The 19th Edition builds upon the tradition of leadership by sticking to 3 main goals: Help the beginning student master the principles essential for understanding the economizing problem, specific economic issues and the policy alternatives help the student understand and apply the economic perspective and reason accurately and objectively about economic matters

Part 1: An Introduction to Economics and the Economy to the Student

1 Limits, Alternatives, and Choices (+ Appendix)

2 The Market System and the Circular Flow

Part 2: Price, Quantity and Efficiency

3 Demand, Supply and Market Equilibrium (+ Appendix)

4 Elasticity

5 Market Failures: Public Goods and Externalizes

Part 3: Microeconomics of Product Markets

6 Consumer Behavior (+ Appendix)

7 Businesses and the Costs of Production

8 Pure Competition in the Short Run

9 Pure Competition in the Long Run

10 Pure Monopoly

11 Monopolistic Competition and Oligopoly (+ Appendix) 11w Technology, R&D and Efficiency

Part 4: Microeconomics of Resource Markets

12 The Demand for Resources

13 Wage Determination (+ Appendix)

14 Rent, Interest and Profit

15 Natural Resource and Energy Economics

Part 5: Microeconomics of Government

16 Public Finance: Expenditures and Taxes

17 Asymmetric Information, Voting and Public Choice

Part 6: Microeconomics Issues and Policies

18 Antitrust Policy and Regulation

19 Agriculture: Economics and Policy

20 Income Inequality, Poverty and Discrimination

21 Health Care

22 Immigration

Part 7: GDP, Growth and Instability

23 An Introduction to Macroeconomics

24 Measuring Domestic Output and National Income

25 Economic Growth

26 Business Cycles, Unemployment, and Inflation

Part 8: Macroeconomic Models and Fiscal Policy

27 Basic Macroeconomic Relationships

28 The Aggregate Expenditures Model

29 Aggregate Demand and Aggregate Supply (+ Appendix)

30 Fiscal Policy, Deficits and Debt

Part 9: Money, Banking and Monetary Policy

31 Money, Banking and Financial Institutions

32 Money Creation

33 Interest Rates and Monetary Policy

34 Financial Economics

Part 10: Extensions and Issues

35 Extending the Analysis of Aggregate Supply

36 Current Issues in Macro Theory and Policy

Part 11: International Economics

37 International Trade

38 The Balance of Payments, Exchange Rates and Trade Deficits

39 The Economics of Developing Countries Optional Content for Instructions (Available for instructors on the OLC) COI 1 The United States and the Global Economy COI 2 Previous International Exchange-Rate Systems