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

Third Edition| ©2019 David Anderson; Margaret Ray

AP® Economics courses are hard. Krugman’s Economics for the AP® Course, third edition was created to help you solve the economics puzzle. Assembled by AP® experts and divided into short modules, the organization, language, and emphasis perfectly mirrors College Board’s curriculum framework...

AP® Economics courses are hard. Krugman’s Economics for the AP® Course, third edition was created to help you solve the economics puzzle. Assembled by AP® experts and divided into short modules, the organization, language, and emphasis perfectly mirrors College Board’s curriculum framework. This dedication to the AP® courses keeps teachers and students on track to realize success on the AP® exams.

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

The perfect fit for the AP® Economics course

AP® Economics courses are hard. Krugman’s Economics for the AP® Course, third edition was created to help you solve the economics puzzle. Assembled by AP® experts and divided into short modules, the organization, language, and emphasis perfectly mirrors College Board’s curriculum framework. This dedication to the AP® courses keeps teachers and students on track to realize success on the AP® exams.

Features

NEW TO THE THIRD EDITION:

SaplingPlus is a new digital solution that combines LearningCurve adaptive quizzing with an integrated e-book, robust online homework, and access to all student and teacher resources in one accessible place.

  • The accessible, mobile-ready e-book is built to work on the device of choice. Countless resources and support tools are only a click away. The e-book can also be downloaded for use when internet access is not available.
  • Online homework helps students get better grades with targeted instructional feedback tailored to the individual. Student answers and other metrics, such as attempts taken, time spent on each question, etc. flow to the teacher.
  • LearningCurve Adaptive Quizzing is a popular and effective adaptive quizzing engine offering individualized question sets and feedback tailored to each student based on correct or incorrect responses. Questions are hyperlinked to relevant e-book content, encouraging students to read and use the resources at hand to enrich their understanding.
  • The extensive set of program resources allows easy access to all program resources.

NEW! Adventures in Economics Videos
Co-Author Dave Anderson has created 25 short, entertaining videos that review the most important models and concepts in the AP® Economics courses. Referenced at the relevant point in the textbook, students are encouraged to watch the video and complete the companion worksheet to make sure they fully understand these fundamental concepts.

REVISED! Section Review Videos
These section-ending videos help students bring the key concepts together. Emphasis is given to graphing, key economic models, and vocabulary.

INTEGRATED! Economics by Example  
Previously supplied in a separate textbook, Dave Anderson’s short, engaging stories explaining each section’s key concepts are now included in the text. Each section concludes with an engaging, narrative review of the main ideas. Critical Thinking questions encourage reflection and debate.

Hallmark Features

Expert AP® Author Team
Margaret Ray and David Anderson bring to the text a combined 40 years of experience with AP® Economics students and teachers.  Having graded thousands of AP® exams and worked with hundreds of AP® teachers, they bring a depth of understanding about how to bring economic understanding to high school students and to empower High School teachers.

Alignment to the AP® Topic Outline and Terminology
Because it closely aligns to the AP® exam course content and vocabulary, this book helps students learn the material and terminology necessary to succeed on the AP® exams.

AP® Organization—Flexible Modular Approach
This text is arranged in sections that correspond to the AP® topic outlines, with each section divided into four to seven modules. These short modules make for more manageable reading for students and easier pacing for teachers.

Effective Study Aids

  • Learning Objectives establish measurable goals for each module.
  • Modular Check Your Understand and Tackle the Test questions allow students to practice what they have learned with AP® style questions.
  • Section Review Material include detailed summaries of each module as well as page-referenced key terms and AP® style multiple-choice and free-response questions.

More Support for the AP® Exams

  • AP® Exam Tips in the margins throughout the text offer invaluable on-the-spot advice about key concepts and common pitfalls.
  • More extensive AP® Exam Practice is included in the Third Edition:
    • Each set of module-ending Tackle the Test: Preparing for the AP® Exam questions include 7 Multiple-Choice and two FRQS, the first of which includes a sample rubric.
    • Each section ends with an expanded set of AP® Exam Practice Questions - 25 MC questions and 3 FRQs.
    • Full length AP® Practice Exams at the end of the text, and two more in the Teachers Resource Materials, help students simulate the exams and assess areas of understanding that may need more review.

Strive for a 5 study & prep guides (macro & micro) help students evaluate their understanding of the material covered in the textbook, reinforce key concepts, develop conceptual understanding and graphing skills, and prepare to succeed on the AP® Macroeconomics and Microeconomics Exam.

New to This Edition

"I really love the book, the layout, examples cited, readability level, and
appropriateness for high school students, and the teacher resource manual
is fantastic! It has been a godsend to me, especially being a first-year
teacher of the course!"
— Priscilla Campbell, East Hampton High School (NY)*

"I honestly love the Krugmans Economics for AP® textbook. I am a first
time teacher of AP® Economics and this textbook has given me and my
students an easy to read guide for both AP® Macro and AP® Micro. Compared
to the other textbooks I reviewed, only Krugmans offered the material in a
manner that students would be able to easily grasp and comprehend. Its
said that a picture is worth a thousand words, well that would be equally
true for the graphs in this textbook. My students and I rely on these
graphs to help make sense of the shifts that happen in economics. I love
this textbook and it will continue to be my go to textbook in my AP®
classes!"

— Rebecca Tyndall, St. Martin High School (MS)*

"... My favorite piece of this publication is the question section and your
ability to craft AP®-like questions to offer insights into what students
may face on the test. I offer my sincerest gratitude for crafting such a
textbook that should be the standard for how all texts are to be written."

— Ryan Oto, Lakeville North High School (WI)*

"[Krugman’s AP® textbook] is user friendly - short modules instead of 30
page chapters with great illustrations and really good ancillary materials.
My kids really liked the way the book is organized - they said it made so
much sense and was easy to use."

— Janis Brewer, North County High School (MA) *

"It is awesome.… This new book really focuses on what students need to know
for the exam, and the writing style is so much more engaging than other
books Ive considered. My students actually read this book!"

— Dianna Miller, Florida Virtual School

"...pretty much anything David Anderson touches is worth getting. My
favorite thing about [AP® Krugman] is the module structure."

— David Williams, Amarillo High School (TX)*

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

Krugman's Economics for the AP® Course

Third Edition| ©2019

David Anderson; Margaret Ray

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

Krugman's Economics for the AP® Course

Third Edition| 2019

David Anderson; Margaret Ray

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

Appendix Graphs in Economics

Economics by Example: What’s to Love About Economics?

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 Markets Hot: Why are Bean Prices Not?

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 Were Feeling Down?

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 Aggregate Supply Model

Module 20 Economic Policy and the Aggregate Demand Aggregate Supply Model

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 30 Long-Run Implications of Fiscal Policy: Deficits and the Public Debt

Module 31 Monetary Policy and the Interest Rate

Module 32 Money, Output, and Prices in the Long Run

Module 33 Types of Inflation, Disinflation, and Deflation

Module 34 Inflation and Unemployment: The Phillips Curve

Module 35 History and Alternative Views of Macroeconomics

Module 36 Consensus 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 of Economic 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

Section 9 Behind the Demand Curve: Consumer Choice

Module 46 Income Effects, Substitution Effects, and Elasticity

Module 47 Interpreting Price Elasticity of Demand

Module 48 Other Important Elasticities

Module 49 Consumer and Producer Surplus

Module 50 Efficiency and Deadweight Loss

Module 51 Utility Maximization

Economics by Example: "Why Was the Great Newspaper Heist So Easy?

Section 10 Behind the Supply Curve: Profit, Production, and Costs

Module 52 Defining Profit

Module 53 Profit Maximization

Module 54 The Production Function

Module 55 Firm Costs

Module 56 Long-Run Costs and Economies of Scale

Module 57 Introduction to Market Structure

Economics by Example: "Could the Future Cost of Energy Change Life as We Know It?"

Section 11 Market Structures: Perfect Competition and Monopoly

Module 58 Introduction to Perfect Competition

Module 59 Graphing Perfect Competition

Module 60 Long-Run Outcomes in Perfect Competition

Module 61 Introduction to Monopoly

Module 62 Monopoly and Public Policy

Module 63 Price Discrimination

Economics by Example: "Is Adam Smith Rolling Over in His Grave?"

Section 12 Market Structures: Imperfect Competition

Module 64 Introduction to Oligopoly

Module 65 Game Theory

Module 66 Oligopoly in Practice

Module 67 Introduction to Monopolistic Competition

Module 68 Product Differentiation and Advertising

Economics by Example: "Immigration: How Welcoming Should Lady Liberty Be?"

Section 13 Market Failure and the Role of the Government

Module 74 Introduction to Externalities

Module 75 Externalities in Markets for Goods and Services

Module 76 Public Goods

Module 77 Public Policy to Promote Competition

Module 78 Income Inequality and Income Distribution

Economics by Example: "Why Not Split the Check?"

Section 14 Market Failure and the Role of Government

Module 74 Introduction to Externalities

Module 75 Externalities and Public Policy

Module 76 Public Goods

Module 77 Public Policy to Promote Competition

Module 78 Income Inequality and Income Distribution

Economics by Example: "Why Not Split the Check?"

AP Practice Exams

Enrichment Modules

Module A: Financial Markets and Crises

Module B: Behavioral Economics

Module C: The Economics of Information

Module D: Indifference Curves and Consumer Choice

Financial Literacy Handbook

Glossary/Glosario

Index

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

Krugman's Economics for the AP® Course

Third Edition| 2019

David Anderson; Margaret Ray

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Authors

Headshot of Margaret Ray

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.


Headshot of David A. Anderson

David A. Anderson

David Anderson is the Paul G. Blazer Professor of Economics at Centre College. He received his BA in economics from the University of Michigan and his MA and PhD in economics from Duke University. Anderson has been involved in the AP® Economics programs for more than two decades. For five years he led the grading of one or both of the AP® Economics exams, and he speaks regularly at AP® conferences and workshops. He has authored dozens of scholarly articles and 15 books, including Explorations in Economics, Survey of Economics, Cracking the AP® Economics Exam, Economics by Example, Favorite Ways to Learn Economics, and Environmental Economics and Natural Resource Management . His research is primarily on economic education, environmental economics, law and economics, and labor economics. Anderson loves teaching introductory economics and has won awards for excellence and innovation in the classroom. His favorite hobby is running, and he competes in marathons and triathlons. He lives in Danville, Kentucky, with his wife and two children.

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

Krugman's Economics for the AP® Course

Third Edition| 2019

David Anderson; Margaret Ray

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Adventures in Economics: Section 2


ExamView Assessment Suite for Krugman's Economics for the AP® Course

David Anderson; Margaret Ray | Third Edition | ©2019 | ISBN:9781319114381

he Test Bank, written by Eric Dodge, is available exclusively within the ExamView® Assessment Suite software. With more than 5,000 5-distracter mul...

he Test Bank, written by Eric Dodge, is available exclusively within the ExamView® Assessment Suite software. With more than 5,000 5-distracter multiple-choice and AP®-style free-response questions, teachers will never be at a loss for the great assessment options. The questions have been checked for correlation with the text and the AP® topic outline, as well as for overall usability and accuracy. You may select from the provided questions or use the step-by-step tutorial to write your own. Questions can be sorted according to various metadata fields and scrambled to create different versions of tests. Tests may be printed or administered online using the ExamView® Player.

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Section 2 Teacher's Resource Materials


Teacher's Edition for Krugman's Economics for the AP® Course

David Anderson; Margaret Ray | Third Edition | ©2019 | ISBN:9781319114251

Significantly revised for the third edition, Margaret Ray brings her own teaching experience to the Teacher’s Edition. Working as a College Board c...

Significantly revised for the third edition, Margaret Ray brings her own teaching experience to the Teacher’s Edition. Working as a College Board consultant and workshop leader has given Margaret unique insight into the challenges faced by new and experienced AP® Economics teachers. She brings her knowledge, insights, and experience to the section introductions and wrap-around commentary pages. It’s almost like teachers are attending one of her workshops!  Additional point-of-use tools include:

  • A helpful primer on teaching AP® Economics
  • Suggested pacing guides
  • Embedded references/links to the extensive Teacher’s Resources Materials
  • Teach It tips
  • Graph IT insights
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Teacher's Resource Flash Drive for Krugman's Economics for the AP® Course

David Anderson; Margaret Ray | Third Edition | ©2019 | ISBN:9781319114190
This flash drive for both Macro and Microeconomics includes all of the resources referenced in the Teacher’s Edition in one convenient place. The flas...
This flash drive for both Macro and Microeconomics includes all of the resources referenced in the Teacher’s Edition in one convenient place. The flash drive also includes new student videos from author Dave Anderson that teach important concepts in a fun and engaging way. New teacher-facing videos also offer just-in-time tips for how to teach economics most challenging concepts.
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Look Inside Look Inside Cover: Krugman's Economics for the AP® Course, 3rd Edition by David Anderson; Margaret Ray

Krugman's Economics for the AP® Course

Third Edition| 2019

David Anderson; Margaret Ray

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