This section sets the stage, reviewing microeconomic tools (supply and demand, elasticity) and introducing the scientific method of economics. It also covers the fascinating topic of and Externalities .

Downloading a full unauthorized PDF of the 7th edition is copyright infringement. More importantly, these files are often outdated; since the 7th edition’s release, the IRS has updated standard deductions and inflation adjustments, rendering printed static PDFs quickly obsolete.

The book covers a wide range of topics in public finance and public policy, including: