Beginning with eight core theory chapters, this book is further divided into 33 shorter issues chapters. It addresses the following topics: Macroeconomic Issues, International Issues, Externalities and Market Failure, Health Issues, Government Solutions to Societal Problems, Discrimination Issues, Price Control Issues, and Miscellaneous Markets.

This book also has the benefit of having timely web-available chapters that allow students to study issues as they happen. Between the time the first edition went to press and this edition became available, the accounting scandals of 2002 occurred. During the book's first year the U.S. went to war in Iraq. Before this edition hit college bookstores, the Housing Bubble was of significant concern. Chapters discussing the economic impact of these events were available within a month of these events on the web.

Chapter 1 Economics: The Study of Opportunity CostAppendix 1A Graphing: Yes, You Can.Chapter 2 Supply and DemandChapter 3 The Concept of Elasticity and Consumer and Producer Surplus Chapter 4 Firm Production, Cost, and RevenueChapter 5 Perfect Competition, Monopoly, and Economic versus Normal ProfitChapter 6 Every Macroeconomic Word You Ever Heard: Gross Domestic Product, Inflation, Unemployment, Recession, and DepressionChapter 7 Interest Rates and Present Value Chapter 8 Aggregate Demand and Aggregate Supply Chapter 9 Federal SpendingChapter 10 Federal Deficits, Surpluses, and the National DebtChapter 11 Fiscal PolicyChapter 12 Monetary PolicyChapter 13 International Trade: Does it Jeopardize American Jobs?Chapter 14 The International Monetary Fund: Doctor or Witch Doctor?Chapter 15 NAFTA, CAFTA, GATT, WTO: Are Trade Agreements Good for Us?Chapter 16 Tobacco, Alcohol, Drugs, and ProstitutionChapter 17 The EnvironmentChapter 18 Health CareChapter 19 Government Provided Health Insurance: Medicaid, Medicare, and the Child Health Insurance Program Chapter 20 The Economics of Prescription DrugsChapter 21 The Economics of CrimeChapter 22 EducationChapter 23 Poverty and WelfareChapter 24 Social SecurityChapter 25 Head StartChapter 26 The Economics of Race and Sex DiscriminationChapter 27 Farm PolicyChapter 28 Minimum WageChapter 29 Rent ControlChapter 30 Ticket Brokers and Ticket ScalpingChapter 31 Personal Income TaxesChapter 32 AntitrustChapter 33 Energy PricesChapter 34 If We Build It, Will They Come? And Other Sports QuestionsChapter 35 The Stock Market and CrashesChapter 36 UnionsChapter 37 The Cost of WarChapter 38 The Economics of TerrorismChapter 39 Wal-Mart: Always Low Prices (And Low Wages) -- AlwaysChapter 40
The Economic Impact of Casino GamblingChapter 41 Why College Textbooks Cost So MuchGlossaryIndex