Essentials of Economics brings the captivating writing and innovative features of Krugman/Wells to the one-term micro/macro module. It is ideal for teaching basic economic principles in a real-world context.

PART I: WHAT IS ECONOMICS? 1. First Principles 2. Economic Models: Trade-offs and Trade Appendix Graphs in Economics PART II: SUPPLY AND DEMAND 3. Supply and Demand 4. Price Controls and Quotas: Meddling with Markets 5. Elasticity and Taxation PART III: THE PRODUCTION DECISION 6. Behind the Supply Curve: Inputs and Costs 7. Perfect Competition and the Supply Curve PART IV: BEYOND PERFECT COMPETITION 8. Monopoly, Oligopoly, and Monopolistic Competition 9. Externalities and Public Goods PART V: INTRODUCTION TO MACROECONOMICS 10. Macroeconomics: The Big Picture 11. GDP and CPI: Tracking the Macroeconomy 12. Unemployment and Inflation PART VI: ECONOMIC GROWTH AND FLUCTUATIONS 13. Long-Run Economic Growth 14. Aggregate Demand and Aggregate Supply PART VII: STABILIZATION POLICY 15. Fiscal Policy 16. Money, Banking, and the Federal Reserve System 17. Monetary Policy 18. Crises and Consequences PART VIII: THE INTERNATIONAL ECONOMY 19. International Trade, Capital Flows, and Exchange Rates Macroeconomic Data Tables Solutions to 'Check Your Understanding' Questions