Part One Basic concepts: the fundamentals of economics; appendix - how to read graphs; markets and government in a modern economy; basic elements of supply and demand. Part Two Macroeconomics - the study of growth and business cycles: overview of macroeconomics; appendix - the data of macroeconomics; measuring economic activity; consumption and investment; business fluctuations and the theory of aggregate demand; the multiplier model; money, banking, and financial markets; central banking and monetary policy. Part Three Economic growth and macroeconomic policy: the process of economic growth; the challenge of economic development; exchange rates and the international financial system; open-economy macroeconomics. Part Four Unemployment, inflation and economic policy: unemployment and the foundations of aggregate supply; ensuring price stability; the warring schools of macroeconomics; policies for growth and stability.