1. Allocation Mechanisms
   1. Efficiency
   2. Alternatives to Market Allocation
2. How Markets Function
3. Demand
   1. The Law of Demand
   2. The Demand Schedule
   3. The Demand Curve
   4. From Individual Demand Curves to a Market Curve
   5. Changes in Demand and Changes in Quantity Demanded
   6. International Effects
4. Supply
   1. The Law of Supply
   2. The Supply Schedule and Supply Curve
   3. From Individual Supply Curves to the Market Supply
   4. Changes in Supply and Changes in Quantity Supplied
   5. International Effects
5. Equilibrium: Putting Demand and Supply Together
   1. Determination of Equilibrium
   2. Changes in the Equilibrium Price: Demand Shifts
   3. Changes in the Equilibrium Price: Supply Shifts
6. Alternatives to Market Allocation
   1. Disagreement with the Market Outcome
   2. Inefficiencies

Summary/Key Terms/Exercises