| Pt. I | Introduction | 1 |
| Ch. 1 | Ten Principles of Economics | 3 |
| Ch. 2 | Thinking Like an Economist | 17 |
| Ch. 3 | Interdependence and the Gains from Trade | 45 |
| Pt. II | Supply and Demand I: How Markets Work | 59 |
| Ch. 4 | The Market Forces of Supply and Demand | 61 |
| Ch. 5 | Elasticity and Its Application | 89 |
| Ch. 6 | Supply, Demand, and Government Policies | 111 |
| Pt. III | Supply and Demand II: Markets and Welfare | 131 |
| Ch. 7 | Consumers, Producers, and the Efficiency of Markets | 133 |
| Ch. 8 | Application: The Costs of Taxation | 155 |
| Ch. 9 | Application: International Trade | 173 |
| Pt. IV | The Data of Macroeconomics | 197 |
| Ch. 10 | Measuring a Nation's Income | 199 |
| Ch. 11 | Measuring the Cost of Living | 217 |
| Pt. V | The Real Economy in the Long Run | 235 |
| Ch. 12 | Production and Growth | 237 |
| Ch. 13 | Saving, Investment, and the Financial System | 263 |
| Ch. 14 | The Natural Rate of Unemployment | 287 |
| Pt. VI | Money and Prices in the Long Run | 311 |
| Ch. 15 | The Monetary System | 313 |
| Ch. 16 | Inflation: Its Causes and Costs | 331 |
| Pt. VII | The Macroeconomics of Open Economies | 357 |
| Ch. 17 | Open-Economy Macroeconomics: Basic Concepts | 359 |
| Ch. 18 | A Macroeconomic Theory of the Open Economy | 381 |
| Pt. VIII | Short-Run Economic Fluctuations | 401 |
| Ch. 19 | Aggregate Demand and Aggregate Supply | 403 |
| Ch. 20 | The Influence of Monetary and Fiscal Policy on Aggregate Demand | 429 |
| Ch. 21 | The Short-Run Tradeoff between Inflation and Unemployment | 455 |
| Pt. IX | Final Thoughts | 479 |
| Ch. 22 | Five Debates over Macroeconomic Policy | 481 |
| Glossary | 499 |
| Credits | 503 |
| Index | 505 |