Description Microeconomics to Macroeconomics from the author who has written about economics for more non-economists than anyone else in the world.
Written for the one-semester survey of economics course, Paul Krugman and Robin Wells' Essentials of Economics reflects the authors’ strong belief that economics students learn best from a resource that offers:
Compelling Real World Stories and Examples
Essentials of Economics is built around narratives and stories, many of them pulled from real life. In every chapter real-world examples are used to teach core concepts and motivate student learning.
Global Focus Essentials of Economics is unrivaled in its worldwide perspective, which is deeply integrated into the narrative, and featured in many of the applications, cases, and stories, as well as in the data-based Global Comparison boxed features.
Developed simultaneously chapter by chapter and designed for seamless integration with the book, LaunchPad for Essentials of Economics gives students access to an extensive collection of proven learning tools, developed to correspond with specific text content: adaptive quizzing, tutorials, videos, activities, and a comprehensive review of math and graphing. The goals for these resources are the same as for the text itself: better engagement, better understanding, and better grades.
Table of Contents
PART I: WHAT IS ECONOMICS?
1. First Principles
2. Economic Models: Trade-offs and Trade
PART II: SUPPLY AND DEMAND
3. Supply and Demand
4. Price Controls and Quotas: Meddling with Markets
5. Elasticity and Taxation
PART III: THE PRODUCTION DECISION
6. Behind the Supply Curve: Inputs and Costs
7. Perfect Competition and the Supply Curve
PART IV: BEYOND PERFECT COMPETITION
9. Oligopoly and Monopolistic Competition
PART V: INTRODUCTION TO MACROECONOMICS
10. Externalities and Public Goods
11. Poverty, Inequality, and the Welfare State
PART VI: Introduction to Macroeconomics
12. Macroeconomics: The Big Picture
13. GDP and the CPI: Tracking the Macroeconomy
14. Unemployment and Inflation
PART VII: Economic Growth and Fluctuations
15. Long-Run Economic Growth
16. Aggregate Demand and Aggregate Supply
PART VIII: Stabilization Policy
17. Fiscal Policy
18. Money, Banking, and the Federal Reserve System
19. Monetary Policy
PART XIV: The International Economy
20. International Trade, Capital Flows, and Exchange Rates
Paul Krugman, recipient of the 2008 Nobel Memorial Prize in Economic Sciences, taught at Princeton University for 14 years. In 2015, he joined the faculty of the Graduate Center of the City University of New York, associated with the Luxembourg Income Study, which tracks and analyzes income inequality around the world. He received his BA from Yale and his PhD from MIT. Before Princeton, he taught at Yale, Stanford, and MIT. He also spent a year on the staff of the Council of Economic Advisers in 1982–1983. His research has included trailblazing work on international trade, economic geography, and currency crises. In 1991, Krugman received the American Economic Association’s John Bates Clark medal. In addition to his teaching and academic research, Krugman writes extensively for nontechnical audiences. He is a regular op-ed columnist for the New York Times. His best-selling trade books include End This Depression Now!, The Return of Depression Economics and the Crisis of 2008, a history of recent economic troubles and their implications for economic policy, and The Conscience of a Liberal, a study of the political economy of economic inequality and its relationship with political polarization from the Gilded Age to the present. His earlier books, Peddling Prosperity and The Age of Diminished Expectations, have become modern classics.
Robin Wells was a lecturer and researcher in Economics at Princeton University, where she has taught undergraduate courses. She received her BA from the University of Chicago and her PhD from the University of California, Berkeley; she then did her postdoctoral work at MIT. She has taught at the University of Michigan, the University of Southhampton (United Kingdom), Stanford, and MIT.