Part I: PRELIMINARIES. 1. What Is Economics? 2. Scarcity, Choice, and Economic Systems. 3. Supply and Demand. 4. Working with Supply and Demand. Part II: MACROECONOMICS: BASIC CONCEPTS. 5. What Macroeconomics Tries to Explain. 6. Production, Income, and Employment. 7. The Price Level and Inflation. Part III: LONG-RUN MACROECONOMICS. 8. The Classical Long-Run Model. 9. Economic Growth and Rising Living Standards. Part IV: THE SHORT-RUN MODEL AND FISCAL POLICY. 10. Economic Fluctuations. 11. The Short-Run Macro Model. 12. Fiscal Policy. Part V: EXPANDING THE MODEL: MONEY, PRICES, AND THE GLOBAL ECONOMY. 13. Money, Banks, and the Federal Reserve. 14. The Money Market and Monetary Policy. 15. Aggregate Demand and Aggregate Supply. 16. Inflation and Monetary Policy. 17. Exchange Rates and Macroeconomic Policy.