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When it comes to explaining current economic conditions, there is no economist readers trust more than New York Times columnist 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 Economics is their most accomplished yet—extensively updated to offer new examples and stories, new case studies from the business world, and expert coverage of the ongoing financial crisis.
Watch a video interview of Paul Krugman here.
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
PART 3 Individuals and Markets
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
15 Monopolistic Competition and Product Differentiation
PART 8 Microeconomics and Public Policy
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