Cover: Macroeconomics: Canadian Edition, 4th Edition by Paul Krugman; Robin Wells; Iris Au; Jack Parkinson

Macroeconomics: Canadian Edition

Fourth Edition  ©2021 Paul Krugman; Robin Wells; Iris Au; Jack Parkinson Formats: Achieve, E-book, Print

Authors

  • Headshot of Paul Krugman

    Paul Krugman

    Paul Krugman, recipient of the 2008 Nobel Memorial Prize in Economic Sciences, is a faculty member 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. Prior to that, he taught at Princeton University for 14 years. He received his Barroom 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 pathbreaking 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-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.

  • Headshot of Robin Wells

    Robin Wells

    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.  Her teaching and research focus on the theory of organizations and incentives.

  • Headshot of Iris Au

    Iris Au

    Iris Au is a Professor, Teaching Stream in Economics at the University of Toronto Scarborough (UTSC). She received her BA, MA, and PhD from Simon Fraser University. She taught at Simon Fraser University and Kwantlen University College (now known as Kwantlen Polytechnic University) before joining UTSC. Currently, she teaches introductory and intermediate macroeconomics, international finance, economics of public policy, and topics on financial crises on a regular basis.

  • Headshot of Jack Parkinson

    Jack Parkinson

    Jack Parkinson is an Associate Professor, Teaching Stream in Economics at the University of Toronto Scarborough (UTSC). He received his Hons. BA from Western University and his MA and PhD from the University of Toronto. He has worked as a corporate tax policy analyst for the Ontario Ministry of Finance while teaching during his lunchtime or evenings. Over the past 30 years he has taught on all three campuses of the University of Toronto. Currently, he teaches introductory microeconomics and macroeconomics, intermediate microeconomics and macroeconomics, money and banking, economics of organization, and industrial organization.

Table of Contents

Part 1: What Is Economics?
Introduction An Engine for Growth and Discovery
Chapter 1 First Principles
Chapter 2 Economic Models: Trade-offs and Trade
Appendix: Graphs in Economics

Part 2: Supply and Demand
Chapter 3 Supply and Demand
Appendix A: The Algebra of Supply, Demand, and Equilibrium
Appendix B: Consumer and Producer Surplus
Chapter 4 Price Controls and Quotas: Meddling with Markets
Chapter 5 International Trade

Part 3: Introduction to Macroeconomics
Chapter 6 Macroeconomics: The Big Picture
Chapter 7 GDP and the CPI: Tracking the Macroeconomy
Chapter 8 Unemployment and Inflation

Part 4: Long-Run Economic Growth
Chapter 9 Long-Run Economic Growth
Chapter 10 Savings, Investment Spending, and the Financial System

Part 5: Short-Run Economic Fluctuations
Chapter 11 Income and Expenditure
Appendix Deriving the Multiplier Algebraically
Chapter 12 Aggregate Demand and Aggregate Supply

Part 6 Stabilization Policy
Chapter 13 Fiscal Policy
Appendix Taxes and the Multiplier
Chapter 14 Money, Banking, and the Central Banking System
Chapter 15 Monetary Policy
Appendix Reconciling the Two Models of the Interest Rate
Chapter 16 Inflation, Disinflation, and Deflation

Part 7  Events and Ideas
Chapter 17 Macroeconomics: Events and Ideas

Part 8 The Open Economy
Chapter 18 International Macroeconomics

Product Updates

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Current events framed by the world’s best communicators of economics. No other text stays as fresh as Krugman and Wells, from powerful technology firms such as Amazon and Google to the global economic impacts of the COVID-19 pandemic. For this edition, weve added cutting edge New Analysis features online in Achieve including Bloomberg videos and Econofact memos. These activities pair journalistic takes on pressing issues with questions based on Blooms taxonomy.

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 global world. Starting in Chapter 1, there is a new principle on how increases in the economys potential lead to economic growth over time. To reflect our rapidly changing world, there is an expanded section on market power and the digital economy and an incisive new look at externalities.

Thoroughly updated throughout. The sixth 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 XX new chapter-opening stories, XX new business cases, and XX new Economics in Action Applications.

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