PART I INTRODUCTION: THINKING LIKE AN ECONOMIST 1 Economics and Economic Reasoning 4 2 The Production Possibility Model, Trade, and Globalization 24 Appendix: Graphish: The Language of Graphs 42 3 Economic Institutions 51 Appendix: The History of Economic Systems 71 4 Supply and Demand 77 5 Using Supply and Demand 100 Appendix: Algebraic Representation of Supply, Demand, and Equilibrium 116 PART II MICROECONOMICS I THE POWER OF TRADITIONAL ECONOMIC MODELS 6 Describing Supply and Demand: Elasticities 122 7 Taxation and Government Intervention 142 8 Market Failure versus Government Failure 162 8W Politics and Economics: The Case of Agricultural Markets 183 II INTERNATIONAL ECONOMIC POLICY ISSUES 9 Comparative Advantage, Exchange Rates, and Globalization 184 10 International Trade Policy 203 III PRODUCTION AND COST ANALYSIS 11 Production and Cost Analysis I 224 12 Production and Cost Analysis II 243 Appendix: Isocost/Isoquant Analysis 260 IV MARKET STRUCTURE 13 Perfect Competition 265 14 Monopoly and Monopolistic Competition 285 Appendix: The Algebra of Competitive and Monopolistic Firms 310 15 Oligopoly and Antitrust Policy 312 16 Real-World Competition and Technology 331 V FACTOR MARKETS 17 Work and the Labor Market 351 Appendix: Derived Demand 375 17W Nonwage and Asset Income: Rents, Profits, and Interest 381 18 Who Gets What? The Distribution of Income 382 VI CHOICE AND DECISION MAKING 19 The Logic of Individual Choice: The Foundation of Supply and Demand 407 Appendix: Indifference Curve Analysis 427 20 Game Theory, Strategic Decision Making, and Behavioral Economics 432 Appendix: Game Theory and Oligopoly 452 VII MODERN ECONOMIC THINKING 21 Thinking Like a Modern Economist 457 22 Behavioral Economics and Modern Economic Policy 483 23 Microeconomic Policy, Economic Reasoning, and Beyond 501 PART III MACROECONOMICS I MACROECONOMIC BASICS 24 Economic Growth, Business Cycles, and Unemployment 522 25 Measuring and Describing the Aggregate Economy 543 II POLICY MODELS 26 The Keynesian Short-Run Policy Model: Demand-Side Policies 567 26W The Multiplier Model 593 27 The Classical Long-Run Policy Model: Growth and Supply-Side Policies 594 III FINANCE, MONEY, AND THE ECONOMY 28 The Financial Sector and the Economy 615 Appendix: A Closer Look at Financial Assets and Liabilities 636 29 Monetary Policy 642 30 Financial Crises, Panics, and Unconventional Monetary Policy 664 IV TAXES, BUDGETS, AND FISCAL POLICY 31 Deficits and Debt: The Austerity Debate 684 32 The Fiscal Policy Dilemma 700 V MACROECONOMIC PROBLEMS 33 Jobs and Unemployment 719 34 Inflation, Deflation, and Macro Policy 737 VI INTERNATIONAL MACROECONOMIC POLICY ISSUES 35 International Financial Policy 759 Appendix: History of Exchange Rate Systems 783 36 Macro Policy in a Global Setting 786 37 Structural Stagnation and Globalization 801 Appendix: Creating a Targeted Safety Net to Help Least Well Off 82338 Macro Policy in Developing Countries 825

Colander's Economics 10e is specifically designed to help today's students succeed in the principles of economics course and grasp economic concepts they can apply in their daily lives.