| Sumario: | Section one, lecture notes, the nature and method of economics, the economizing problem pure capitalism and the circular flow, understanding individual markets: demand and supply, the private sectors and the market system, the public sector, measuring domestic output, national income, and the price level, macroeconomic instability: unemployment and inflation, aggregate demand and aggregate supply, classical and keynesian theories of employment, equilibrium domestic output in the keynesian model, fiscal policy money and banking, how banks create money, the federal reserve banks and monetary policy, alternative views: monetarism and rational expectations the inflation-unemployment relationship, budget deficits and the public debt, economic growth, international trade: comparative advantage and protectionism, exchange rates, the balance of payments, and trade deficit, growth and the less developed countries, the soviet economy in transition; section two, objectives and answer, the nature and method of economics, the economizing problem, pure capitalism and the circular flow, understanding individual markets: demand and supply, the private sectors and the market system, the public sector, measuring domestic output, national income, and the price level, macroeconomic instability: unemployment and inflation, aggregate demand and aggregate supply, classical and keynesian theories of employment, equilibrium domestic output in the keynesian model, fiscal policy, money and banking how banks create money, the federal reserve banks and monetary policy, alternative views: monetarism and rational expectations, the inflation-unemployment relationship, budget deficits and the public debt, economic growth, international trade: comparative advantage and protectionism, exchange rates, the balance of payments, and trade deficit, growth and the less developed countries, the soviet economy in transition
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