Microeconomics / Edition 1

Microeconomics / Edition 1

by Paul Krugman, Robin Wells
     
 

When it comes to explaining current economic conditions, there is no economist readers trust more than New York Times columnist and Nobel laureate Paul Krugman.  Term after term, Krugman is earning that same level of trust in the classroom, with more and more instructors introducing students to the fundamental principles of economics via Krugman’s

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Overview

When it comes to explaining current economic conditions, there is no economist readers trust more than New York Times columnist and Nobel laureate Paul Krugman.  Term after term, Krugman is earning that same level of trust in the classroom, with more and more instructors introducing students to the fundamental principles of economics via Krugman’s signature storytelling style. The new Third Edition of Paul Krugman and Robin Wells’s Economics is their most accomplished yet—extensively updated to offer new examples and stories, new case studies from the business world, and expert coverage of the ongoing financial crisis.
 
Watch a video interview of Paul Krugman here.

Product Details

ISBN-13:
9780716752295
Publisher:
Worth Publishers
Publication date:
10/28/2004
Edition description:
First Edition
Pages:
608
Product dimensions:
8.83(w) x 10.45(h) x 0.76(d)

Meet the Author

Paul Krugman, recipient of the 2008 Nobel Memorial Prize in Economics, is Professor of Economics at Princeton University, where he regularly teaches the principles course.  He received his BA from Yale and his PhD from MIT.  Prior to his current position, he taught at Yale, Stanford, and MIT.  He also spent a year on staff of the Council of Economics Advisors in 1982-1983.  His research is mainly in the area of international trade, where he is one of the founders of the “new trade theory,” which focuses on increasing returns and imperfect competition.  He also works in international finance, with a concentration in 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.  Krugman is a regular op-ed columnist for the New York Times.  His latest trade book, The Conscience of a Liberal, is a best-selling 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 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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Table of Contents

PART 1 What is Economics?

Intro: The Ordinary Business of Life
1 First Principles
2 Economic Models: Trade-offs and Trade
Appendix: Graphs in Economics
 
PART 2 Supply and Demand
3 Supply and Demand
4 Consumer and Producer Surplus 
5 Price Controls and Quotas: Meddling with Markets
6 Elasticity
 
PART 3 Individuals and Markets
7 Taxes
8 International Trade
 
PART 4 Economics and Decision Making
9  Making Decisions
 
PART 5 The Consumer
10  The Rational Consumer
Appendix: Consumer Preferences and Consumer Choice
 
PART 6 The Production Decision
11  Behind the Supply Curve: Inputs and Costs
12  Perfect Competition and the Supply Curve
 
PART 7 Market Structure: Beyond Perfect Competition
13  Monopoly     
14  Oligopoly
15  Monopolistic Competition and Product Differentiation
 
PART 8 Microeconomics and Public Policy
16 Externalities
17  Public Goods and Common Resources
18 The Economics of the Welfare State
 
PART 9 Factor Markets and Risk
19  Factor Markets and the Distribution of Income
Appendix: Indifference Curve Analysis of Labor Supply
20 Uncertainty, Risk, and Private Information

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