Introduction to economics and the economy -- Limits, alternatives, and choices -- The market system and the circular flow -- Price, quantity, and efficiency -- Demand, supply, and market equilibrium -- Market failures : public goods and externalities -- Government's role and government failure...

"Over the years, numerous instructors have requested a short, one-semester version of Economics that would cover both microeconomics and macroeconomics. While some other two-semester books simply eliminate chapters, renumber those that remain, and offer the "cut and splice" version as a...