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PART 1 Introduction 1 Thinking Like an Economist 2 Comparative Advantage 3 Supply and Demand PART 2 Competition and the Invisible Hand 4 Demand and Elasticity 5 Perfectly Competitive Supply 6 Efficiency, Exchange, and the Invisible Hand in Action PART 3 Market Imperfections 7 Monopoly, Oligopoly, and Monopolistic Competition 8 Games and Strategic Behavior 9 Externalities and Property Rights PART 4 Economics of Public Policy 10 Using Economics to Make Better Policy Decisions PART 5 Macroeconomics: Data and Issues 11 Spending, Income, and GDP 12 Inflation and the Price Level 13 Wages and Unemployment PART 6 The Economy in the Long Run 14 Economic Growth 15 Saving, Capital Formation, and Financial Markets 16 Money, Prices, and the Financial System PART 7 The Economy in the Short Run 17 Short-Term Economic Fluctuations 18 Spending, Output, and Fiscal Policy 19 Monetary Policy and the Federal Reserve 20 Aggregate Demand, Aggregate Supply, and Stabilization Policy PART 8 The International Economy 21 Exchange Rates, International Trade, and Capital Flows