Cover: Krugman's Macroeconomics for the AP® Course, 3rd Edition by Margaret Ray; David Anderson

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Krugman's Macroeconomics for the AP® Course

Third  Edition©2019  Margaret Ray; David Anderson

About

Krugman’s Economics for the AP® Course, Third Edition was created to help students solve the economics puzzle. Assembled by AP® experts, the texts short modules, organization, language, and emphasis perfectly mirror the AP® Economics course framework. This dedication to the AP® course keeps students on track to realize success on the AP® Economics exam. This text is available in print and digital formats. You may also purchase "Strive for a 5" study/prep guides for even more AP® practice and support. NOTE: This edition contains only macroeconomics content and exam prep.


Table of Contents

Section 1 Basic Economic Concepts
Module 1 The Study of Economics
Module 2 Introduction to Macroeconomics
Module 3 The Production Possibilities Curve Model
Module 4 Comparative Advantage and Trade
AppendixGraphs in Economics
Economics by Example: What

Section 2 Supply and Demand
Module 5 Supply and Demand: Introduction and Demand
Module 6 Supply and Demand: Supply
Module 7 Supply and Demand: Equilibrium
Module 8 Supply and Demand: Price Controls (Ceilings and Floors)
Module 9 Supply and Demand: Quantity Controls
Economics by Example: The Coffee Market

Section 3 Measurement of Economic Performance
Module 10 The Circular Flow and Gross Domestic Product
Module 11 Interpreting Real Gross Domestic Product
Module 12 The Meaning and Calculation of Unemployment
Module 13 The Causes and Categories of Unemployment
Module 14 Inflation: An Overview
Module 15 The Measurement and Calculation of Inflation
Economics by Example: How Can GDP Be UP When We

Section 4 National Income and Price Determination
Module 16 Income and Expenditure
Module 17 Aggregate Demand: Introduction and Determinants
Module 18 Aggregate Supply: Introduction and Determinants
Module 19 Equilibrium in the Aggregate Demand
Module 20 Economic Policy and the Aggregate Demand
Module 21 Fiscal Policy and Multiplier Effects
Economics by Example: How Much Debt is Too Much Debt

Section 5 The Financial Sector
Module 22 Saving, Investment, and the Financial System
Module 23 The Definition and Measurement of Money
Module 24 The Time Value of Money
Module 25 Banking and Money Creation
Module 26 The Federal Reserve System: History and Structure
Module 27 The Federal Reserve System: Monetary Policy
Module 28 The Money Market
Module 29 The Market for Loanable Funds
Economics by Example: How Should We Wield the Tool of Monetary Policy?

Section 6 Inflation, Unemployment, and Stabilization Policies
Module 30Long-Run Implications of Fiscal Policy: Deficits and the Public Debt
Module 31Monetary Policy and the Interest Rate
Module 32Money, Output, and Prices in the Long Run
Module 33Types of Inflation, Disinflation, and Deflation
Module 34Inflation and Unemployment: The Phillips Curve
Module 35History and Alternative Views of Macroeconomics
Module 36Consensus and Conflict in Modern Macroeconomics

Economics by Example: Will Technology Put Everyone Out of Work? Unemployment, Creative Destruction, and Quality of Life

Section 7 Economic Growth and Productivity
Module 37 Long-Run Economic Growth
Module 38 Productivity and Growth
Module 39 Growth Policy: Why Economic Growth Rates Differ
Module 40 Economic Growth in Macroeconomic Models Economics by Example: Why Are Some Countries Rich and Others Poor? Growth Models, Miracles, and the Determinants ofEconomic Development

Section 8 The Open Economy: International Trade and Finance
Module 41 Capital Flows and the Balance of Payments
Module 42 The Foreign Exchange Market
Module 43 Exchange Rate Policy and Macroeconomic Policy
Module 44 Barriers to Trade
Module 45 Putting It All Together
Economics by Example: Is Globalization a Bad Word? Comparative Advantage, Culture Clashes, and International Organizations

AP Practice Exam
Enrichment Modules
Module A:Financial Markets and Crises
Financial Literacy Handbook
Glossary/Glosario

Index

Margaret Ray

Margaret Ray teaches economics at both the university and high school levels. She is an AP® Economics instructor for Johns Hopkins University’s Center for Talented Youth and is a member of the economics department faculty at Texas A&M University in College Station, Texas. She received her BS in economics from Oklahoma State University and her PhD in economics from the University of Tennessee. In 2012, she received her MEd in curriculum and instruction and became certified to teach K–12 social studies. She has taught AP® Economics at several high schools in Virginia and has received the Council on Economic Education’s Excellence in Teaching Economics award. She has been involved in the AP® Economics program since 1992, serving as a reader and question leader, writing test items, overseeing the AP® course audit, writing College Board® “Special Focus” articles, and editing the Council on Economic Education’s AP® Macroeconomics resource. She has been a College Board® Endorsed Consultant for economics since 2001, and she conducts several professional development workshops and institutes each year. Her favorite hobby is showing hunter-jumper horses adopted from bracehorse rescue organizations. She lives on a small farm in central Texas.

David Anderson

David A. Anderson, Ph.D., has been involved in AP® programs and leadership since 1994, including service on the National Advisory Board for AP® Business Principles and as the chief reader for AP® Economics or AP® Microeconomics for five years. An experienced instructor of business principles and entrepreneurship, Anderson is the Paul G. Blazer Professor of Business and Economics at Centre College. He has won awards for excellence and innovation in the classroom. He received his B.A. from the University of Michigan and his MA and PhD from Duke University. He earned a graduate certificate in innovation and entrepreneurship from the Harvard Extension School and an M.B.A. from the University of the People. He also has experience in retail management and banking. Anderson has authored or co-authored dozens of scholarly articles and 18 books, including Economics for the AP® Course, Environmental Economics and Natural Resource Management, and The Light in the Library Basement: A Personal Finance Mystery Story. His research topics include stock markets, wages, unemployment compensation, pedagogy, and the cost of crime. His favorite hobby is long-distance running. He resides with his family in Danville, Kentucky.

David Anderson

David A. Anderson, Ph.D., has been involved in AP® programs and leadership since 1994, including service on the National Advisory Board for AP® Business Principles and as the chief reader for AP® Economics or AP® Microeconomics for five years. An experienced instructor of business principles and entrepreneurship, Anderson is the Paul G. Blazer Professor of Business and Economics at Centre College. He has won awards for excellence and innovation in the classroom. He received his B.A. from the University of Michigan and his MA and PhD from Duke University. He earned a graduate certificate in innovation and entrepreneurship from the Harvard Extension School and an M.B.A. from the University of the People. He also has experience in retail management and banking. Anderson has authored or co-authored dozens of scholarly articles and 18 books, including Economics for the AP® Course, Environmental Economics and Natural Resource Management, and The Light in the Library Basement: A Personal Finance Mystery Story. His research topics include stock markets, wages, unemployment compensation, pedagogy, and the cost of crime. His favorite hobby is long-distance running. He resides with his family in Danville, Kentucky.