Microeconomics

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.

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