01 What Economics Is All About

1.1 Scarcity

1.2 Opportunity Cost

1.3 Production Possibilities Frontier

1.4 The Method of Economics

1.5 Why People Trade with Each Other

Ch1-Quiz

Ch1-Homework

02 The Market Forces of Supply and Demand

2.1 Demand

2.2 Supply

2.3 Market Equilibrium

Ch2-Quiz

Ch2-Homework

03 Elasticity and Its Application

3.1 The Price Elasticity of Demand

3.2 Applications of Elasticity

Ch3-Quiz

Ch3-Homework

04 Consumers, Producers, and Market Efficiency

4.1 Consumer Surplus and Producer Surplus

4.2 Market Efficiency

Ch04-Quiz

Ch4-Homework

05 Market failure and Microeconomic Policies

5.1 Externalities

5.2 Private Solutions to Externalities

5.3 Public Policies toward Externalities

5.4 Public Goods

5.5 Common Resources

Ch05-Quiz

Ch5-Homework

06 The Theory of Consumer Choice

6.1 What the Consumer Can Afford

6.2 What the Consumer Wants

6.3 What the Consumer Chooses

Ch06-Quiz

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07 The Costs of Production

7.1 The Nature of the Firm

7.2 Production and Costs in the Short Run

7.3 Costs in the Long Run

Ch07-Quiz

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08 Market Structure and Firm Behavior

8.1 The Four Types of Market Structure

8.2 A Competitive Firm’s Supply Decision

8.3 The Supply Curve in a Competitive Market

8.4 Why Monopolies Arise

8.5 Profit Maximization of a Monopoly

8.6 Public Policy toward Monopolies

8.7 Monopolistic Competition

8.8 Oligopoly

Ch08-Quiz

Ch8-Homework

09 The Markets for the Factors of Production

9.1 The Labor Market

9.2 Earnings

Ch09-Quiz

Ch9-Homework

10 The Basic Concepts in Macroeconomics

10.1 Macroeconomics and our life

10.2 The Measurement of GDP

10.3 The Components of GDP

10.4 CPI and the Cost of Living

Ch10-Quiz

Ch10-Homework

11 Long-Run Economic Growth

11.1 What Determines a Country’s Standard of Living?

11.2 Economic Growth and Public Policy

Ch11-Quiz

Ch11-Homework

12 Unemployment in the Long Run

12.1 Examining Unemployment

12.2 Frictional and Structural Unemployment

Ch12-Quiz

Ch12-Homework

13 Inflation in the Long Run

13.3 The Costs of Inflation

13.1 The Quantity Theory of Money

13.2 Inflation and Interest Rates

Ch13-Quiz

Ch13-Homework

14 Short-Run Economic Fluctuations

14.1 The Aggregate-Demand Curve

14.2 The Aggregate-Supply Curve

14.3 Two Causes of Economic Fluctuations

Ch14-Quiz

Ch14-Homework

15 The Influence of Monetary and Fiscal Policy on Aggregate Demand

15.1 How Monetary Policy Influences Aggregate Demand

15.2 How Fiscal Policy Influences Aggregate Demand

Ch15-Quiz