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Thinking like an economist -- The power of economics -- Economics and life -- Specialization and exchange -- Supply and demand -- Markets -- Elasticity -- Efficiency -- Government intervention -- Microeconomics : thinking like a microeconomist -- Individual decisions -- Consumer behavior -- Behavioral economics : a closer look at decision making -- Game theory and strategic thinking -- Information -- Time and uncertainty -- Firm decisions -- The costs of production -- Perfect competition -- Monopoly -- Monopolistic competition and oligopoly -- The factors of production -- International trade -- Public economics -- Externalities -- Public goods and common resources -- Taxation and the public budget -- Poverty, inequality, and discrimination -- Political choices -- Public policy and choice architecture -- Macroeconomics : thinking like a macroeconomist -- The data of macroeconomics -- Measuring the wealth of nations -- The cost of living -- Economic growth and unemployment -- Economic growth -- Unemployment and the demand for labor -- The economy in the short and long run -- Aggregate demand and aggregate supply -- Fiscal policy -- The financial system and institutions -- The basics of finance -- Money and the monetary system -- Inflation -- Financial crisis -- International policy issues -- Open-market macroeconomics -- Development economics