Microeconomics 3rd Edition by Paul Krugman and Robin Wells

Microeconomics 3rd Edition by Paul Krugman and Robin Wells offers new examples and stories, new case studies from the business world, and expert coverage of the ongoing financial crisis. New opening stories have been introduced in key chapters, Economics in Action features are updated throughout the textbook, and new examples illustrating key concepts have changed with the instructor and student in mind.

Each chapter closes with a new business case study that applies the economics learned in the chapter to a specific business situation, featuring American and international companies throughout the book. The same unique voice that made Paul Krugman a widely read economist is evident on every page of Microeconomics. The product of the partnership of coauthors Krugman and Robin Wells, the book returns in a new edition.

The new edition is informed and informative, solidly grounded in economic fundamentals yet focused on the realities of today’s world and the lives of students. It maintains the signature Krugman/Wells story-driven approach while incorporating organizational changes, new content and features, and new media and supplements.

Consumer chapters now precede producer chapters, as part of a uninterrupted sequence on market structure, from perfect competition to oligopoly and monopolistic competition. Early coverage of taxes (Ch 7) and international trade (Ch 8) puts the focus on policy and globalization. New chapter on the Welfare State (Chapter 19) exposes students to key policy issues.

"Making Decisions" (Chapter 9)—a chapter unique to Krugman/Wells—returns, revised and updated. Chapter Opening Stories, often taken from the headlines, set the stage for the material to follow. The story is then integrated throughout chapters to aid learning and student intuition. Economics in Action Cases (EIAs) drawn from current events and economic history, EIAs appear at the end of each major section, to reinforce the relevance of core principles to real-world situations. Approximately 30% of the EIAs are new with many of those international in focus.

For Inquiring Minds help students applyi concepts to real-world situations in ways that yield some fun and surprising results. Approximately 30% are new. Immediately engaging, visually appealing, and based on real data, these global snapshots quickly convey economic conditions around the world while placing domestic economic conditions in global perspective.

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