Economics (AP Version)

Krugman/Wells takes a story-driven approach that focuses on real-world economics at work. The book offers the hallmark clarity and engaging writing style that distinguish Paul Krugman?s work, from his best-selling international economics text to his New York Times best-sellers.

Preface
PART 1 WHAT IS ECONOMICS?
Introduction The Ordinary Business of Life
1. First Principles
2. Economic Models: Trade-offs and Trade
Appendix Graphs in Economics

PART 2 SUPPLY AND DEMAND3. Supply and Demand 
4. The Market Strikes Back
5. Elasticity

PART 3 INDIVIDUALS AND MARKETS
6. Consumer and Producer Surplus
7. Making Decisions

PART 4 THE PRODUCER
8. Behind the Supply Curve: Inputs and Costs
9. Perfect Competition and the Supply Curve

PART 5 THE CONSUMER
10. The Rational Consumer
11. Consumer Preferences and Consumer Choice

PART 6 MARKETS AND EFFICIENCY
12. Factor Markets and the Distribution of Income
Appendix: Indifference Curve Analysis of Labor Supply 
13. Efficiency and Equity

PART 7 MARKET STRUCTURE: BEYOND PERFECT COMPETITION
14. Monopoly
15. Oligopoly
16. Monopolistic Competition and Product Differentiation

PART 8 EXTENDING MARKET BOUNDARIES
17. International Trade
18. Uncertainty, Risk, and Private Information

PART 9 MICROECONOMICS AND PUBLIC POLICY19. Externalities
20. Public Goods and Common Resources
21. Taxes, Social Insurance, and Income Distribution

PART 10 NEW DIRECTIONS FOR MARKETS
22. Technology, Information Goods, and Network Externalities

PART 11 INTRODUCTION TO MACROECONOMICS
23. Macroeconomics: The Big Picture
24. Tracking the Macroeconomy

PART 12 THE ECONOMY IN THE LONG RUN
25. Long-Run Economic Growth
26. Savings, Investment Spending, and the Financial System

PART 13 SHORT-RUN ECONOMIC FLUCTUATIONS
27. Aggregate Supply and Aggregate Demand
28. Income and Expenditure
Appendix Deriving the Multiplier Algebraically
29. Fiscal Policy
Appendix Taxes and the Multiplier
30. Money, Banking, and the Federal Reserve System
31. Monetary Policy

PART 14 THE SUPPLY SIDE AND THE MEDIUM RUN
32. Labor Markets, Unemployment, and Inflation
33. Inflation, Disinflation, and Deflation

PART 15 EVENTS AND IDEAS
34. The Making of Modern Macroeconomics

PART 16 THE OPEN ECONOMY
35. Open-Economy Macroeconomics
Supplemental : Currencies and CrisesAvailable on the Web, at www.worthpublishers.com/krugmanwells, and in booklet form.
Solutions to "Check Your Understanding" Questions
Macroeconomic Data 1929-2004
Glossary