Economics (High School Version)
Second Edition ©2009New Edition Available
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KRUGMAN SURE TO ENLIVEN THE AP* ECONOMICS CLASSROOM
The 2008 Nobel Prize winner, Paul Krugman, has become the person Americans most often turn to explain what economic policy means to their lives—and how events in their lives reflect important economic concepts. That
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KRUGMAN SURE TO ENLIVEN THE AP* ECONOMICS CLASSROOM
The 2008 Nobel Prize winner, Paul Krugman, has become the person Americans most often turn to explain what economic policy means to their lives—and how events in their lives reflect important economic concepts. That ability extends to the AP* high school course, where Krugman and Wells’ Economics has proven to be an exceptionally effective textbook.
The unique voice that makes Krugman the most widely read economist in the U.S. (and perhaps the world) is evident on every page of Economics. The product of the partnership of coauthors Krugman and Robin Wells, will be available in a new edition for Fall 2009 classes. AP teachers can count on the authors’ ability to explain economics concepts, interpret current events, and develop students’ understanding with classroom-proven pedagogy.
Table of Contents
INTRODUCTION The Ordinary Business of Life
Part 1 What is Economics?
Chapter 1 First Principles
Chapter 2 Economic Models: Trade-offs and Trade
Chapter 2 APPENDIX Graphs in Economics
Part 2 Supply and Demand
Chapter 3 Supply and Demand
Chapter 4 Consumer and Producer Surplus
Chapter 5 The Market Strikes Back
Chapter 6 Elasticity
Part 3 Individuals and Markets
Chapter 7 Taxes
Chapter 8 International Trade
Part 4 Economics and Decision Making
Chapter 9 Making Decisions
Part 5 The Consumer
Chapter 10 The Rational Consumer
Chapter 11 Consumer Preferences and Consumer Choice
Part 6 The Production Decision
Chapter 12 Behind the Supply Curve: Inputs and Costs
Chapter 13 Perfect Competition and the Supply Curve
Part 7 Market Structure: Beyond Perfect Competition
Chapter 14 Monopoly
Chapter 15 Oligopoly
Chapter 16 Monopolistic Competition and Product Differentiation
Part 8 Microeconomics and Public Policy
Chapter 17 Externalities
Chapter 18 Public Goods and Common Resources
Chapter 19 The Economics of the Welfare State
Part 9 Factor Markets and Risk
Chapter 20 Factor Markets and the Distribution of Income
Chapter 20 APPENDIX Indifference Curve
Chapter 21 Uncertainty, Risk, and Private Information
Part 10: Introduction to Macroeconomics
Chapter 22 Macroeconomics: The Big Picture
Chapter 23 Tracking the Macroeconomy
Chapter 24 Unemployment and Inflation
Part 11: Long-Run Economic Growth
Chapter 25 Long-Run Economic Growth
Chapter 26 Savings, Investment Spending, and the Financial System
Part 12: Short-Run Economic Fluctuations
Chapter 27 Income and Expenditure
Chapter 27 Appendix: Deriving the Multiplier Algebraically
Chapter 28 Aggregate Demand and Aggregate Supply
Part 13: Stabilization Policy
Chapter 29 Fiscal Policy
Chapter 29 Appendix: Taxes and the Multiplier
Chapter 30 Money, Banking, and the Federal Reserve System
Chapter 31 Monetary Policy
Chapter 31 Appendix: Reconciling Two Models of the Interest Rate
Chapter 32 Inflation, Disinflation, and Deflation
Part 14 Events and Ideas
Chapter 33 Events and Ideas
Part 15 The Open Economy
Chapter 34 Open-Economy Macroeconomics
Authors
Paul Krugman
Paul Krugman, recipient of the 2008 Nobel Memorial Prize in Economic Sciences, taught at Princeton University for 14 years. In 2015, he joined the faculty 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. He received his BA from 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 trailblazing 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 op-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, where she has taught undergraduate courses. She received her BA from the University of Chicago and her PhD from the University of California, Berkeley; she then did her postdoctoral work at MIT. She has taught at the University of Michigan, the University of Southhampton (United Kingdom), Stanford, and MIT. Her teaching and research focus on the theory of organizations and incentives.
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Paul Krugman on Economics and Economists
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