Essentials of Economics
Fifth Edition ©2020
Paul Krugman and Robin Wells’ signature story style helps one-semester Survey course students understand how economic concepts play out in our world. The new edition, revised and enhanced throughout, now offers holistic digital learning tools as part of Achieve, a complete, integrated online lear...
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The greatest explainers of economics tackle the one-semester course.
Paul Krugman and Robin Wells’ signature story style helps one-semester Survey course students understand how economic concepts play out in our world. The new edition, revised and enhanced throughout, now offers holistic digital learning tools as part of Achieve, a complete, integrated online learning system.
“I really liked the emphasis on key principles the authors emphasized throughout the book. Since many of our students will take only one economics course during college, I felt this helped ensure that they would take away some central ideas with them beyond the course and beyond (I hope!) their college years.”
— Michele Villinski, DePauw University
“I liked this edition of Krugman/Wells Essentials very much. It presents the core abstract concepts of an introductory course in a clear and compact manner and provides multiple opportunities to apply those abstractions to real and relevant situations.”
— Diego Mendez-Carbajo, Illinois Wesleyan University
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Table of Contents
Part 1 What Is Economics?
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 Elasticity and Taxation
Part 3 The Production Decision
6 Behind the Supply Curve: Inputs and Costs
7 Perfect Competition and the Supply Curve
Part 4 Beyond Perfect Competition
8 Monopoly
9 Oligopoly and Monopolistic Competition
Part 5 Microeconomics and Public Policy
10 Externalities and Public Goods
11 Poverty, Inequality, and the Welfare State
Part 6 Introduction to Macroeconomics
12 Macroeconomics: The Big Picture
13 GDP and the CPI: Tracking the Macroeconomy
14 Unemployment and Inflation
Part 7 Economic Growth and Fluctuations
15 Long-Run Economic Growth
16 Aggregate Demand and Aggregate Supply
Part 8 Stabilization Policy
17 Fiscal Policy
18 Money, Banking, and the Federal Reserve System
19 Monetary Policy
Part 9 The International Economy
20 International Trade, Capital Flows, and Exchange Rates
Solutions to Check Your Understanding Questions
Glossary
Index
Authors
Paul Krugman
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
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 Southampton (United Kingdom), Stanford, and MIT.
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Paul Krugman; Robin Wells | Fifth Edition | ©2020 | ISBN:9781319268282
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