Basic problems of economic organization -- Markets and government in a modern economy -- Basic elements of supply and demand -- Supply and demand in individual markets -- Demand and consumer behavior -- Production and business organization -- Analysis of costs -- Supply and pricing in competitive markets -- Marginal revenue and monopoly -- Oligopoly and monopolistic competition -- Uncertainty and games in economic behavior -- Incomes and the pricing of factors of production -- Wages and the labor market -- Labor unions and collective bargaining -- Land, natural resources, and capital -- Markets and economic efficiency -- Government and the economy -- Government taxation and expenditure -- Curbing market power : regulation and antitrust policies -- Income distribution and the struggle against poverty -- The winds of change : the triumph of the market -- Overview of macroeconomics -- Measuring national output and income -- Consumption and investment -- Fundamentals of aggregate supply and demand -- The multiplier model -- Money and commercial banking.

Central banking and monetary policy -- Economic growth -- Business cycles and unemployment -- The cost of inflation -- Inflation and unemployment -- Fiscal policy, deficits, and the government debt -- Issues in economic stabilization -- International trade and the theory of comparative advantage -- Protectionism and free trade -- The economics of developing countries -- Exchange rates and the international financial system.