The 19th Edition builds upon the tradition of leadership by sticking to 3 main goals: Help the beginning student master the principles essential for understanding the economizing problem, specific economic issues and the policy alternatives help the student understand and apply the economic perspective and reason accurately and objectively about economic matters; and promote a lasting student interest in economics and the economy. Table of Contents Part 1: An Introduction to Economics and the Economy to the Student 1 Limits, Alternatives, and Choices (+ Appendix) 2 The Market System and the Circular Flow Part 2: Price, Quantity and Efficiency 3 Demand, Supply and Market Equilibrium (+ Appendix) 4 Elasticity 5 Market Failures: Public Goods and Externalizes Part 3: Microeconomics of Product Markets 6 Consumer Behavior (+ Appendix) 7 Businesses and the Costs of Production 8 Pure Competition in the Short Run 9 Pure Competition in the Long Run 10 Pure Monopoly 11 Monopolistic Competition and Oligopoly (+ Appendix) 11w Technology, R&D and Efficiency Part 4: Microeconomics of Resource Markets 12 The Demand for Resources 13 Wage Determination (+ Appendix) 14 Rent, Interest and Profit 15 Natural Resource and Energy Economics Part 5: Microeconomics of Government 16 Public Finance: Expenditures and Taxes 17 Asymmetric Information, Voting and Public Choice Part 6: Microeconomics Issues and Policies 18 Antitrust Policy and Regulation 19 Agriculture: Economics and Policy 20 Income Inequality, Poverty and Discrimination 21 Health Care 22 Immigration Part 7: GDP, Growth and Instability 23 An Introduction to Macroeconomics 24 Measuring Domestic Output and National Income 25 Economic Growth 26 Business Cycles, Unemployment, and Inflation Part 8: Macroeconomic Models and Fiscal Policy 27 Basic Macroeconomic Relationships 28 The Aggregate Expenditures Model 29 Aggregate Demand and Aggregate Supply (+ Appendix) 30 Fiscal Policy, Deficits and Debt Part 9: Money, Banking and Monetary Policy 31 Money, Banking and Financial Institutions 32 Money Creation 33 Interest Rates and Monetary Policy 34 Financial Economics Part 10: Extensions and Issues 35 Extending the Analysis of Aggregate Supply 36 Current Issues in Macro Theory and Policy Part 11: International Economics 37 International Trade 38 The Balance of Payments, Exchange Rates and Trade Deficits 39 The Economics of Developing Countries Optional Content for Instructions (Available for instructors on the OLC) COI 1 The United States and the Global Economy COI 2 Previous International Exchange-Rate Systems