PART I: WHAT IS ECONOMICS? Intro The Ordinary Business Of Life 1 First Principles 2 Economic Models: Trade-Offs And Trade 2 Appendix Graphs In Economics PART II: SUPPLY AND DEMAND 3 Supply And Demand 4 Price Controls And Quotas: Meddling With Markets 5 International Trade 5 Appendix Consumer And Producer Surplus PART III: INTRODUCTION TO MACROECONOMICS 6 Macroeconomics: The Big Picture 7 Gdp And Cpi: Tracking The Macroeconomy 8 Unemployment And Inflation PART IV: LONG-RUN ECONOMIC GROWTH 9 Long-Run Economic Growth 10 Savings, Investment Spending, And The Financial System Appendix Toward A Fuller Understanding Of Present Value PART V: SHORT-RUN ECONOMIC FLUCTUATIONS 11 Income And Expenditure Appendix Deriving The Multiplier Algebraically 12 Aggregate Demand And Aggregate Supply PART VI: STABILIZATION POLICY 13 Fiscal Policy Appendix Taxes And The Multiplier 14 Money, Banking, And The Federal Reserve System 15 Monetary Policy Appendix Reconciling The Two Models Of The Interest Rate 16 Inflation, Disinflation, And Deflation 17 Crises And Consequences PART VII: EVENTS AND IDEAS 18 Events And Ideas PART VIII: THE OPEN ECONOMY 19 Open-Economy Macroeconomics Macroeconomic Data Tables Solutions To "Check Your Understanding" Questions Glossary Index
Paul Krugman, recipient of the 2008 Nobel Memorial Prize in
Economics, is Professor of Economics at Princeton University, USA,
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 and he is a regular
op-ed columnist for the New York Times.
Robin Wells was a lecturer and researcher in Economics at Princeton
University, USA, 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 (UK), Stanford, and MIT. Her teaching and
research focus on the theory of organizations and incentives.
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