Economics, 3rd Edition

When it comes to explaining current economic conditions, there is no economist readers trust more than New York Times columnist and Nobel laureate Paul Krugman.  Term after term, Krugman is earning that same level of trust in the classroom, with more and more instructors introducing students to the fundamental principles of economics via Krugman’s signature storytelling style. The new Third Edition of Paul Krugman and Robin Wells’s Economics is their most accomplished yet—extensively updated to offer new examples and stories, new case studies from the business world, and expert coverage of the ongoing financial crisis.

Table of Contents

CHAPTER 1 First Principles
CHAPTER 2 Economic Models: Trade-offs and Trade
CHAPTER 2 APPENDIX Graphs in Economics
CHAPTER 3 Supply and Demand
CHAPTER 4 Consumer and Producer Surplus
CHAPTER 5 Price Controls and Quotas: Meddling with Markets
CHAPTER 6 Elasticity
CHAPTER 7 Taxes
CHAPTER 8 International Trade
CHAPTER 9 Decision Making by Individuals and Firms
CHAPTER 10 The Rational Consumer
CHAPTER 10 APPENDIX Consumer Preferences and Consumer Choice
CHAPTER 11 Behind the Supply Curve: Inputs and Costs
CHAPTER 12 Perfect Competition and the Supply Curve
CHAPTER 13 Monopoly
CHAPTER 14 Oligopoly
CHAPTER 15 Monopolistic Competition and Product Differentiation
CHAPTER 16 Externalities
CHAPTER 17 Public Goods and Common Resources
CHAPTER 18 The Economics of the Welfare State
CHAPTER 19 Factor Markets and the Distribution ofIncome
CHAPTER 19 APPENDIX Indifference Curve Analysis of Labor Supply
CHAPTER 20 Uncertainty, Risk, and Private Information
CHAPTER 21 Macroeconomics: The Big Picture
CHAPTER 22 GDP and CPI: Tracking the Macroeconomy
CHAPTER 23 Unemployment and Inflation
CHAPTER 24 Long-Run Economic Growth
CHAPTER 25 Savings, Investment Spending, and the Financial System
CHAPTER 25 APPENDIX Toward a Fuller Understanding of Present Value
CHAPTER 26 Income and Expenditure
CHAPTER 26 APPENDIX Deriving the Multiplier Algebraically
CHAPTER 27 Aggregate Demand and Aggregate Supply
CHAPTER 28 Fiscal Policy
CHAPTER 28 APPENDIX Taxes and the Multiplier
CHAPTER 29 Money, Banking, and the Federal Reserve System
CHAPTER 30 Monetary Policy
CHAPTER 30 APPENDIX Reconciling the Two Models of the Interest Rate
CHAPTER 31 Inflation, Disinflation, and Deflation
CHAPTER 32 Crises and Consequences
CHAPTER 33 Macroeconomics: Events and Ideas
CHAPTER 34 Open-Economy Macroeconomics