OverviewPART I CREATING ECONOMIC VALUE. 1 Reasoning with Economics: Models and Information. 2 Transactions and Institutions: The Building Blocks. PART II MARKETS. 3 Markets. 4 Cost and Production. 5 Extreme Markets I: Perfect Competition. 6 Extreme Markets II: Monopoly. 7 Between the extremes: Interaction and Strategy. 8 Competition and Strategy. PART III CONTRACTS. 9 Beyond Markets; Property and Contracts. 10 The Economics of Contracts. 11 Risk and Information in Contracts. PART IV ORGANIZATIONS. 12 Organizations in Concept and Practice. 13 Organizational Design. PART V APPLICATIONS: VERTICAL INTEGRATION AND EMPLOYMENT. 14 Vertical Relationships. 15 Employment Relationships. 16 Time, Risk and Options. 17 Conflict, Negotiation and Group Choice.