Economic issues and concepts -- How economists work -- Demand and supply -- Elasticity of demand and supply -- Consumer choice : indifference theory -- The cost structure of firms -- Perfect competition -- Monopoly -- Imperfect competition -- Demand and supply of inputs -- The labour market -- Capital, investment, and new technology -- Successes and failures of markets -- The role of government -- Macroeconomic issues and measurement -- A basic model of the determination of GDP in the short term -- GDP in an open economy with government -- GDP and the price level in the short run -- GDP and the price level in the long run -- Money and monetary institutions -- The role of money in macroeconomics -- The balance of payments and exchange rates -- Macroeconomic policy in an open economy -- Inflation -- Unemployment -- Economic growth and sustainability -- International trade.