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Contents
PART 1: INTRODUCTION TO ECONOMICS
The Scope and Method of Economics
The Economic Problem: Scarcity and Choice
Demand, Supply, and Market Equilibrium
Demand and Supply Applications
PART 2: CONCEPTS AND PROBLEMS IN MACROECONOMICS
Introduction to Macroeconomics
Measuring National Output and National Income
Unemployment, Inflation, and Long-Run Growth
PART 3: THE CORE OF MACROECONOMIC THEORY
Aggregate Expenditure and Equilibrium Output
The Government and Fiscal Policy
Money, the Federal Reserve, and the Interest Rate
The Determination of Aggregate Output, the Price Level, and the Interest Rate
Policy Effects and Cost Shocks in the AS/AD Model
The Labor Market in the Macroeconomy
PART 4: FURTHER MACROECONOMICS ISSUES
Financial Crises, Stabilization, and Deficits
Household and Firm Behavior in the Macroeconomy: A Further Look
Long-Run Growth
Alternative Views in Macroeconomics
PART 5: THE WORLD ECONOMY
International Trade, Comparative Advantage, and Protectionism
Open-Economy Macroeconomics: The Balance of Payments and Exchange Rates
Economic Growth in Developing Economies
PART 6: METHODOLOGY
Critical Thinking about Research