Table of Contents Part 1 Introduction 1. Thinking Like an Economist 2. Comparative Advantage 3. Supply and Demand Part 2 Macroeconomics: Data and Issues 4. Spending, Income, and GDP 5. Inflation and the Price Level 6. Wages and Unemployment Part 3 The Economy in the Long Run 7. Economic Growth 8. Saving, Capital Formation, and Financial Markets 9. Money, Prices, and the Financial System Part 4 The Economy in the Short Run 10. Short-term Economic Fluctuations 11. Spending, Output, and Fiscal Policy 12. Monetary Policy and the Federal Reserve 13. Aggregate Demand, Aggregate Supply, and Business Cycles 14. Macroeconomic Policy Part 5 The International Economy 15. Exchange Rates, International Trade, and Capital Flows