Contents

Part 1 Introduction
1. Thinking Like an Economist
2. Comparative Advantage: The Basis for Exchange
3. Supply and Demand: An Introduction

Part 2 Competition and the Invisible Hand
4. Elasticity
5. Demand: The Benefit Side of the Market
6. Perfectly Competitive Supply: The Cost Side of the Market
7. Efficiency and Exchange
8. The Quest for Profit and the Invisible Hand

Part 3 Market Imperfections
9. Monopoly and Other Forms of Imperfect Competition
10. Thinking Strategically
11. Externalities and Property Rights
12. The Economics of Information

Part 4 Economics of Public Policy
13. Labor Markets, Poverty, and Income Distribution
14. The Environment, Health, and Safety
15. Public Goods and Tax Policy

Part 5 International Trade
16. International Trade and Trade Policy