Cover: Economics, 7th Edition by Paul Krugman; Robin Wells

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Economics

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Seventh  Edition©2024  Paul Krugman; Robin Wells

ISBN:9781319480684

ISBN:9781319480806

ISBN:9781319543914

About

Krugman/Wells helps you achieve economic understanding

Krugman and Wells explain the principles of  economics in a way that is both accessible and engaging. Drawing on current economic events, there is no one more effective than Nobel laureate and New York Times columnist Paul Krugman and co-author Robin Wells at helping readers understand the context of economics in their own lives. In this best-selling introductory textbook, Krugman and Wells’ signature storytelling style and uncanny eye for revealing examples will help you understand how economic concepts play out in your world.

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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

Part 10: Introduction to Macroeconomics

Chapter 21 Macroeconomics: The Big Picture

Chapter 22 GDP and the CPI: Tracking the Macroeconomy

Chapter 23 Unemployment and Inflation

Part 11: Long-Run Economic Growth

Chapter 24 Long-Run Economic Growth

Chapter 25 Savings, Investment Spending, and the Financial System

Part 12: Short-Run Economic Fluctuations

Chapter 26 Income and Expenditure

Appendix 26: Deriving the Multiplier Algebraically

Chapter 27 Aggregate Demand and Aggregate Supply

Part 13: Stabilization Policy

Chapter 28 Fiscal Policy

Appendix 28: Taxes and the Multiplier

Chapter 29 Money, Banking, and the Federal Reserve System

Chapter 30 Monetary Policy

Appendix 30: Reconciling the Two Models of the Interest Rate

Chapter 31 Inflation, Disinflation, and Deflation

Part 14: Events and Ideas

Chapter 32 Macroeconomics: Events and Ideas

Part 15: The Open Economy

Chapter 33 International Macroeconomics

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.