www.macmillanhighered.com/launchpad/krugmanwellsmicro4

Our new course space, combines an interactive e-Book with high-quality multimedia content and ready-made assessment options, including LearningCurve adaptive quizzing. Pre-built, curated units are easy to assign or adapt with your own material, such as readings, videos, quizzes, discussion groups, and more. LaunchPad also provides access to a gradebook that provides a clear window on performance for your whole class, for individual students, and for individual assignments.

is an adaptive quizzing engine that automatically adjusts questions to the student’s mastery level. With LearningCurve activities, each student follows a unique path to understanding the material. The more questions a student answers correctly, the more difficult the questions become. Each question is written specifically for the text and is linked to the relevant e-Book section. LearningCurve also provides a personal study plan for students as well as complete metrics for instructors. Proven to raise student performance, LearningCurve serves as an ideal formative assessment and learning tool. For detailed information, visit http://learningcurveworks.com.

NEW Work It Out Tutorials New to this edition, these tutorials guide students through the process of applying economic analysis and math skills to solve the final problem in each chapter. Choice-specific feedback and video explanations provide students with interactive assistance for each step of the problem.

Economics in Action Based on the feature from the text, these real-life applications are accompanied by assessment and links to additional data.

Living Graphs Based on figures from the text, Living Graphs are animated and interactive graphs that first demonstrate a concept to students and then ask them to manipulate the graph or answer questions to check understanding.

Interactive Tutorials These interactive modules are designed to teach students key principles and concepts through example problems, animated graphs, and interactive activities.

Graphing Questions As a further question bank for instructors building assignments and tests, the electronically gradable graphing problems utilize our own robust graphing engine. In these problems, students will be asked to draw their response to a question, and the software will automatically grade that response. Graphing questions are tagged to appropriate textbook sections and range in difficulty level and skill.

Test Bank The Test Bank, coordinated by Doris Bennett, Jacksonville State University, provides a wide range of questions appropriate for assessing your students’ comprehension, interpretation, analysis, and synthesis skills. The Test Bank offers multiple-choice, true/false, and short-answer questions designed for comprehensive coverage of the text concepts. Questions are categorized according to difficulty level (easy, moderate, and difficult) and skill descriptor (definitional, concept-based, critical thinking, and analytical thinking) and are tagged to their appropriate textbook section.

End-Of-Chapter Problems The end-of-chapter problems from the text have been converted to a multiple-choice format with answer-specific feedback. These problems can be assigned in homework assignments or quizzes.

Practice and Graded Homework Assignments Each LaunchPad unit contains pre-built assignments, providing instructors with a curated set of multiple-choice and graphing questions that can be easily assigned for practice or graded assessment.

Instructor’s Resource Manual The Instructor’s Resource Manual, revised by Nora Underwood, University of Central Florida, is a resource meant to provide materials and tips to enhance the classroom experience as it provides chapter objectives, chapter outlines, and teaching tips and ideas.

Solutions Manual Prepared by the authors of the text, the Solutions Manual contains detailed solutions to all of the end-of-chapter problems from the textbook. Solutions to business case study Questions for Thought are also provided.

Interactive Presentation Slides This set of Interactive Presentation slides is available as an alternative to traditional lecture outline slides. The slides are brief, interactive, and visually interesting to keep students’ attention in class. They offer instructors the following:

Aplia Worth/Aplia courses are all available with digital textbooks, interactive assignments, and detailed feedback. For a preview of Aplia materials and to learn more, visit www.aplia.com/ worth.

www.saplinglearning.com

Sapling Learning provides the most effective interactive homework and instruction that improves student-learning outcomes for the problem-solving disciplines.

We are indebted to the following reviewers, class testers, focus group participants, and other consultants for their suggestions and advice on previous editions.

Carlos Aguilar, El Paso Community College

Giuliana Campanelli Andreopoulos, William Patterson University

Seemi Ahmad, Dutchess Community College

Terence Alexander, Iowa State University

Morris Altman, University of Saskatchewan

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David Bernotas, University of Georgia

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Robert Francis, Shoreline Community College

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Gary Murphy, Case Western Reserve University

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Anna Musatti, Columbia University

Christopher Mushrush, Illinois State University

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Jeffrey Rubin, Rutgers University, New Brunswick

Rose M. Rubin, University of Memphis

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Djavad Salehi-Isfahani, Virginia Tech

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Steve Shapiro, University of North Florida

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Sarinda Taengnoi, University of Wisconsin, Oshkosh

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Rebecca Achée Thornton, University of Houston

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Brian Trinque, University of Texas, Austin

Boone A. Turchi, University of North Carolina, Chapel Hill

Nora Underwood, University of Central Florida

J. S. Uppal, State University of New York, Albany

John Vahaly, University of Louisville

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Daniel Vazzana, Georgetown College

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Andreas Waldkirch, Colby College

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Thomas White, Assumption College

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Mark Witte, Northwestern University

Kristen M. Wolfe, St. Johns River Community College

Larry Wolfenbarger, Macon State College

Louise B. Wolitz, University of Texas, Austin

Gavin Wright, Stanford University

Bill Yang, Georgia Southern University

Jason Zimmerman, South Dakota State University

Our deep appreciation and heartfelt thanks to the following reviewers, whose input helped us shape this fourth edition.

Innocentus Alhamis, Southern New Hampshire University

Becca Arnold, San Diego Mesa College

Dean Baim, Pepperdine University

Jeremy Baker, Owens Community College

Jim Barbour, Elon University

Richard Beil, Auburn University

Joydeep Bhattacharya, Iowa State University

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Bruce Gervais, California State University-Sacramento

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Julie Gonzalez, University of California-Santa Cruz

Robert Harris, Indiana University and Purdue University, Indianapolis

Hadley Hartman, Santa Fe College

Ryan Herzog, Gonzaga University

Scott Houser, Colorado School of Mines

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Donn Johnson, Quinnipiac University

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Sherrie Kossoudji, University of Michigan

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Liaoliao Li, Kutztown University

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Haiyong Liu, East Carolina University

Fernando Lozano, Claremont McKenna College

Martin Ma, Washington State University

Stephen Marks, Claremont McKenna College

Mark McBride, Miami University

Ashley Miller, Mount Holyoke College

Myra Moore, University of Georgia

Kevin Murphy, Oakland University

Steven Nafziger, Williams College

Kathryn Nantz, Fairfield University

Gerald Nyambane, Davenport University

Fola Odebunmi, Cypress College

Tomi Odegaard, University of Nevada-Reno

Tomi Ovaska, Youngstown State University

Tim Payne, Shoreline College

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David Pieper, City College of San Francisco

Paul Pieper, University of Illinois at Chicago

Arthur Raymond, Muhlenberg College

Greg Rose, Sacramento City College

Matt Rutledge, Boston College

Martin Sabo, Community College of Denver

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Michael Sattinger, University at Albany

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Ralph Sonenshine, American University

Daniel Talley, Dakota State University

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Nora Underwood, University of Central Florida

Lee Van Scyoc, University of Wisconsin, Oshkosh

Mark Witte, Northwestern University

Jadrian Wooten, Pennsylvania State University

A special thanks must go to Ryan Herzog, Gonzaga University, for all of his hard work and many contributions to this edition. Ryan’s role began in the manuscript stage as data researcher, continued into pages with accuracy reviewing, and has now extended to the text’s media, with his expertly prepared Work It Out items. This is the first time we’ve had the opportunity to work with Ryan, and we count ourselves extremely fortunate to have found him (thank you, Charles Linsmeier, for that). Ryan has quickly become an indispensable and tireless advisor to everyone involved in the revision. Many thanks, as well, to Annie Voy, for her consulting work with Ryan on chapters like Externalities. Ryan’s efforts were also supported by accuracy checkers Dixie Dalton, Southside Virginia Community College, and Janet Koscianski, Shippensburg University. Dixie and Janet began their accuracy work on the third edition of our Economics in Modules text. They are both very good at what they do, and we are so happy that they were able to continue their work with us on the fourth edition of this text.

We must also thank the many people at Worth Publishers for their contributions, vice president, editorial, Charles Linsmeier, who ably oversaw the revision and contributed throughout; Craig Bleyer, our original publisher at Worth and now national sales director, who always puts so much effort into making each edition a success; and Sharon Balbos, executive development editor on each of our editions, for her continued dedication and professionalism while working on our chapters.

We have had an incredible production and design team on this book, people whose hard work, creativity, dedication, and patience continue to amaze us. Once again, you have outdone yourselves. Thank you all: Tracey Kuehn, Lisa Kinne, and Jeanine Furino, for producing this book; Vicki Tomaselli for the beautiful interior design and cover; Diana Blume for her assistance with design and art preparation; Deb Heimann, for her thoughtful copyedit; Barbara Seixas, who worked her magic yet again with the project schedule; Cecilia Varas and Elyse Rieder for photo research and the many beautiful, new images you see in this edition; Stacey Alexander and Edgar Bonilla for coordinating all the production of the supplemental materials; Mary Walsh and Bruce Kaplan for their ongoing assistance; and Carlos Marin for preparing the manuscript for production.

Many thanks to Lukia Kliossis and Rachel Comerford for devising and coordinating the impressive collection of online resources for students and instructors that accompany our book. Thanks to the incredible team of writers and coordinators who worked with Lukia; we are forever grateful for your tireless efforts.

Thanks to Tom Digiano, marketing manager, for his enthusiastic and tireless advocacy of this book; to Tom Acox, digital solutions director, who once worked on this text as an editorial assistant and now, from his new perch, offers an array of creative suggestions for our book, its website, and media.

And lastly, to all of you who have introduced our books to your students and colleagues, and who continue to shape our experience as textbook authors, we welcome and encourage your feedback, formal or informal, as we look forward to future revisions.

Please send your comments to

wortheconomics@macmillan.com

Paul Krugman

Paul Krugman

Robin Wells

Robin Wells