theory of the open economyPart XII: Short-run economic fluctuations33. Aggregate demand and aggregate supply34. The influence of monetary and fiscal policy on aggregate demand35. The short-run trade-off between inflation and unemployment36. Global Financial Crisis 2008 and beyond NEWPart XIII: Final thoughts37. Five debates over macroeconomic policy.