Unit One
Text： What Is Economics?
Additional Text： ?The Economic Problem
Unit Two
Text： Demand and Supply
Additional Text： Utility and Consumer Choice
Unit Three
Text： Price Elasticities of Demand and Supply
Additional Text： ? The Factors Influencing the Price
Elasticities of Demand and Supply
Unit Four
Text： Cost of Production
Additional Text： Economies and Diseconomies of Scale
Unit Five
Text： Monopoly
Additional Text： Perfect Competition
Unit Six
Text： Oligopoly
Additional Text： Monopolistic Competition
Unit Seven
Text： Gross Domestic Product
Additional Text： Two Alternative Approaches of Measuring GDP
Unit Eight
Text： Economic Growth
Additional Text： Sources of Economic Development
Unit Nine
Text： Inflation
Additional Text： Unemployment
Unit Ten
Text： Money and Banking
Additional Text： ? The U.S. Central Bank： ?The Federal Reserve System
Unit Eleven
Text： Foreign Exchange and Exchange Rate
Additional Text： ?The Effects of Exchange Rates on the Economy
Unit Twelve
Text： ?The Balance of Payments
Additional Text： International Monetary Systems
Unit Thirteen
Text： Fiscal and Monetary Policy
Additional Text： Lags in the Economy’s Response to Monetary and Fiscal Policy
Unit Fourteen
Text： Role of Government in the Economy
Additional Text： Government’s Policies Toward Externalities
Appendix ⅠAnswers to Exercises
Appendix ⅡChinese Translation of the Texts
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