Macroeconomics

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 Price Controls and Quotas: Meddling with Markets.- Chapter 5 International Trade.- Appendix: Consumer and Producer surplus.- Part 3: Introduction to Macroeconomics.- Chapter 6 Macroeconomics: The Big Picture.- Chapter 7 GDP and CPI: Tracking the Macroeconomy.- Chapter 8 Unemployment and Inflation.- Part 4: Long-Run Economic Growth.- Chapter 9 Long-Run Economic Growth.- Chapter 10 Savings, Investment Spending, and the Financial System.- Appendix: Toward a Fuller Understanding of Present Value.- Part 5: Short-Run Economic Foundations.- Chapter 11 Income and Expenditure.- Appendix: Deriving the Multiplier Algebraically.- Chapter 12 Aggregate Demand and Aggregate Supply.- Part 6: Stablization Policy.- Chapter 13 Fiscal Policy.- Appendix: Taxes and the Multiplier.- Chapter 14 Money, Banking and the Federal Reserve System.- Chapter 15 Monetary Policy.- Appendix: Reconciling the Two Models of Interest Rate.- Chapter 16 Inflation, Disinflation, and Deflation.- Part 7: Events and Ideas.- Chapter 17 Macroeconomics: Events and Ideas.- Part 8: The International Economy.- Chapter 18 International Macroeconomics.- Macroeconomic Data Tables.- Solutions to Check Your Understanding Questions.- Glossary.- Index.