Essentials of Economics
Fourth Edition| ©2017 Paul Krugman; Robin Wells
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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. Integrated Technology 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.
New to This EditionNew Chapter 11, Poverty, Inequality, and the Welfare State examines the problem of poverty and the issue of income inequality, and offers a comprehensive overview of the welfare state and its philosophical foundations. The chapter also takes a detailed look at health care economics, including an up-close look at the Affordable Care Act.New Chapter 8, Monopoly, with coverage of price discrimination, created in response to reviewers’ input, consolidates the book’s core coverage of monopolies, adding a new discussion of the practice of charging customers different prices for the same product or service.New section on game theory in Chapter 9, Oligopoly and Monopolistic Competition brings to the chapter a relevant topic that resonates strongly with students, making teaching the chapter as a whole more effective.Many new and updated stories, applications, and cases covering a broad range of from-the-headlines topics, including sustainability, the impact of technology, the economic situation in Europe, and today’s policy debates. In all, there are 9 new opening stories, 18 new Economics in Actions, 10 new Business Cases, dozens of updated examples, and a thorough updating of data thoroughout the book. New features in LaunchPad including a new math and graphing review, new activities designed to motivate learning and encourage success in the course, and enhanced integration between LaunchPad and our in-text features and content.
Essentials of Economics
Fourth Edition| ©2017
Paul Krugman; Robin Wells
Read online (or offline) with all the highlighting and notetaking tools you need to be successful in this course.
Table of ContentsPART 1 What Is Economics? Chapter 1 First Principles Chapter 2 Economic Models: Trade-offs and Trade Appendix Graphs in Economics PART 2 Supply and Demand Chapter 3 Supply and Demand Chapter 4 Price Controls and Quotas: Meddling with Markets Chapter 5 Elasticity and Taxation PART 3 The Production Decision Chapter 6 Behind the Supply Curve: Inputs and Costs Chapter 7 Perfect Competition and the Supply Curve PART 4 Beyond Perfect Competition Chapter 8 Monopoly Chapter 9 Oligopoly and Monopolistic Competition PART 5 Microeconomics and Public Policy Chapter 10 Externalities and Public Goods Chapter 11 Poverty, Inequality, and the Welfare State PART 6 Introduction to Macroeconomics Chapter 12 Macroeconomics: The Big Picture Chapter 13 GDP and the CPI: Tracking the Macroeconomy Chapter 14 Unemployment and Inflation PART 6 Economic Growth and Fluctuations Chapter 15 Long-Run Economic Growth Chapter 16 Aggregate Demand and Aggregate Supply PART 7 Stabilization Policy Chapter 17 Fiscal Policy Chapter 18 Money, Banking, and the Federal Reserve System Chapter 19 Monetary Policy PART 8 The International Economy Chapter 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.
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Paul Krugman on Economics and Economists