Description Essentials of Economics brings the captivating writing and innovative features of Krugman/Wells to the one-term micro/macro course. It is ideal for teaching basic economic principles in a real-world context. This new edition includes coverage of the current financial crisis and new learning aids.
Table of Contents
PART I: WHAT IS ECONOMICS?
1. First Principles
2. Economic Models: Trade-offs and Trade
PART II: SUPPLY AND DEMAND
3. Supply and Demand
4. The Market Strikes Back
5. Elasticity and Taxation
PART III: THE PRODUCTION DECISION
6. Behind the Supply Curve: Inputs and Costs
7. Perfect Competition and the Supply Curve
PART IV: BEYOND PERFECT COMPETITION
8. Monopoly, Oligopoly, and Monopolistic Competition
9. Externalities and Public Goods
PART V: INTRODUCTION TO MACROECONOMICS
10. Macroeconomics: The Big Picture
11. Tracking the Macroeconomy
12. Unemployment and Inflation
PART VI: ECONOMIC GROWTH AND FLUCTUATIONS
13. Long-Run Economic Growth
14. Aggregate Demand and Aggregate Supply
PART VII: STABILIZATION POLICY
15. Fiscal Policy
16. Money, Banking, and the Federal Reserve System
17. Monetary Policy
PART VIII: THE OPEN ECONOMY
18. International Trade, Capital Flows, Exchange Rates
PAUL KRUGMAN is a Lecturer at Princeton University, USA. ROBIN WELLS is a Lecturer at Princeton University, USA. KATHRYN GRADDY is a Lecturer at Exeter College, University of Oxford, UK.