It does not include PowerPoint or Outlook. The Started edition of Office consists of limited-functionality versions of Word and Excel and includes advertising. Microsoft Office 2010 Starter is available exclusively with OEM-supplied computer. All these retail versions are easily available for purchase but not the Starter edition.
Other than the free Started edition, the productive suite is available as Home and Student, Home and Business, Standard, Professional, Professional Academic, Professional Plus editions. Microsoft Office 2010 Starter edition is a scaled down freeware version of the full-fledged Microsoft Office 2010.