Economics

Paul Krugman, recipient of the 2008 Nobel Memorial Prize in Economic Sciences, 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 and has authored best-selling trade books, several of which 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 Southampton (United Kingdom), Stanford, and MIT.

Part 1: What Is Economics?.- Introduction An Engine for Growth and Discovery.- Chapter 1 First Principles.- Chapter 2 Economic Models: Trade-offs and Trade.- Appendix: Graphs in Economics.- Part 2: Supply and Demand.- Chapter 3 Supply and Demand.- Chapter 4 Consumer and Producer Surplus.- Chapter 5 Price Controls and Quotas: Meddling with Markets.- Chapter 6 Elasticity.- Part 3: Individuals and Markets.- Chapter 7 Taxes.- Chapter 8 International Trade.- Part 4: Economics and Decision Making.- Chapter 9 Decision Making by Individuals and Firms.- Appendix: Toward a Fuller Understanding of Present Value.- Part 5: The Consumer.- Chapter 10 The Rational Consumer.- Appendix: Consumer Preferences and Consumer Choice.- Part 6: The Production Decision.- Chapter 11 Behind the Supply Curve: Inputs and Costs.- Chapter 12 Perfect Competition and the Supply Curve.- Part 7: Market Structure: Beyond Perfect Competition.- Chapter 13 Monopoly.- Chapter 14 Oligopoly.- Chapter 15 Monopolistic Competition and Product Differentiation.- Part 8: Microeconomics and Public Policy.- Chapter 16 Externalities.- Chapter 17 Public Goods and Common Resources.- Chapter 18 The Economics of the Welfare State.- Part 9: Factor Markets and Risk.- Chapter 19 Factor Markets and the Distribution of Income.- Appendix Indifference Curve Analysis of Labor Supply.- Chapter 20 Uncertainty, Risk, and Private Information.- Part 10: Introduction to Macroeconomics.- Chapter 21 Macroeconomics: The Big Picture.- Chapter 22 GDP and the CPI: Tracking the Macroeconomy.- Chapter 23 Unemployment and Inflation.- Part 11: Long-Run Economic Growth.- Chapter 24 Long-Run Economic Growth.- Chapter 25 Savings, Investment Spending, and the Financial System.- Part 12: Short-Run Economic Fluctuations.- Chapter 26 Income and Expenditure.- Appendix Deriving the Multiplier Algebraically.- Chapter 27 Aggregate Demand and Aggregate Supply.- Part 13 Stabilization Policy.- Chapter 28 Fiscal Policy.- Appendix Taxes and the Multiplier.- Chapter 29 Money, Banking, and the Federal Reserve System.- Chapter 30 Monetary Policy.- Appendix Reconciling the Two Models of the Interest Rate.- Chapter 31 Inflation, Disinflation, and Deflation.- Part 14 Events and Ideas.- Chapter 32 Macroeconomics: Events and Ideas.- Part 15 The Open Economy.- Chapter 33 International Macroeconomics.