Thinking like an economist -- Comparative advantage -- Supply and demand -- Elasticity -- Demand -- Perfectly competitive supply -- Efficiency, exchange, and the invisible hand in action -- Monopoly, oligopoly, and monopolistic competition -- Games and strategic behavior -- Externalities and property rights -- The economics of information -- Labor markets, poverty, and income distribution -- The environment, health, and safety -- Public goods and tax policy -- Spending, income, and GDP -- Inflation and the price level -- Wages and unemployment -- Economic growth -- Saving, capital formation, and financial markets -- Money, prices, and financial intermediaries -- Short-term economic fluctuations -- Spending, output, and fiscal policy -- Monetary policy and the Federal Reserve -- Aggregate demand, aggregate supply, and business cycles -- Macroeconomic policy -- Exchange rates, international trade, and capital flows