Revised edition of the authors' Economics, 2015.

Includes index.

Introduction to economics and the economy -- Limits, alternatives, and choices -- The market system and the circular flow -- Price, quantity, and efficiency -- Demand, supply, and market equilibrium -- Market failures : public goods and externalities -- Government's role and government failure -- Consumer behavior -- Elasticity -- Utility maximization -- Behavioral economics -- Microeconomics of product markets -- Businesses and the costs of production -- Pure competition in the short run -- Pure competition in the long run -- Pure monopoly -- Monopolistic competition and oligopoly -- Microeconomics of resource markets and government -- The demand for resources -- Wage determination -- Rent, interest, and profit -- Natural resource and energy economics -- Public finance : expenditures and taxes -- Microeconomic issues and policies -- Antitrust policy and regulation -- Agriculture : economics and policy -- Income inequality, poverty, and discrimination -- Health care -- Immigration -- Gdp, growth, and instability -- An introduction to macroeconomics -- Measuring domestic output and national income -- Economic growth -- Business cycles, unemployment, and inflation -- Macroeconomic models and fiscal policy -- Basic macroeconomic relationships -- The aggregate expenditures model -- Aggregate demand and aggregate supply -- Fiscal policy, deficits, and debt -- Money, banking, and monetary policy -- Money, banking, and financial institutions -- Money creation -- Interest rates and monetary policy -- Financial economics -- Extensions and issues -- Extending the analysis of aggregate supply -- Current issues in macro theory and policy -- International economics -- International trade -- The balance of payments, exchange rates, and trade deficits -- Glossary -- Index.