Essentials of Economics [Paperback]

Paul Krugman (Author), Robin Wells (Author), Martha Olney (Author)

Book Description

ISBN-10: 0716758792 | ISBN-13: 978-0716758792 | Publication Date: December 27, 2007

Essentials of Economics brings the same captivating writing and innovative features of Krugman/Wells to the one-term combined micro/macro course. Adapted by Martha Olney (coauthor of the Krugman/Wells study guide and overall coordinator of its media/supplements package), it is the ideal text for teaching basic economic principles in a real-world context to students who are not planning to continue up the economics curriculum.

Editorial Reviews

About the Author

PAUL KRUGMAN Princeton University, USA. ROBIN WELLS Princeton University, USA. MARTHA OLNEY University of California, Berkeley, USA.

Product Details

• Paperback: 471 pages
• Publisher: Worth Publishers (December 27, 2007)
• Language: English
• ISBN-10: 0716758792
• ISBN-13: 978-0716758792
• Product Dimensions: 10.7 x 8.4 x 0.7 inches
• Shipping Weight: 2 pounds (View shipping rates and policies)
• Average Customer Review: 4.3 out of 5 stars  See all reviews (3 customer reviews)
• Amazon Best Sellers Rank: #293,732 in Books (See Top 100 in Books)

More About the Author

Paul Krugman is the recipient of the 2008 Nobel Prize in Economics. He writes a twice-weekly op-ed column for the New York Times and a blog named for his 2007 book "The Conscience of a Liberal." He teaches economics at Princeton University. His books include "The Accidental Theorist," "The Conscience of a Liberal," "Fuzzy Math," "The Great Unraveling," "Peddling Prosperity," and two editions of "The Return of Depression Economics," both national bestsellers.

Customer Reviews

Most Helpful Customer Reviews

45 of 45 people found the following review helpful:

5.0 out of 5 stars Lucid up-to-date introduction, May 22, 2010

By 

Rudolph V. Dusek "Val Dusek" (Scarborough ME USA) - See all my reviews
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This review is from: Essentials of Economics (Paperback)

Krugman, who is popularly known for his recent New York Times op-eds castigating both Bush and Obama, which are collected in several books of his,The Return of Depression Economics and the Crisis of 2008, Peddling Prosperity: Economic Sense and Nonsense in an Age of Diminished Expectations, The Conscience of a Liberal is a Nobel Prize-winning economist, noted for his work in international trade. His colleagues claim that his structural intuitions and proofs are beautiful.
Krugman says that he worked harder on this book than any other book that he wrote, making last-minute corrections and additions during his trip to receive the Nobel Prize. He made an effort to make every definition and explanation as lucid as possible.
A valuable feature of this book is that he and his partner/ co-author decided to include a section on the business cycle, while most other books available (prior to the recent credit crunch) eliminated discussion of the business cycle, thinking it to be eliminated by clever government fine-tuning of the economy. Once the book appeared, in the midst of the credit-collapse, this section became extremely relevant.
This is the most lucid and up-to-date introductory economics text presently available.

3 of 3 people found the following review helpful:

5.0 out of 5 stars Interesting Material Presented in a Compelling Way, September 23, 2011

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P. Palm "Book Buff" (Florida USA) - See all my reviews

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This review is from: Essentials of Economics (Paperback)

I used this book for a graduate level economics basics class. This author really knows what he is doing. This book is loaded with information and presented in a compelling and understandable way. I love this book.

3 of 70 people found the following review helpful:

3.0 out of 5 stars Smart does not make you right., July 12, 2011

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Aim for the Bullseye - See all my reviews

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This review is from: Essentials of Economics (Paperback)

This is a beautiful production, well written. I got it to compare with Free Market economics (mises.org).

I have just started on it and the first example of a "market failure" is road congestion. Too many people trying to go the same way at the same time. Since the roads ways are mapped out by government bureaucrats, paid for with tax dollars and managed by a local government agency, I can not see where the market is involved at all. This appears to me to be a failure to properly price the cost of using the road. Roads are made a common area by government, free to be used at no additional charge. So everyone rushes to use it at the favorite time. Free Market operators of a road would charge more for its use at peak times. People who value the access more highly would get to use it. People who value it less would find another way or reschedule so that they go at off peak times when the toll is less.

This is typical of the author and others with his love of government and scorn for freedom. That is, he blames freedom for the problems caused by government intervention and, on the other hand, gives credit to government for the blessings of Liberty. Balance this text by reading "Man, Economy and State" by Murray Rothbard.