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Macroeconomics
Seventh Edition ©2024 Paul Krugman; Robin Wells Formats: Achieve, E-book, Print
As low as $88.99
As low as $88.99
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Authors
-
Paul Krugman
Paul Krugman, recipient of the 2008 Nobel Memorial Prize in Economic Sciences, is a faculty member 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. Prior to that, he taught at Princeton University for 14 years. He received his Barroom 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 pathbreaking 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-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. She received her BA from the University of Chicago and her PhD from the University of California at Berkeley; she then did postdoctoral work at MIT. She has taught at the University of Michigan, the University of Southampton (United Kingdom), Stanford, and MIT.
-
Iris Au
Iris Au is a Professor, Teaching Stream in Economics at the University of Toronto Scarborough (UTSC). She received her BA, MA, and PhD from Simon Fraser University. She taught at Simon Fraser University and Kwantlen University College (now known as Kwantlen Polytechnic University) before joining UTSC. Currently, she teaches introductory and intermediate macroeconomics, international finance, economics of public policy, and topics on financial crises on a regular basis.
-
Jack Parkinson
Jack Parkinson is an Associate Professor, Teaching Stream in Economics at the University of Toronto Scarborough (UTSC). He received his Hons. BA from Western University and his MA and PhD from the University of Toronto. He has worked as a corporate tax policy analyst for the Ontario Ministry of Finance while teaching during his lunchtime or evenings. Over the past 30 years he has taught on all three campuses of the University of Toronto. Currently, he teaches introductory microeconomics and macroeconomics, intermediate microeconomics and macroeconomics, money and banking, economics of organization, and industrial organization.
Table of Contents
Part 1: What is Economics?
Introduction: An Engine for Growth and Discovery
Chapter 1 First Principles
Chapter 2 Economic Models: Trade-offs and Trade
Appendix 2: Graphs in Economics
Part 2: Supply and Demand
Chapter 3 Supply and Demand
Chapter 4 Price Controls and Quotas: Meddling with Markets
Chapter 5 International Trade
Part 3: Introduction to Macroeconomics
Chapter 6 Macroeconomics: The Big Picture
Chapter 7 GDP and the CPI: Tracking the Macroeconomy
Chapter 8 Unemployment and Inflation
Part 4: Long-Run Economic Growth
Chapter 9 Long-Run Economic Growth
Chapter 10 Savings, Investment Spending, and the Financial System
Appendix 10: Toward a Fuller Understanding of Present Value
Part 5: Short-Run Economic Fluctuations
Chapter 11 Income and Expenditure
Appendix 11: Deriving the Multiplier Algebraically
Chapter 12 Aggregate Demand and Aggregate Supply
Part 6: Stabilization Policy
Chapter 13 Fiscal Policy
Appendix 13: Taxes and the Multiplier
Chapter 14 Money, Banking, and the Federal Reserve System
Chapter 15 Monetary Policy
Appendix 15: Reconciling the Two Models of the Interest Rate
Chapter 16 Inflation, Disinflation, and Deflation
Part 7: Events and Ideas
Chapter 17 Macroeconomics: Events and Ideas
Part 8: The Open Economy
Chapter 18 International Macroeconomics
Product Updates
Summer 2026 Updates
What's New
The Summer 2026 update brings refreshed teaching resources and extensive ebook revisions that incorporate current economic data, policy developments, and real-world examples to support today's introductory economics courses.
New in the eBook
Highlights
- Enhanced interactive graphs throughout the ebook.
- New and updated chapter openers, Business Cases, and Economics in Action features.
- Expanded coverage of current topics, including AI, 2025 steel tariffs, climate policy, banking regulation, and monetary policy.
- Updated economic data throughout key macroeconomics chapters.
Chapter Updates
Major updates across the macroeconomics chapters improve clarity, incorporate current economic developments, and refresh data through 2024–2025. Highlights include:
- Updated examples and data on Economic Models.
- Updated examples and data on Price Controls and Quotas.
- Updated examples and data on International Trade.
- Updates to Macroeconomics, GDP and the CPI, and Unemployment and Inflation.
- Updates to Long-Run Economic Growth.
- Updates to Fiscal Policy.
- Updates to Money, Banking, and the Federal Reserve System.
- Updates to Monetary Policy.
- Updates to Inflation, Disinflation, and Deflation.
December 2025 Update: Impact of AI Modules
The Impact of AI modules in Achieve are a flexible, text-agnostic series of assignable, auto-graded activities designed to help students learn how to use AI responsibly through the lens of economics. Formats include case studies, simulations, and prompt engineering exercises.
Fall 2025: New Author Podcast Activities!
Bring today’s economic headlines into your Achieve course with our new podcast-based activities, featuring curated content from Paul Krugman’s popular Substack. Narrated by Krugman himself, these timely episodes explore pressing topics—such as tariffs, inflation, and monetary policy—while reinforcing core concepts from the textbook.
Each podcast is paired with auto-graded multiple-choice questions in Achieve, making them easy to assign and assess. New activities will be added regularly to reflect emerging economic trends and developments.
This format has proven highly effective in engaging today’s students—combining expert insight with an accessible, on-the-go experience. Instructors using similar tools in other economics courses report strong student feedback and deeper understanding of complex material.
Winter 2024 Updates:
The updated Econ Math and Graphing Tutorials in Achieve bridge foundational math gaps for economics students through revamped, interactive modules featuring modern videos, algorithmically generated questions, and improved assessments designed to deepen understanding and reflection. Comprehensive accessibility features ensure that all students can effectively engage with the material.
This materials covers 10 foundational areas including Slope, Graphs, Percent Change, Ratios, Linear Equations, Averages, and more.
Seventh Edition Updates (2024):
Interactive Graphs in the e–book and in a Graphing Bank allow students to engage with economic models to see how components of the graph change as market dynamics change. Every data graph in the text is now interactive, so students can explore live visualizations and improve their data literacy.
Interactive Topic Reviews, with embedded interactive graphs and assessment, cover essential principles topics in an easy-to-use, self-study format, to help students prepare for class time, quizzes, or exams.
Thoroughly revised aggregate demand and aggregate supply chapter now highlights the dynamic relationship between inflation and GDP. This change allows instructors to more easily teach students about the modern changes to monetary policy and how the Federal Reserve has responded to the latest inflationary pressures.
Revamped AD/AS model now focusing on the inflation rate and GDP, rather than the price level, giving students a more practical and applicable understanding of the current economic landscape.
Authors
-
Paul Krugman
Paul Krugman, recipient of the 2008 Nobel Memorial Prize in Economic Sciences, is a faculty member 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. Prior to that, he taught at Princeton University for 14 years. He received his Barroom 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 pathbreaking 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-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. She received her BA from the University of Chicago and her PhD from the University of California at Berkeley; she then did postdoctoral work at MIT. She has taught at the University of Michigan, the University of Southampton (United Kingdom), Stanford, and MIT.
-
Iris Au
Iris Au is a Professor, Teaching Stream in Economics at the University of Toronto Scarborough (UTSC). She received her BA, MA, and PhD from Simon Fraser University. She taught at Simon Fraser University and Kwantlen University College (now known as Kwantlen Polytechnic University) before joining UTSC. Currently, she teaches introductory and intermediate macroeconomics, international finance, economics of public policy, and topics on financial crises on a regular basis.
-
Jack Parkinson
Jack Parkinson is an Associate Professor, Teaching Stream in Economics at the University of Toronto Scarborough (UTSC). He received his Hons. BA from Western University and his MA and PhD from the University of Toronto. He has worked as a corporate tax policy analyst for the Ontario Ministry of Finance while teaching during his lunchtime or evenings. Over the past 30 years he has taught on all three campuses of the University of Toronto. Currently, he teaches introductory microeconomics and macroeconomics, intermediate microeconomics and macroeconomics, money and banking, economics of organization, and industrial organization.
Table of Contents
Part 1: What is Economics?
Introduction: An Engine for Growth and Discovery
Chapter 1 First Principles
Chapter 2 Economic Models: Trade-offs and Trade
Appendix 2: Graphs in Economics
Part 2: Supply and Demand
Chapter 3 Supply and Demand
Chapter 4 Price Controls and Quotas: Meddling with Markets
Chapter 5 International Trade
Part 3: Introduction to Macroeconomics
Chapter 6 Macroeconomics: The Big Picture
Chapter 7 GDP and the CPI: Tracking the Macroeconomy
Chapter 8 Unemployment and Inflation
Part 4: Long-Run Economic Growth
Chapter 9 Long-Run Economic Growth
Chapter 10 Savings, Investment Spending, and the Financial System
Appendix 10: Toward a Fuller Understanding of Present Value
Part 5: Short-Run Economic Fluctuations
Chapter 11 Income and Expenditure
Appendix 11: Deriving the Multiplier Algebraically
Chapter 12 Aggregate Demand and Aggregate Supply
Part 6: Stabilization Policy
Chapter 13 Fiscal Policy
Appendix 13: Taxes and the Multiplier
Chapter 14 Money, Banking, and the Federal Reserve System
Chapter 15 Monetary Policy
Appendix 15: Reconciling the Two Models of the Interest Rate
Chapter 16 Inflation, Disinflation, and Deflation
Part 7: Events and Ideas
Chapter 17 Macroeconomics: Events and Ideas
Part 8: The Open Economy
Chapter 18 International Macroeconomics
Product Updates
Summer 2026 Updates
What's New
The Summer 2026 update brings refreshed teaching resources and extensive ebook revisions that incorporate current economic data, policy developments, and real-world examples to support today's introductory economics courses.
New in the eBook
Highlights
- Enhanced interactive graphs throughout the ebook.
- New and updated chapter openers, Business Cases, and Economics in Action features.
- Expanded coverage of current topics, including AI, 2025 steel tariffs, climate policy, banking regulation, and monetary policy.
- Updated economic data throughout key macroeconomics chapters.
Chapter Updates
Major updates across the macroeconomics chapters improve clarity, incorporate current economic developments, and refresh data through 2024–2025. Highlights include:
- Updated examples and data on Economic Models.
- Updated examples and data on Price Controls and Quotas.
- Updated examples and data on International Trade.
- Updates to Macroeconomics, GDP and the CPI, and Unemployment and Inflation.
- Updates to Long-Run Economic Growth.
- Updates to Fiscal Policy.
- Updates to Money, Banking, and the Federal Reserve System.
- Updates to Monetary Policy.
- Updates to Inflation, Disinflation, and Deflation.
December 2025 Update: Impact of AI Modules
The Impact of AI modules in Achieve are a flexible, text-agnostic series of assignable, auto-graded activities designed to help students learn how to use AI responsibly through the lens of economics. Formats include case studies, simulations, and prompt engineering exercises.
Fall 2025: New Author Podcast Activities!
Bring today’s economic headlines into your Achieve course with our new podcast-based activities, featuring curated content from Paul Krugman’s popular Substack. Narrated by Krugman himself, these timely episodes explore pressing topics—such as tariffs, inflation, and monetary policy—while reinforcing core concepts from the textbook.
Each podcast is paired with auto-graded multiple-choice questions in Achieve, making them easy to assign and assess. New activities will be added regularly to reflect emerging economic trends and developments.
This format has proven highly effective in engaging today’s students—combining expert insight with an accessible, on-the-go experience. Instructors using similar tools in other economics courses report strong student feedback and deeper understanding of complex material.
Winter 2024 Updates:
The updated Econ Math and Graphing Tutorials in Achieve bridge foundational math gaps for economics students through revamped, interactive modules featuring modern videos, algorithmically generated questions, and improved assessments designed to deepen understanding and reflection. Comprehensive accessibility features ensure that all students can effectively engage with the material.
This materials covers 10 foundational areas including Slope, Graphs, Percent Change, Ratios, Linear Equations, Averages, and more.
Seventh Edition Updates (2024):
Interactive Graphs in the e–book and in a Graphing Bank allow students to engage with economic models to see how components of the graph change as market dynamics change. Every data graph in the text is now interactive, so students can explore live visualizations and improve their data literacy.
Interactive Topic Reviews, with embedded interactive graphs and assessment, cover essential principles topics in an easy-to-use, self-study format, to help students prepare for class time, quizzes, or exams.
Thoroughly revised aggregate demand and aggregate supply chapter now highlights the dynamic relationship between inflation and GDP. This change allows instructors to more easily teach students about the modern changes to monetary policy and how the Federal Reserve has responded to the latest inflationary pressures.
Revamped AD/AS model now focusing on the inflation rate and GDP, rather than the price level, giving students a more practical and applicable understanding of the current economic landscape.
Krugman/Wells helps your students achieve economic understanding
Available with Achieve, Krugman and Wells’ widely adopted text helps students reach new levels of economic understanding.
The seventh edition is revised and enhanced, including new interactive graphs, interactive topic reviews, updated data, and new/updated Business Cases and Economics in Action boxes.
Success Stories
Here are a few examples of how Achieve has helped instructors like you improve student preparedness, enhance their sense of belonging, and achieve course goals they set for themselves.
Prof. Kiandra Johnson, Spelman College
See how the resources in Achieve help you engage students before, during, and after class.
Prof. Jennifer Duncan
Use diagnostics in Achieve for a snapshot into cognitive and non-cognitive factors that may impact your students’ preparedness.
Prof. Ryan Elsenpeter
Here’s why educators who use Achieve would recommend it to their peers.
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Test Bank for Macroeconomics
Paul Krugman; Robin Wells | Seventh Edition | ©2024 | ISBN:9781319481551
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Are you a campus bookstore looking for ordering information?
MPS Order Search Tool (MOST) is a web-based purchase order tracking program that allows customers to view and track their purchases. No registration or special codes needed! Just enter your BILL-TO ACCT # and your ZIP CODE to track orders.
Canadian Stores: Please use only the first five digits/letters in your zip code on MOST.
Visit MOST, our online ordering system for booksellers: https://tracking.mpsvirginia.com/Login.aspx
Learn more about our Bookstore programs here: https://www.macmillanlearning.com/college/us/contact-us/booksellers
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Our courses currently integrate with Canvas, Blackboard (Learn and Ultra), Brightspace, D2L, and Moodle. Click on the support documentation below to find out more details about the integration with each LMS.
Integrate Macmillan courses with Blackboard
Integrate Macmillan courses with Canvas
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If you’re a verified instructor, you can request a free sample of our courseware, e-book, or print textbook to consider for use in your courses. Only registered and verified instructors can receive free print and digital samples, and they should not be sold to bookstores or book resellers. If you don't yet have an existing account with Macmillan Learning, it can take up to two business days to verify your status as an instructor. You can request a free sample from the right side of this product page by clicking on the "Request Instructor Sample" button or by contacting your rep. Learn more.
-
-
-
Sometimes also referred to as a spiral-bound or binder-ready textbook, loose-leaf textbooks are available to purchase. This three-hole punched, unbound version of the book costs less than a hardcover or paperback book.
-
-
-
Achieve (full course) includes our complete e-book, as well as online quizzing tools, multimedia assets, and iClicker active classroom manager.
Most Achieve Essentials courses do not include our e-books and adaptive quizzing.
Visit our comparison table for details: https://www.macmillanlearning.com/college/us/digital/achieve/compare
-
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-
Achieve (full course) includes our complete e-book, as well as online quizzing tools, multimedia assets, and iClicker active classroom manager.
Achieve Read & Practice only includes our e-book and adaptive quizzing, and does not include instructor resources and assignable assessments. Read & Practice does integrate with LMS.
Visit our comparison table for details: https://www.macmillanlearning.com/college/us/digital/achieve/compare
-
-
-
We can help! Contact your representative to discuss your specific needs for your course. If our off-the-shelf course materials don’t quite hit the mark, we also offer custom solutions made to fit your needs.
-
Macroeconomics
Available with Achieve, Krugman and Wells’ widely adopted text helps students reach new levels of economic understanding.
The seventh edition is revised and enhanced, including new interactive graphs, interactive topic reviews, updated data, and new/updated Business Cases and Economics in Action boxes.
Select a demo to view:
Sample Achieve