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This is the second edition of “Economics” by Paul Krugman and Robin Wells.  There is always room for improvement, so the second edition is published by evaluating and revising every single chapter carefully. Hope this edition will be more successful for readers.

Economics – Second Edition book is divided into fifteen parts with thirty-four chapters. The first part is, what is economics? which discuss economics and its principles, and economic model. The second part discusses the supply and demand, where supply and demand, consumer and producer surplus, market strikes back, and elasticity are explained. Individuals and markets are included in the third part of this book which discusses taxes and international trade. The fourth part covers economic and decision making, where decision making is explained. The fifth part includes the consumer, where rational consumer, and consumer preference and consumer choice are explained.

The sixth part production decision, where behind the supply curve, and perfect competition and supply curve are explained. The seventh part covers market structure, where monopoly, oligopoly, and monopolistic competition and product differentiation are discussed. The eighth part includes microeconomics and public policy, where externalities, public goods and common resources and the economics of the welfare state are discussed. The ninth part includes factor markets and risk, where factor markets and distribution of income, indifference curve analysis of labor supply, and uncertainty, risk and private information are explained. The tenth part includes an introduction to macroeconomics, where macroeconomics, tracking the macroeconomy, and unemployment and inflation are discussed.

The eleventh part covers the long-run economic growth, where the long-run economic growth and saving, investment spending and the financial system are discussed. The twelfth part is short-run economic fluctuations, where income and expenditure, deriving the multiplier algebraically, and aggregate demand and aggregate supply are explained. The thirteenth part covers stabilization policy, where fiscal policy, money banking and their federal reserve system monetary policy, and inflation, disinflation and deflation are discussed. The fourteenth part includes events and ideas, where macroeconomics events and ideas are discussed. The fifteenth part includes the open economy, where open-economy macroeconomics are explained.