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Microeconomics
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.
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 Consumer and Producer Surplus
Chapter 5 Price Controls and Quotas: Meddling with Markets
Chapter 6 Elasticity
Part 3 Individuals and Markets
Chapter 7 Taxes
Chapter 8 International Trade
Part 4 Economics and Decision Making
Chapter 9 Decision Making by Individuals and Firms
Appendix 9: Toward a Fuller Understanding of Present Value
Part 5 Microeconomics and Public Policy
Chapter 10 Externalities
Chapter 11 Public Goods and Common Resources
Chapter 12 The Economics of the Welfare State
Part 6 The Consumer
Chapter 13 The Rational Consumer
Appendix 13: Consumer Preferences and Consumer Choice
Part 7 The Production Decision
Chapter 14 Behind the Supply Curve: Inputs and Costs
Chapter 15 Perfect Competition and the Supply Curve
Part 8 Market Structure: Beyond Perfect Competition
Chapter 16 Monopoly
Chapter 17 Oligopoly
Chapter 18 Monopolistic Competition and Product Differentiation
Part 9 Factor Markets and Risk
Chapter 19 Factor Markets and the Distribution of Income
Appendix 19: Indifference Curve Analysis of Labor Supply
Chapter 20 Uncertainty, Risk, and Private Information
Product Updates
What's New
The Summer 2026 update brings new data activities, refreshed teaching resources, and extensive ebook revisions to help instructors teach economics with the latest research, policy developments, and real-world examples.
New in Achieve
- New F.R.E.D. (Federal Reserve Economic Data) activities that give students hands-on experience analyzing real economic data.
- Updated lecture slides featuring dynamic Datawrapper visualizations.
- Refreshed student and instructor resources aligned with the latest ebook content.
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 timely topics, including price controls in Hungary, European energy markets, semiconductor chips for AI, 2025 steel tariffs, and companies such as Ford, Microsoft, and Tesla.
Chapter Updates
- Enhanced interactive graphs
- Updated examples and data on Economic Models
- Updated examples and data on Market Structures and Price Controls
- Updated examples and data on Elasticity
- Updated examples and data on Taxes and Externalities
- Updated examples and data on International Trade
- Updated examples and data on Decision Making and Consumer Behavior
- Updated examples and data on the Labor Market and Welfare State
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.
New focus on India’s economic growth during Covid, particularly its rise to become a technological powerhouse.
Integrated coverage of the pandemic throughout, including supply chain disruptions, federal funding for vaccine development, how Covid and the lockdown impacted the labor market and certain industries.
New modern examples that resonate with students, such as the day in the life of an Uber driver, selling clothes on Poshmark.
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.
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 Consumer and Producer Surplus
Chapter 5 Price Controls and Quotas: Meddling with Markets
Chapter 6 Elasticity
Part 3 Individuals and Markets
Chapter 7 Taxes
Chapter 8 International Trade
Part 4 Economics and Decision Making
Chapter 9 Decision Making by Individuals and Firms
Appendix 9: Toward a Fuller Understanding of Present Value
Part 5 Microeconomics and Public Policy
Chapter 10 Externalities
Chapter 11 Public Goods and Common Resources
Chapter 12 The Economics of the Welfare State
Part 6 The Consumer
Chapter 13 The Rational Consumer
Appendix 13: Consumer Preferences and Consumer Choice
Part 7 The Production Decision
Chapter 14 Behind the Supply Curve: Inputs and Costs
Chapter 15 Perfect Competition and the Supply Curve
Part 8 Market Structure: Beyond Perfect Competition
Chapter 16 Monopoly
Chapter 17 Oligopoly
Chapter 18 Monopolistic Competition and Product Differentiation
Part 9 Factor Markets and Risk
Chapter 19 Factor Markets and the Distribution of Income
Appendix 19: Indifference Curve Analysis of Labor Supply
Chapter 20 Uncertainty, Risk, and Private Information
Product Updates
What's New
The Summer 2026 update brings new data activities, refreshed teaching resources, and extensive ebook revisions to help instructors teach economics with the latest research, policy developments, and real-world examples.
New in Achieve
- New F.R.E.D. (Federal Reserve Economic Data) activities that give students hands-on experience analyzing real economic data.
- Updated lecture slides featuring dynamic Datawrapper visualizations.
- Refreshed student and instructor resources aligned with the latest ebook content.
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 timely topics, including price controls in Hungary, European energy markets, semiconductor chips for AI, 2025 steel tariffs, and companies such as Ford, Microsoft, and Tesla.
Chapter Updates
- Enhanced interactive graphs
- Updated examples and data on Economic Models
- Updated examples and data on Market Structures and Price Controls
- Updated examples and data on Elasticity
- Updated examples and data on Taxes and Externalities
- Updated examples and data on International Trade
- Updated examples and data on Decision Making and Consumer Behavior
- Updated examples and data on the Labor Market and Welfare State
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.
New focus on India’s economic growth during Covid, particularly its rise to become a technological powerhouse.
Integrated coverage of the pandemic throughout, including supply chain disruptions, federal funding for vaccine development, how Covid and the lockdown impacted the labor market and certain industries.
New modern examples that resonate with students, such as the day in the life of an Uber driver, selling clothes on Poshmark.
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 Microeconomics
Paul Krugman; Robin Wells | Seventh Edition | ©2024 | ISBN:9781319481254
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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
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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.
-
Microeconomics
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