This bestselling introductory textbook (now in a new edition) from Nobel laureate, New York Times columnist and Principles lecturer Paul Krugman, helps introduce the fundamental principles of economics to all kinds of students.

PART 1 What Is Economics? Intro The Ordinary Business of Life 1 First Principles 2 Economic Models: Trade-offs and Trade 25 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 & Markets 7 Taxes 8 International Trade PART 4 Economics and Decision Making 9 Decision Making by Individuals & Firms Appendix Toward a Fuller Understanding of Present Value 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 & Common Resources 18 The Economics of the Welfare PART 9 Factor Markets & Risk 19 Factor Markets and the Distribution of Income Appendix Indifference Curve Analysis of Labor Supply 20 Uncertainty, Risk, and Private Information PART 10 Introduction to Macroeconomics 21 Macroeconomics: The Big Picture 22 GDP and CPI: Tracking the Macroeconomy 23 Unemployment and Inflation PART 11 Long-Run Economic Growth 24 Long-Run Economic Growth 25 Savings, Investment Spending, and the Financial System PART 12 Short-Run Economic Fluctuations 26 Income and Expenditure Appendix Deriving the Multiplier Algebraically 27 Aggregate Demand and Aggregate Supply PART 13 Stabilization Policy 28 Fiscal Policy Appendix Taxes and the Multiplier 29 Money, Banking, and the Federal Reserve System 30 Monetary Policy Appendix Reconciling the Two Models of the Interest Rate 31 Inflation, Disinflation, and Deflation 32 Crises and Consequences PART 14 Events and Ideas 33 Events and Ideas PART 15 The Open Economy 34 Open-Economy Macroeconomics Macroeconomic Data Tables M-1 Solutions to 'Check Your Understanding' Questions Glossary Index