Macroeconomics (ISE)

Paul Krugman's grasp of economics in action and his uncanny way of translating complex issues into everyday terms have made him the most widely read economist writing for the general public today. He has been awarded the 2008 prize in Economic Sciences for his study of international trade and the effects of globalisation. What's new? * Chapter order -- re-organised from the 1st edition to reflect how the subject is taught * Stronger international focus -- Global issues are dealt with throughout the text and emphasis is placed on looking at topics from an international perspective * Global Comparison boxes -- uses data driven examples to illustrate the international dimension of economic concepts * New chapters on Taxes, Inflation and Unemployment * Coverage of the financial crisis Strengths: * Real world examples, stories, applications and case studies -- These teach the core concepts and motivate learning * The writing style is accessible, entertaining and friendly * Tools for learning Tools for learning: Each chapter is structured around a common set of features that helps students learn while keeping them engaged * Chapter opening summaries -- Each chapter begins with a real-life story that is then integrated throughout the chapter. They illustrate concepts, build intuition and encourage students to think further * Economics in action -- each chapter closes with a real world case study * Each chapter also has: o What you will learn -- easy to read bulleted list o Quick review -- to cement ideas o Check your understanding -- short in text questions to test the student has understood the concepts o For enquiring minds -- concepts are applied to real world events o Global comparison boxes -- illustrations from around the world o Pitfalls -- Concepts that are often misunderstood or that students often struggle with are dealt with as they come up o Definition of key terms -- terms are defined in the text, then again in the margin o A look ahead -- Provides students with an idea of what to expect o End of chapter review -- a brief but complete summary of the key concepts, key terms and a comprehensive set of end of chapter problems Supplements and Media: A full array of Supplements are available to accompany the text - see tab above. Companion website - www.worthpublishers.com/krugmanwells eBook: 978-1-4292-2657-8

Table of Contents:
PART I: WHAT IS ECONOMICS? First Principles Economic Models: Trade off and Trade Appendix: Graphs in Economics PART II: SUPPLY AND DEMAND Supply and Demand The Market Strikes Back International Trade Appendix: Consumer and Producer Surplus PART III: INTRODUCTION TO MACROECONOMICS Macroeconomics: The Big Picture Tracking the Macroeconomy Unemployment and Inflation PART IV: LONG-RUN ECONOMIC GROWTH Long-run Economic Growth Savings, Investment Spending, and the Financial System PART V: SHORT-RUN ECONOMIC FLUCTUATIONS Income and Expenditure Appendix: Deriving the Multiplier Algebraically ADAS PART VI: STABILIZATION POLICY NEW PART DIVISION Fiscal Policy Appendix: Taxes and the Multiplier Money, Banking, and the Federal Reserve System Monetary Policy Appendix: Reconciling two models of the interest rate NEW Inflation, Disinflation, and Deflation PART VII: EVENTS AND IDEAS Events and Ideas PART VIII: THE OPEN ECONOMY Open-economy Macroeconomics

About the Author :
PAUL KRUGMAN is Professor of Economics at Princeton University, USA, where he regularly teaches the principles course. Prior to his current position he taught at Yale, Stanford and MIT. ROBIN WELLS is Researcher in Economics at Princeton University, USA, where she teaches undergraduate courses. She has previously taught at the University of Michigan, the University of Southampton, Stanford and MIT. Her teaching and research focus on the theory of organizations and incentives. She writes regularly for academic journals.