Overview

When it comes to explaining fundamental economic principles by drawing on current economic issues and events, there is no one more effective than Nobel laureate and New York Times columnist Paul Krugman and co-author, Robin Wells. In this best-selling introductory textbook, Krugman and Wells’ signature storytelling style and uncanny eye for revealing examples help readers understand how economic concepts play out in our world. This new edition is revised and enhanced throughout, including: Current events framed by the world’s best communicators of economics. No other text stays as fresh as Krugman and Wells. The authors—who have explained economics to millions through trade books and newspaper columns—offer a new online feature, News Analysis, that pairs journalistic takes on pressing issues with questions based on Bloom’s taxonomy. Thi s complements the text’s unparalleled coverage of current topics: sustainability, the economic impact of technology, pressing policy debates, and much more. A richer commitment to broadening students’ understanding of the global economy. With unparalleled insight and clarity, the authors use their hallmark narrative approach to take students outside of the classroom and into our gl obal world. Starting with a new opening story on the economic transformation in China’s Pearl River Delta, the global focus is carried throughout with more on the ascendance of China’s economy, the Euro and events in Europe (including Brexit), and post-recession economies around the globe. Thoroughly updated throughout. The fifth edition has been updated to reflect our always changing world. Along with updated graphs and changes in every chapter in the text, the new edition features 12 new chapter-opening stories, 18 new business cases, and 35 new Economics in Action Applications.​

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9781319066604

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Paul Krugman, recipient of the 2008 Nobel Memorial Prize in Economic Sciences, taught at Princeton University for 14 years. In 2015, he joined the faculty of the Graduate Center of the City University of New York, associated with the Luxembourg Income Study, which tracks and analyzes income inequality around the world. He 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. His best-selling trade books include End This Depression Now!, The Return of Depression Economics and the Crisis of 2008, a history of recent economic troubles and their implications for economic policy, and The Conscience of a Liberal, a study of the political economy of economic inequality and its relationship with political polarization from the Gilded Age to the present. His earlier books, Peddling Prosperity and The Age of Diminished Expectations, 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 Southhampton (United Kingdom), Stanford, and MIT.​​

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