Table of Contents
Preface v
Acknowledgements vi
Part 1 The basics
1 What is economics? 3
2 The economic mindset: homo economicus vs. behavioural economics 17
Part 2 Markets and competition-the invisible hand
3 Demand 47
4 Production and supply 63
5 Markets, equilibrium, and the welfare theorems 86
Part 3 Market and government failure
6 Externalities and public goods 103
7 Monopoly 123
Part 4 Further topics in microeconomics
8 Game theory and oligopoly 139
9 Information and contracting 161
10 The economics of finance 175
Part 5 Macroeconomics-"the economy"
11 Basics of national income accounting 189
12 Economic growth 205
13 The classical model 220
14 The Great Depression and Keynes 236
15 The Phillips curve, Friedman, and monetarism 257
16 Open-economy macroeconomics 275
Part 6 Hot topics
17 Globalization and international trade 291
18 Development economics 309
19 The financial crisis of 2007-8 322
Part 7 Resources
Books 347
Websites 349
Index 351
Picture credits 362