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Part 1. The economic challenge. Economics: the core issues -- The U.S. economy: a global view -- Supply and demand -- The role of government -- Part 2. Measuring macro outcomes. National income accounting -- Unemployment -- Inflation -- Part 3. Cyclical instability. The business cycle -- Aggregate demand -- Self-adjustment or instability? -- Part 4. Fiscal policy tools. Fiscal policy -- Deficits and debt -- Part 5. Monetary policy options. Money and banks -- The federal reserve system -- Monetary policy -- Part 6. Supply-side options. Supply-side policy: short-run options -- Growth and productivity: long-run possibilities -- Part 7. Policy constraints. Theory versus reality -- Part 8. International economics. International trade -- International finance -- Global povery.