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 Onley (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. Table of Contents Introduction: The Ordinary Business of Life Chapter 1: First Principles Chapter 2: Economic Models: Trade-offs and Trade Chapter 2 Appendix: Graphs in Economics Chapter 3: Supply and Demand Chapter 4: The Market Strikes Back Chapter 5: Elasticity Chapter 6: Consumer and Producer Surplus Chapter 7: Behind the Supply Curve: Inputs and Costs Chapter 8: Perfect Competition and the Supply Curve Chapter 9: Factor Markets and the Distribution of Income Chapter 10: Efficiency, Inefficiency, and Equity Chapter 11: Monopoly Chapter 12: Oligopoly, Monopolistic Competition, and Product Differentiation Chapter 13: International Trade Chapter 14: Macroeconomics: The Big Picture Chapter 15: Tracking the Macroeconomy Chapter 16: Aggregate Supply and Aggregate Demand Chapter 17: Fiscal Policy Chapter 18: Money, the Federal Reserve System, and Monetary Policy