PAUL KRUGMAN

Teaches Economics & Society

M AS T E R C L AS S
 Meet Your Instructor:
Paul Krugman

Paul Krugman won the 2008 Nobel Memorial Prize in of a Liberal, The Great Unraveling, a bestseller, and
Economic Sciences for his groundbreaking work on The Return of Depression Economics and the Crisis
international trade and economic geography. He is of 2008, an updated edition of his 1999 book, The
the author or editor of 20 books and more than 200 Return of Depression Economics.
papers in professional journals and edited volumes.
Paul is one of the founders of the “new trade theory,” In addition to the Nobel Prize, Paul’s work in econom-
a major rethinking of the theory of international trade, ics has earned him broad acclaim from the economic
for which he also received the John Bates Clark Medal press, several prestigious awards, and worldwide
in 1991 from the American Economic Association, a recognition as a leader in the fields of economic ge-
prize given every two years to “that economist under ography and the role of increasing returns in shaping
forty who is adjudged to have made a significant con- international trade. He is recognized worldwide as a
tribution to economic knowledge.” leader in the fields of economic geography and the
role of increasing returns in shaping international
As one of the world’s best known and most acclaimed trade.
economists, Paul writes on the leading issues of the
day affecting the world economy. An insightful, out- Paul is a Professor of Economics and Distinguished
spoken op-ed columnist for the New York Times, his Scholar at the Graduate Center’s Stone Center at City
twice-weekly op-ed pieces for the New York Times University of New York (CUNY). He previously taught
reflect his depth of insight and unflinchingly outspo- at Princeton University, MIT, and Stanford. He was cho-
ken style. The most recent of Paul’s many books, End sen as one of Bloomberg’s 10 Most Influential Thinkers
This Depression Now!, is a call for action. In it, Paul in 2013 and has been named one of Bloomberg’s 50
has a powerful message for anyone who has suffered Most Influential People in Global Finance four times,
during the Great Recession—a quick, strong recovery in 2011, 2012, 2013, and 2015. He has been honored
is just one step away, if our leaders can find the “in- to be one of Foreign Policy’s Top 100 Global Thinkers
tellectual clarity and political will” to end this depres- for five straight years, plus one. (2005, 2008-2012).
sion now. His previous books include The Conscience
 PA U L K R U G M A N / C H A P T E R 0 1

Introduction

“
It’s never been more important
to educate yourself.
 PAUL
KRUGMAN Introduction CHAPTER
01

Chapter Review Learn More

Economics is an enormous part of our daily lives Thinking like an economist can be strange and
and touches nearly every decision that business difficult at first. This article by Richard Nisbett
and government makes. This course is designed to helps explain why.
help you think like an economist. In today’s world,
self-proclaimed experts issue contradictory opinions
on topics ranging from health care to taxes to
international trade. It’s up to us to sort out what’s
reliable and what’s not. Paul will share the insights
that he’s developed from decades as one the world’s
most prominent economists, as well as his methods
for analyzing complex topics. This MasterClass will
cover many of the issues you see in newspaper
headlines everyday—financial crises, health care,
taxes, international trade, urbanization, and
globalization—and provide tools to help you make
sense of it all.

Fo o ta g e i n th e v i de o l e sson cou r te sy of C NBC ,

MASTERCLASS / 4