Trade-offs and opportunity cost
The emergence of free trade and the importance of comparative advantage
International trade and trade barriers
Traditional economies, command economies, and market economies
Capitalism versus socialism
Barter and the development of money
Inconvertible fiat explored
The time value of money and interest rates
Banks as a system: regulation and deregulation
Supply and demand: markets
Supply and demand: consumer behavior
Supply and demand: a price is born
Changes in supply and demand
Accounting versus economics
Perfect competition in the short run
Perfect competition in the long run
Oligopolies and imperfectly competitive markets
Monopoly: the good, the bad, and the ugly
Government in the marketplace: price ceilings and price floors
Government in the marketplace: taxes and subsidies
Financial markets and loanable funds theory
Foreign exchange and exchange rates
Exports and the balance of trade
Official reserves and exchange rate policy
The private sector and the public sector
The financial sector and financial markets
The gross domestic product
GDP: private spending and investment
GDP: government spending and exports
Real GDP changes and the business cycle
Inflation: winners and losers
Disinflation and deflation
Aggregate demand and aggregate supply
Macroeconomic equilibrium
The Keynesian view and fiscal policy
The federal reserve system
Conditions for economic growth
How economic policy affects growth
The great depression meets the great recession
The collapse of investment banking
The environment and the economy.
