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When it comes to explaining current economic conditions, there is no economist readers trust more than New York Timescolumnist and Nobel laureate Paul Krugman. Term after term, Krugman is earning that same level of trust in the classroom, with more and more instructors introducing students to the fundamental principles of economics via Krugman's signature storytelling style. The new Third Edition of Paul Krugman and Robin Wells's Economicsis their most accomplished yetextensively updated to offer new examples and stories, new case studies from the business world, and expert coverage of the ongoing financial crisis.
Table of Contents
PART 1 What is Economics? Intro: The Ordinary Business of Life 1. First Principles 2. Economic Models: Trade-offs and Trade Appendix: Graphs in Economics
PART 2 Supply and Demand 3. Supply and Demand 4. Consumer and Producer Surplus 5. Price Controls and Quotas: Meddling with Markets 6. Elasticity
PART 3 Individuals and Markets 7. Taxes 8. International Trade
PART 4 Economics and Decision Making 9. Making Decisions
PART 5 The Consumer 10. The Rational Consumer Appendix: Consumer Preferences and Consumer Choice
PART 6 The Production Decision 11. Behind the Supply Curve: Inputs and Costs 12. Perfect Competition and the Supply Curve
PART 7 Market Structure: Beyond Perfect Competition 13. Monopoly 14. Oligopoly 15. Monopolistic Competition and Product Differentiation
PART 8 Microeconomics and Public Policy 16. Externalities 17. Public Goods and Common Resources 18. The Economics of the Welfare State
PART 9 Factor Markets and Risk 19. Factor Markets and the Distribution of Income Appendix: Indifference Curve Analysis of Labor Supply 20. Uncertainty, Risk, and Private Information
PART 10 Introduction to Macroeconomics 21. Macroeconomics: The Big Picture 22. Tracking the Macroeconomy 23. Unemployment and Inflation
PART 11 Long-Run Economic Growth 24. Long-Run Economic Growth 25. Savings, Investment Spending, and the Financial System
PART 12 Short-Run Economic Fluctuations 26. Income and Expenditure Appendix: Deriving the Multiplier Algebraically 27. Aggregate Demand and Aggregate Supply
PART 13 Stabilization Policy 28. Fiscal Policy Appendix: Taxes and the Multiplier 29. Money, Banking, and the Federal Reserve System 30. Monetary Policy Appendix: Reconciling Two Models of the Interest Rate 31. Inflation, Disinflation, and Deflation New! 32. Crises and Consequences
Part 14 Events and Ideas 33. Events and Ideas
PART 15. The Open Economy 34. Open-Economy Macroeconomics