Helps the beginning student master the principles essential for understanding the economizing problem, specific economic issues, and the policy alternatives. This title helps 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 Externalities 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: MICROECONOMIC ISSUES and POLICIES 18 Antitrust Policy and Regulation 19 Agriculture: Economics and Policy 20 Income Inequality and Poverty 21 Health Care 22 Immigration PART 7: INTERNATIONAL ECONOMICS 23 International Trade (Econ Ch 37) 24 The Balance of Payments, Exchange Rates, and Trade Deficits (Econ Ch 38) OPTIONAL CONTENT FOR INSTRUCTORS (Available for instructors on the OLC) COI 1 The United States and the Global Economy COI 2 Previous International Exchange-Rate Systems