Introduction; Section 1. The basic economic problem; Chapter 1. The nature of the economic problem; Chapter 2. Factors of production; Chapter 3. Opportunity cost; Chapter 4. Production possibility curves; Examination practice; Section 2. The allocation of resources; Chapter 5. Microeconomics and macroeconomics; Chapter 6. The role of markets in allocating resources; Chapter 7. Demand; Chapter 8. Supply; Chapter 9. Price determination; Chapter 10. Causes of price changes; Chapter 11. Price elasticity of demand; Chapter 12. Price elasticity of supply; Chapter 13. Market economic system; Chapter 14. Market failure; Chapter 15. Mixed economic system; Examination practice; Section 3. Microeconomic decision makers; Chapter 16. Money and banking; Chapter 17. Households; Chapter 18. Workers; Chapter 19. Trade unions; Chapter 20. Firms; Chapter 21. Firms and production; Chapter 22. Firms' costs, revenue and objectives; Chapter 23. Market structure; Examination practice; Section 4. Government and the macroeconomy; Chapter 24. The role of government; Chapter 25. The macroeconomic aims of government; Chapter 26. Fiscal policy; Chapter 27. Monetary policy; Chapter 28. Supply-side policy; Chapter 29. Economic growth; Chapter 30. Employment and unemployment; Chapter 31. Inflation and deflation; Examination practice; Section 5. Economic development; Chapter 32. Living standards; Chapter 33. Poverty; Chapter 34. Population; Chapter 35. Differences in economic development between countries; Examination practice; Section 6. International trade and globalisation; Chapter 36. International specialisation; Chapter 37. Free trade and protection; Chapter 38. Foreign exchange rates; Chapter 39. Current account of the balance of payments; Examination practice; Index.