Part I: Introduction
1. Economics: The Science of Everyday Life
EXAMPLE Registering for Class on the First Day
of the Semester
2. Efficiency and Allocation in the Global
Economy
EXAMPLE U.S Spending on Military Build-up and Healthcare
3. The American Economy in a Global Setting
EXAMPLE Ups and Downs of Pittsburgh s Steel Industry
4. Introduction to the Demand and Supply ramework
EXAMPLE Market for Coffee in Burlington,
Vermont
5. Elasticity
EXAMPLE Lunchtime Market for Fast Food
6. Market Efficiency and Government Intervention
EXAMPLE Buying a Laptop Computer for College
PART II: The Role of Consumers and Firms
7. Consumer Behavior
EXAMPLE Spending Money on Pizza or CDs
8. Firm Production and Cost
EXAMPLE Guitar Production in Nashville, TN
PART III: Market Structure, Pricing, and Public Policy
9. Perfect Competition
EXAMPLE Pike Place Market and the Seattle
Salmon Business
10. Monopoly
EXAMPLE Major League Baseball and an Atlanta
Braves game
11. Monopolistic Competition and Product
Differentiation
EXAMPLE Philly Cheese Steak Industry
12. Oligopoly
EXAMPLE Video Game Console Industry
13. Antitrust, Regulation, and Deregulation
EXAMPLE Ticketmaster as a Monopoly
PART IV: Resource Markets, Market Failure and Public Goods
14. Firms and Financial Markets
EXAMPLE Google s Rise to Prominence
15. Labor Markets
EXAMPLE MP3 Carrying Case Manufacturer
16. Poverty and the Distribution of Income
EXAMPLE Oprah Winfrey is Career
17. Market Failure and Public Goods
EXAMPLE The Chesapeake Bay s Endangered
Natural Resources
Part V: Measuring Macroeconomic Health
18. Unemployment and Employment
EXAMPLE Unemployed College Grad in the San
Francisco Job Market
19. Inflation and Prices
EXAMPLE Hyperinflation in Germany During the
1920 s
20. GDP and the Business Cycle
EXAMPLE Buying American: Toyota Matrix or Ford
Focus
Part VI: The Aggregate Demand, Aggregate Supply, and Fiscal Policy
21. Aggregate Demand/Aggregate Supply: The Basic
Model
EXAMPLE Comparison of Macroeconomics Outcomes
After the Vietnam War and Gulf Wars
22. From Short-Run to Long-Run Equilibrium: The
Model in Action
EXAMPLE Comparative Performance of Various
Economies
23. The Role of Aggregate Demand in the Short-
Run
EXAMPLE Hollywood s Fascination with the Great
Depression
24. Fiscal Policy
EXAMPLE "Blame Game" Over the Health of the
Economy During Presidential Elections
25. The Federal Budget and the National Debt
EXAMPLE Spiraling U.S. National Debt
Part VII: Money and Monetary Policy
26. Basics of Money and Banking
EXAMPLE Private Currency in Ithaca, New York
27. Money Creation and Monetary Policy
EXAMPLE Federal Reserve Actions to Stabilize the U.S. Economy in the Wakeof the 9/11
Terrorist Attacks
28.Money in the Macroeconomy
EXAMPLE Federal Reserve Doubles M1 Money Supply
Part VIII: Long-Run Economic Health
29. Long-Run Implications of Macroeconomic Policy
EXAMPLE Debate Over Active versus Passive
Stabilizatoin Policies in Response to the 2001 Recession
30. Economic Growth
EXAMPLE Comparing the U.S. and Mexican
Economies
Part IX: International Trade and Finance
31. International Trade
EXAMPLE Anti-globalization Protesters at the WTO Meeting in Seattle, WA
32. International Finance
EXAMPLE The Argentine Financial Crisis
