Macroeconomics in Modules

When it comes to explaining fundamental economic principles by drawing on current economic issues and events, no one is more effective than Nobel laureate and New York Times columnist Paul Krugman and co-author, Robin Wells. In this modular text, Krugman and Wells’ signature storytelling style helps readers understand economic concepts in the real world. Instead of long, traditional chapters of traditional length, this version presents brief modules, each focused on one topic and easy to read in one sitting.

The new edition is available as an Achieve online course that offers the best value and price.

Section 1 Basic Economic Concepts
Module 1 First Principles
Module 2 Models and the Production Possibility Frontier
Module 3 Comparative Advantage and Trade
Module 4 The Circular Flow Diagram
Appendix: Graphs in Economics

Section 2 Demand, Supply, and Equilibrium
Module 5 Demand
Module 6 Supply and Equilibrium
Module 7 Changes in Equilibrium

Section 3 Market Efficiency and Price Controls
Module 8 Consumer and Producer Surplus
Module 9 Efficiency and Markets
Module 10 Price Controls (Ceilings and Floors)

Section 4 International Trade
Module 11 Gains from Trade
Module 12 Supply, Demand, and International Trade

Section 5 Macroeconomic Measurement
Module 13 Introduction to Macroeconomics
Module 14 National Accounts and the Gross Domestic Product
Module 15 Interpreting Real Gross Domestic Product

Section 6 Unemployment and Inflation
Module 16 Defining Unemployment
Module 17 Categories of Unemployment
Module 18 The Costs of Inflation
Module 19 Measuring Inflation

Section 7 Long-Run Economic Growth
Module 20 Sources of Long-Run Economic Growth
Module 21 Productivity and Growth
Module 22 Long-Run Growth Policy

Section 8 Savings, Investment Spending, and the Financial System
Module 23 Savings and Investment Spending
Module 24 The Market for Loanable Funds
Module 25 The Financial System
Module 26 Present Value and Time Value of Money

Section 9 Income and Expenditure
Module 27 The Multiplier
Module 28 Consumer Spending and Investment Spending
Module 29 The Income-Expenditure Model

Section 10 Aggregate Demand Aggregate Supply
Module 30 Aggregate Demand
Module 31 Aggregate Supply
Module 32 The AD-AS Model

Section 11 Fiscal Policy
Module 33 Fiscal Policy Basics
Module 34 Fiscal Policy and the Multiplier
Module 35 Budget Deficits and the Public Debt

Section 12 Money, Banking, and the Federal Reserve System
Module 36 Defining the Measuring Money
Module 37 Banking and Money Creation
Module 38 The Federal Reserve System

Section 13 Monetary Policy
Module 39 The Federal Reserve and Monetary Policy
Module 40 The Money Market
Module 41 Monetary Policy and the Interest Rate
Module 42 Money, Output, and Prices in the Long Run

Section 14 Inflation, Disinflation, and Deflation
Module 43 Causes of High Inflation
Module 44 Output Gaps, Inflation, and the Phillips Curve
Module 46 Deflation

Section 15 International Macroeconomics
Module 46 Capital Flows and the Balance of Payments
Module 47 The Foreign Exchange Market
Module 48 Exchange Rate Policy
Module 49 Exchange Rates and Macroeconomic Policy

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