Introduction to the Student and Teacher; Unit 1. Introduction to Economics: Chapter 1. The Foundations of Economics; Unit 2. Microeconomics: Chapter 2. Competitive markets: demand and supply; Chapter 3. Elasticities; Chapter 4. Government intervention in microeconomics; Chapter 5. Market failure and socially undesirable outcomes I: Common pool resources and negative externalities; Chapter 6. Market failure and socially undesirable outcomes II: Positive externalities, public goods, asymmetric information and inability to achieve equity; Chapter 7. Market failure and socially undesirably outcomes III: Market power (HL only); Unit 3. Macroeconomics: Chapter 8. The level of overall economic activity; Chapter 9. Aggregate demand and aggregate supply; Chapter 10. Macroeconomic objectives I: Low unemployment, low and stable rate of inflation; Chapter 11. Macroeconomic objectives II: Economic growth, sustainable level of debt; Chapter 12. Economics of inequality and poverty; Chapter 13. Demand-side and supply-side policies; Unit 4. The Global Economy: Chapter 14. International trade: Part 1; Chapter 15. International trade: Part 2; Chapter 16. Exchange rates and the balance of payments; Chapter 17. Further topics on exchange rates and the balance of payments (HL only); Chapter 18. Understanding economic development; Chapter 19. Barriers to economic growth and economic development; Chapter 20. Strategies to promote economic growth and economic development; Glossary.