SESSION:1 Welcome to Economics!
1.1 What Is Economics, and Why Is It Important?

SESSION:1 Welcome to Economics!
1.2 Microeconomics and Macroeconomics

SESSION:1 Welcome to Economics!
1.3 How Economists Use Theories and Models to Understand Economic Issues

SESSION:1 Welcome to Economics!
1.4 How To Organize Economies: An Overview of Economic Systems

SESSION:1 Welcome to Economics!
Key Terms

SESSION:1 Welcome to Economics!
Key Concepts and Summary

SESSION:1 Welcome to Economics!
Self-Check Questions

SESSION:1 Welcome to Economics!
Review Questions

SESSION:1 Welcome to Economics!
Critical Thinking Questions

SESSION:2 Choice in a World of Scarcity
2.1 How Individuals Make Choices Based on Their Budget Constraint

SESSION:2 Choice in a World of Scarcity
2.2 The Production Possibilities Frontier and Social Choices

SESSION:2 Choice in a World of Scarcity
2.3 Confronting Objections to the Economic Approach

SESSION:2 Choice in a World of Scarcity
Key Terms

SESSION:2 Choice in a World of Scarcity
Key Concepts and Summary

SESSION:2 Choice in a World of Scarcity
Self-Check Questions

SESSION:2 Choice in a World of Scarcity
Review Questions

SESSION:2 Choice in a World of Scarcity
Critical Thinking Questions

SESSION:2 Choice in a World of Scarcity
Problems

SESSION:3 Demand and Supply
3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services

SESSION:3 Demand and Supply
3.2 Shifts in Demand and Supply for Goods and Services

SESSION:3 Demand and Supply
3.3 Changes in Equilibrium Price and Quantity: The Four-Step Process

SESSION:3 Demand and Supply
3.4 Price Ceilings and Price Floors

SESSION:3 Demand and Supply
3.5 Demand, Supply, and Efficiency

SESSION:3 Demand and Supply
Key Terms

SESSION:3 Demand and Supply
Key Concepts and Summary

SESSION:3 Demand and Supply
Self-Check Questions

SESSION:3 Demand and Supply
Review Questions

SESSION:3 Demand and Supply
Critical Thinking Questions

SESSION:3 Demand and Supply
Problems

SESSION:4 Labor and Financial Markets
4.1 Demand and Supply at Work in Labor Markets

SESSION:4 Labor and Financial Markets
4.2 Demand and Supply in Financial Markets

SESSION:4 Labor and Financial Markets
4.3 The Market System as an Efficient Mechanism for Information

SESSION:4 Labor and Financial Markets
Key Terms

SESSION:4 Labor and Financial Markets
Key Concepts and Summary

SESSION:4 Labor and Financial Markets
Self-Check Questions

SESSION:4 Labor and Financial Markets
Review Questions

SESSION:4 Labor and Financial Markets
Critical Thinking Questions

SESSION:4 Labor and Financial Markets
Problems

SESSION:5 Elasticity
5.1 Price Elasticity of Demand and Price Elasticity of Supply

SESSION:5 Elasticity
5.2 Polar Cases of Elasticity and Constant Elasticity

SESSION:5 Elasticity
5.3 Elasticity and Pricing

SESSION:5 Elasticity
5.4 Elasticity in Areas Other Than Price

SESSION:5 Elasticity
Key Terms

SESSION:5 Elasticity
Key Concepts and Summary

SESSION:5 Elasticity
Review Questions

SESSION:5 Elasticity
Critical Thinking Questions

SESSION:5 Elasticity
Self-Check Questions

SESSION:5 Elasticity
Problems

SESSION:6 Consumer Choices
6.1 Consumption Choices

SESSION:6 Consumer Choices
6.2 How Changes in Income and Prices Affect Consumption Choices

SESSION:6 Consumer Choices
6.3 Behavioral Economics: An Alternative Framework for Consumer Choice

SESSION:6 Consumer Choices
Key Terms

SESSION:6 Consumer Choices
Key Concepts and Summary

SESSION:6 Consumer Choices
Self-Check Questions

SESSION:6 Consumer Choices
Review Questions

SESSION:6 Consumer Choices
Critical Thinking Questions

SESSION:6 Consumer Choices
Problems

SESSION:7 Production, Costs, and Industry Structure
7.1 Explicit and Implicit Costs, and Accounting and Economic Profit

SESSION:7 Production, Costs, and Industry Structure
7.2 Production in the Short Run

SESSION:7 Production, Costs, and Industry Structure
7.3 Costs in the Short Run

SESSION:7 Production, Costs, and Industry Structure
7.4 Production in the Long Run

SESSION:7 Production, Costs, and Industry Structure
7.5 Costs in the Long Run

SESSION:7 Production, Costs, and Industry Structure
Key Terms

SESSION:7 Production, Costs, and Industry Structure
Key Concepts and Summary

SESSION:7 Production, Costs, and Industry Structure
Self-Check Questions

SESSION:7 Production, Costs, and Industry Structure
Review Questions

SESSION:7 Production, Costs, and Industry Structure
Critical Thinking Questions

SESSION:7 Production, Costs, and Industry Structure
Problems

SESSION:8 Perfect Competition
8.1 Perfect Competition and Why It Matters

SESSION:8 Perfect Competition
8.2 How Perfectly Competitive Firms Make Output Decisions

SESSION:8 Perfect Competition
8.3 Entry and Exit Decisions in the Long Run

SESSION:8 Perfect Competition
8.4 Efficiency in Perfectly Competitive Markets

SESSION:8 Perfect Competition
Key Terms

SESSION:8 Perfect Competition
Key Concepts and Summary

SESSION:8 Perfect Competition
Self-Check Questions

SESSION:8 Perfect Competition
Review Questions

SESSION:8 Perfect Competition
Critical Thinking Questions

SESSION:8 Perfect Competition
Problems

SESSION:9 Monopoly
9.1 How Monopolies Form: Barriers to Entry

SESSION:9 Monopoly
9.2 How a Profit-Maximizing Monopoly Chooses Output and Price

SESSION:9 Monopoly
Key Terms

SESSION:9 Monopoly
Key Concepts and Summary

SESSION:9 Monopoly
Self-Check Questions

SESSION:9 Monopoly
Review Questions

SESSION:9 Monopoly
Critical Thinking Questions

SESSION:9 Monopoly
Problems

SESSION:10 Monopolistic Competition and Oligopoly
10.1 Monopolistic Competition

SESSION:10 Monopolistic Competition and Oligopoly
10.2 Oligopoly

SESSION:10 Monopolistic Competition and Oligopoly
Key Terms

SESSION:10 Monopolistic Competition and Oligopoly
Key Concepts and Summary

SESSION:10 Monopolistic Competition and Oligopoly
Self-Check Questions

SESSION:10 Monopolistic Competition and Oligopoly
Review Questions

SESSION:10 Monopolistic Competition and Oligopoly
Critical Thinking Questions

SESSION:10 Monopolistic Competition and Oligopoly
Problems

SESSION:11 Monopoly and Antitrust Policy
11.1 Corporate Mergers

SESSION:11 Monopoly and Antitrust Policy
11.2 Regulating Anticompetitive Behavior

SESSION:11 Monopoly and Antitrust Policy
11.3 Regulating Natural Monopolies

SESSION:11 Monopoly and Antitrust Policy
11.4 The Great Deregulation Experiment

SESSION:11 Monopoly and Antitrust Policy
Key Terms

SESSION:11 Monopoly and Antitrust Policy
Key Concepts and Summary

SESSION:11 Monopoly and Antitrust Policy
Self-Check Questions

SESSION:11 Monopoly and Antitrust Policy
Review Questions

SESSION:11 Monopoly and Antitrust Policy
Critical Thinking Questions

SESSION:11 Monopoly and Antitrust Policy
Problems

SESSION:12 Environmental Protection and Negative Externalities
12.1 The Economics of Pollution

SESSION:12 Environmental Protection and Negative Externalities
12.2 Command-and-Control Regulation

SESSION:12 Environmental Protection and Negative Externalities
12.3 Market-Oriented Environmental Tools

SESSION:12 Environmental Protection and Negative Externalities
12.4 The Benefits and Costs of U.S. Environmental Laws

SESSION:12 Environmental Protection and Negative Externalities
12.5 International Environmental Issues

SESSION:12 Environmental Protection and Negative Externalities
12.6 The Tradeoff between Economic Output and Environmental Protection

SESSION:12 Environmental Protection and Negative Externalities
Key Terms

SESSION:12 Environmental Protection and Negative Externalities
Key Concepts and Summary

SESSION:12 Environmental Protection and Negative Externalities
Self-Check Questions

SESSION:12 Environmental Protection and Negative Externalities
Review Questions

SESSION:12 Environmental Protection and Negative Externalities
Critical Thinking Questions

SESSION:12 Environmental Protection and Negative Externalities
Problems

SESSION:13 Positive Externalities and Public Goods
13.1 Investments in Innovation

SESSION:13 Positive Externalities and Public Goods
13.2 How Governments Can Encourage Innovation

SESSION:13 Positive Externalities and Public Goods
13.3 Public Goods

SESSION:13 Positive Externalities and Public Goods
Key Terms

SESSION:13 Positive Externalities and Public Goods
Key Concepts and Summary

SESSION:13 Positive Externalities and Public Goods
Self-Check Questions

SESSION:13 Positive Externalities and Public Goods
Review Questions

SESSION:13 Positive Externalities and Public Goods
Critical Thinking Questions

SESSION:13 Positive Externalities and Public Goods
Problems

SESSION:14 Labor Markets and Income
14.1 The Theory of Labor Markets

SESSION:14 Labor Markets and Income
14.2 Wages and Employment in an Imperfectly Competitive Labor Market

SESSION:14 Labor Markets and Income
14.3 Market Power on the Supply Side of Labor Markets: Unions

SESSION:14 Labor Markets and Income
14.4 Bilateral Monopoly

SESSION:14 Labor Markets and Income
14.5 Employment Discrimination

SESSION:14 Labor Markets and Income
14.6 Immigration

SESSION:14 Labor Markets and Income
Key Terms

SESSION:14 Labor Markets and Income
Key Concepts and Summary

SESSION:14 Labor Markets and Income
Self-Check Questions

SESSION:14 Labor Markets and Income
Review Questions

SESSION:14 Labor Markets and Income
Critical Thinking Questions

SESSION:15 Poverty and Economic Inequality
15.1 Drawing the Poverty Line

SESSION:15 Poverty and Economic Inequality
15.2 The Poverty Trap

SESSION:15 Poverty and Economic Inequality
15.3 The Safety Net

SESSION:15 Poverty and Economic Inequality
15.4 Income Inequality: Measurement and Causes

SESSION:15 Poverty and Economic Inequality
15.5 Government Policies to Reduce Income Inequality

SESSION:15 Poverty and Economic Inequality
Key Terms

SESSION:15 Poverty and Economic Inequality
Key Concepts and Summary

SESSION:15 Poverty and Economic Inequality
Self-Check Questionsy

SESSION:15 Poverty and Economic Inequality
Review Questions

SESSION:15 Poverty and Economic Inequality
Critical Thinking Questions

SESSION:15 Poverty and Economic Inequality
Problems

SESSION:16 Information, Risk, and Insurance
16.1 The Problem of Imperfect Information and Asymmetric Information

SESSION:16 Information, Risk, and Insurance
16.2 Insurance and Imperfect Information

SESSION:16 Information, Risk, and Insurance
Key Terms

SESSION:16 Information, Risk, and Insurance
Key Concepts and Summary

SESSION:16 Information, Risk, and Insurance
Self-Check Questions

SESSION:16 Information, Risk, and Insurance
Review Questions

SESSION:16 Information, Risk, and Insurance
Critical Thinking Questions

SESSION:16 Information, Risk, and Insurance
Problems

SESSION:17 Financial Markets
17.1 How Businesses Raise Financial Capital

SESSION:17 Financial Markets
17.2 How Households Supply Financial Capital

SESSION:17 Financial Markets
17.3 How to Accumulate Personal Wealth

SESSION:17 Financial Markets
Key Terms

SESSION:17 Financial Markets
Key Concepts and Summary

SESSION:17 Financial Markets
Self-Check Questions

SESSION:17 Financial Markets
Review Questions

SESSION:17 Financial Markets
Critical Thinking Questions

SESSION:17 Financial Markets
Problems

SESSION:18 Public Economy
18.1 Voter Participation and Costs of Elections

SESSION:18 Public Economy
18.2 Special Interest Politics

SESSION:18 Public Economy
18.3 Flaws in the Democratic System of Government

SESSION:18 Public Economy
Key Terms

SESSION:18 Public Economy
Key Concepts and Summary

SESSION:18 Public Economy
Self-Check Questions

SESSION:18 Public Economy
Review Questions

SESSION:18 Public Economy
Critical Thinking Questions

SESSION:18 Public Economy
Problems

SESSION:19 International Trade
19.1 Absolute and Comparative Advantage

SESSION:19 International Trade
19.2 What Happens When a Country Has an Absolute Advantage in All Goods

SESSION:19 International Trade
19.3 Intra-industry Trade between Similar Economies

SESSION:19 International Trade
19.4 The Benefits of Reducing Barriers to International Trade

SESSION:19 International Trade
Key Terms

SESSION:19 International Trade
Key Concepts and Summary

SESSION:19 International Trade
Self-Check Questions

SESSION:19 International Trade
Review Questions

SESSION:19 International Trade
Critical Thinking Questions

SESSION:19 International Trade
Problems

SESSION:20 Globalization and Protectionism
20.1 Protectionism: An Indirect Subsidy from Consumers to Producers

SESSION:20 Globalization and Protectionism
20.2 International Trade and Its Effects on Jobs, Wages, and Working Conditions

SESSION:20 Globalization and Protectionism
20.3 Arguments in Support of Restricting Imports

SESSION:20 Globalization and Protectionism
20.4 How Governments Enact Trade Policy: Globally, Regionally, and Nationally

SESSION:20 Globalization and Protectionism
20.5 The Tradeoffs of Trade Policy

SESSION:20 Globalization and Protectionism
Key Terms

SESSION:20 Globalization and Protectionism
Key Concepts and Summary

SESSION:20 Globalization and Protectionism
Self-Check Questions

SESSION:20 Globalization and Protectionism
Review Questions

SESSION:20 Globalization and Protectionism
Critical Thinking Questions

SESSION:20 Globalization and Protectionism
Problems

SESSION:A |
The Use of Mathematics in Principles of Economics

SESSION:B |
Indifference Curves

SESSION:C |
Present Discounted Value

SESSION:1 Welcome to Economics!
Answer Key

SESSION:2 Choice in a World of Scarcity
Answer Key

SESSION:3 Demand and Supply
Answer Key

SESSION:4 Labor and Financial Markets
Answer Key

SESSION:5 Elasticity
Answer Key

SESSION:6 Consumer Choices
Answer Key

SESSION:7 Production, Costs, and Industry Structure
Answer Key

SESSION:8 Perfect Competition
Answer Key

SESSION:9 Monopoly
Answer Key

SESSION:10 Monopolistic Competition and Oligopoly
Answer Key

SESSION:11 Monopoly and Antitrust Policy
Answer Key

SESSION:12 Environmental Protection and Negative Externalities
Answer Key

SESSION:13 Positive Externalities and Public Goods
Answer Key

SESSION:14 Labor Markets and Income
Answer Key

SESSION:15 Poverty and Economic Inequality
Answer Key

SESSION:16 Information, Risk, and Insurance
Answer Key

SESSION:17 Financial Markets
Answer Key

SESSION:18 Public Economy
Answer Key

SESSION:19 International Trade
Answer Key

SESSION:20 Globalization and Protectionism
Answer Key

References