Modern Principles of Economics

By Tyler Cowen and Alex Tabarrok


Select a chapter for the corresponding Planet Money episodes.

Chapter 1. The Big Ideas in Economics
Chapter 2. The Power of Trade and Comparative Advantage

Part 1: Supply and Demand
Chapter 3. Supply and Demand
Chapter 4. Equilibrium: How Supply and Demand Determine Prices
Chapter 5. Elasticity and Its Applications
Chapter 6. Taxes and Subsidies

Part 2: The Price System
Chapter 7. The Price System: Signals, Speculation, and Prediction
Chapter 8. Price Ceilings and Floors
Chapter 9. International Trade
Chapter 10. Externalities: When the Price Is Not Right

Part 3: Firms and Factor Markets
Chapter 11. Costs and Profit Maximization under Competition
Chapter 12. Competition and the Invisible Hand
Chapter 13. Monopoly
Chapter 14. Price Discrimination and Pricing Strategy
Chapter 15. Oligopoly and Game Theory
Chapter 16. Competing for Monopoly: The Economics of Network Goods
Chapter 17. Monopolistic Competition and Advertising
Chapter 18. Labor Markets

Part 4: Government
Chapter 19. Public Goods and the Tragedy of the Commons
Chapter 20. Political Economy and Public Choice
Chapter 21. Economics, Ethics, and Public Policy

Part 5: Decision Making for Businesses, Investors, and Consumers
Chapter 22. Managing Incentives
Chapter 23. Stock Markets and Personal Finance
Chapter 24. Asymmetric Information: Moral Hazard and Adverse Selection
Chapter 25. Consumer Choice

Part 6: Economic Growth
Chapter 26. GDP and the Measurement of Progress
Chapter 27. The Wealth of Nations and Economic Growth
Chapter 28. Growth, Capital Accumulation, and the Economics of Ideas: Catching Up vs. the Cutting Edge
Chapter 29. Saving, Investment, and the Financial System

Part 7: Business Fluctuations
Chapter 30. Unemployment and Labor Force Participation
Chapter 31. Inflation and the Quantity Theory of Money
Chapter 32. Business Fluctuations: Aggregate Demand and Supply
Chapter 33. Transmission and Amplification Mechanisms

Part 8: Macroeconomic Policy and Institutions
Chapter 34. The Federal Reserve System and Open Market Operations
Chapter 35. Monetary Policy
Chapter 36. The Federal Budget: Taxes and Spending
Chapter 37. Fiscal Policy

Part 9: International Economics
Chapter 38. International Finance