Includes bibliographical references and index.

Welcome to real-world economics -- Markets are neither omniscient nor omnipotent -- The nature of demand -- Homo oeconomicus is extinct : the foundations of behavioral economics -- Taste makers and consumption -- Firms and imperfect competition -- Returns to the factors of production -- The case for oversight, regulation, and control of markets -- Microeconomic applications on and off the blackboard -- What is macroeconomics? -- Macroeconomics part II-- Macroeconomics part III -- International trade : open economy macroeconomics -- The financial crisis of 2008 -- Conclusion: the foundations of real world economics -- Index.