Synopses & Reviews
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 Krugmans signature storytelling style. The new Third Edition of Paul Krugman and Robin Wellss 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.
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 Price Controls and Quotas: Meddling with Markets
5 International Trade
Appendix: Consumer and Producer Surplus PART 3 Introduction to Macroeconomics
6 Macroeconomics: The Big Picture
7 Tracking the Macroeconomy
8 Unemployment and Inflation PART 4 Long-run Economic Growth
9 Long-Run Economic Growth
10 Savings, Investment Spending, and the Financial System PART 5 Short-run Economic Fluctuations
11 Income and Expenditure
Appendix: Deriving the Multiplier Algebraically
12 Aggregate Demand and Aggregate Supply PART 6 Stabilization Policy
13 Fiscal Policy
Appendix: Taxes and the Multiplier
14 Money, Banking, and the Federal Reserve System
15 Monetary Policy
Appendix: Reconciling Two Models of the Interest Rate
16 Inflation, Disinflation, and Deflation
17 Crises and Consequences PART 7 Events and Ideas
18 Events and Ideas PART 8 The Open Economy
19 Open-Economy Macroeconomics