Essentials of Economics by Paul Krugman; Robin Wells - Fifth Edition, 2020 from Macmillan Student Store
Tailor This Text
New

Essentials of Economics

Fifth Edition ©2020 Paul Krugman; Robin Wells

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 SaplingPlus, a complete, integrated online

Read more
Students - Buy or Rent
Essentials of Economics by Paul Krugman; Robin Wells - Fifth Edition, 2020 from Macmillan Student Store

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 SaplingPlus, a complete, integrated online learning system.

Features

Compelling chapter-opening stories (often revisited throughout the chapter) to engage students.

Economics in Action applications in virtually every major section, so students can immediately see economic concepts applied in real contexts.

Global Comparison features that use data and graphs to illustrate why countries reach different economic outcomes.

Pitfalls boxes teach students to identify and avoid common misconceptions about economic concepts.

Business Cases for each section, spanning a wide range of companies, both American and global, showing students how key economic principles apply to real-life business situations.

End-of-chapter Solved Problems guide students through solving specific problems tied to real-world events.

Work it Out skill-building interactive activities in SaplingPlus help students understand concepts and practice for exams by guiding them through representative problems step-by-step.

New to This Edition

Technology that offers the best value and price. Because students’ needs are changing, our most powerful learning option is now also our most affordable. SaplingPlus is a new digital solution that supports students and instructors at each stage in the learning path, from pre-class to in-class and post-class. It combines LearningCurve with an integrated eBook, robust homework, an improved Graphing Player, and fully digital end-of-chapter problems including Work It Outs. And if print is important, a package with a loose-leaf copy of the text is only a few dollars more.

New Discovering Data activities help students interpret, analyze, share, and report on data. Students develop data literacy by completing these new Interactive Activities, step-by-step problems that have students use up-to-the-minute FRED data.
　
Current events framed by the world’s best communicators of economics. No other text stays as fresh as Krugman and Wells. The authors—who have explained economics to millions through trade books and newspaper columns—offer a new online feature, News Analysis, that pairs journalistic takes on pressing issues with questions based on Bloom’s taxonomy. This complements the text’s unparalleled coverage of current topics: sustainability, the economic impact of technology, pressing policy debates, and much more.

A richer commitment to broadening students’ understanding of the global economy. With unparalleled insight and clarity, the authors use their hallmark narrative approach to take students outside of the classroom and into our global world. Starting with a new opening story on the economic transformation in China’s Pearl River Delta, the global focus is carried throughout with more on the ascendance of China’s economy, the Euro and events in Europe (including Brexit), and post-recession economies around the globe.

Thoroughly updated throughout. The fifth edition has been updated to reflect our always changing world. Along with updated graphs and changes in every chapter in the text, the new edition features 9 new chapter-opening stories, 12 new Business cases, and 20 new Economics in Action applications.

“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

Digital Options

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
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 

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 Southhampton (United Kingdom), Stanford, and MIT.

Paul Krugman on Economics and Economists

Author Talk