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Written specifically for AP® students and teachers by AP® Economics experts, Krugman’s Economics for the AP® Course contains all the content, practice, and support you need to master the AP® Economics skills and course.
Macroeconomics
UNIT 1 Basic Economic Concepts
1.1 Scarcity and Choice1.2 Opportunity Cost and the Production Possibilities Curve Model1.3 Comparative Advantage and Gains from Trade1.4 Demand1.5 Supply1.6 Market Equilibrium, Disequilibrium, and Changes in Equilibrium
Unit 2 Economic Indicators and the Business Cycle
2.1 The Circular Flow and Gross Domestic Product2.2 Limitations of Gross Domestic Product2.3 Unemployment2.4 Price Indices and Inflation2.5 Costs of Inflation2.6 Real Versus Nominal Gross Domestic Product2.7 Business Cycles
Unit 3 National Income and Price Determination
3.1 Aggregate Demand 3.2 Multipliers3.3 Short-Run Aggregate Supply3.4 The Long-Run Aggregate Supply Curve3.5 Equilibrium in the Aggregate Demand–Aggregate Supply Model3.6 Short-Run Changes in the Aggregate Demand–Aggregate Supply Model3.7 Long-Run Self Adjustment in the Aggregate Demand–Aggregate Supply Model3.8 Fiscal Policy3.9 Automatic Stabilizers
Unit 4 The Financial Sector
4.1 Financial Assets4.2 Nominal Versus Real Interest Rates4.3A Definition, Measurement, and Functions of Money4.3B Central Banks and the Federal Reserve4.4 Banking and the Expansion of the Money Supply4.5 The Money Market4.6 Monetary Policy4.7 The Loanable Funds Market
Unit 5 Long-Run Consequences of Stabilization Policies
5.1 Fiscal and Monetary Policy Actions in the Short Run5.2 The Phillips Curve5.3 Money Growth and Inflation5.4 Government Deficits and the National Debt5.5 Crowding Out5.6 Economic Growth5.7 Public Policy and Economic Growth
Unit 6 International Trade and Finance
6.1 Balance of Payments Accounts6.2 Exchange Rates6.3 The Foreign Exchange Market6.4 Changes in Policies, Economic Conditions, and the Foreign Exchange Market6.5 The Foreign Exchange Market and Net Exports6.6 Real Interest Rate and International Capital FlowsAppendix Putting it All Together
AP® Macroeconomics ExamPractice Test
Macroeconomics Enrichment ModulesA: Recession and Recovery During the PandemicB: Federal Reserve Monetary Policy in an Ample Reserve Regime
Microeconomics
1.1 Scarcity and Choice1.2 Economic Systems1.3 The Production Possibilities Curve1.4 Comparative Advantage and Trade1.5 Cost-Benefit Analysis1.6 Consumer Choice
Unit 2 Supply and Demand
2.1 Demand2.2 Supply2.3 Price Elasticity of Demand2.4 Price Elasticity of Supply2.5 Income Elasticity and Cross-Price Elasticity2.6 Consumer Surplus, Producer Surplus, and Market Equilibrium 2.7 Market Disequilibrium and Changing Market Conditions2.8A Government Intervention: Taxes, Subsidies, and Markey Efficiency2.8B Government Intervention: Price and Quantity Controls2.9 International Trade and Public Policy
Unit 3 Production Costs, Profit, and Perfect Competition
3.1 The Production Function3.2 Short-Run Production Costs3.3 Long-Run Production Costs3.4 Types of Profit3.5 Profit Maximization3.6 Firms’ Entry and Exit Decisions3.7 Perfect Competition
Unit 4 Imperfect Competition
4.1 Introduction to Imperfect Competition4.2 Monopoly4.3 Price Discrimination4.4 Monopolistic Competition4.5 Oligopoly and Game Theory
Unit 5 Factor Markets
5.1 Introduction to Factor Markets5.2 Changes in Factor Demand and Supply5.3 Profit Maximization in Factor Markets5.4 Monopsony
Unit 6 Market Failure and the Role of Government
6.1 Market Outcomes and Social Efficiency6.2 Externalities6.3 Public Goods6.4 Government Policies6.5 Income and Wealth InequalityAP® Microeconomics ExamPractice Test
Microeconomics Enrichment ModulesC: Behavioral EconomicsD: The Economics of InformationE: Indifference Curves and Consumer Choice
AP® Economics Skills Appendix:Graphs in Economics
Financial Literacy HandbookGlossary/GlosarioIndex
The New copy of this book will include any supplemental materials advertised. Please check the title of the book to determine if it should include any access cards, study guides, lab manuals, CDs, etc.
The Used, Rental and eBook copies of this book are not guaranteed to include any supplemental materials. Typically, only the book itself is included. This is true even if the title states it includes any access cards, study guides, lab manuals, CDs, etc.