Provide an approachable, superbly written introduction to economics that allows all types of students to quickly grasp economic concepts and build a strong foundation with Mankiw’s popular PRINCIPLES OF ECONOMICS, 8E. The most widely-used text in economics classrooms worldwide, this book covers only the most important principles to avoid overwhelming students with excessive detail. Extensive updates feature relevant examples to engage students. MindTap and Aplia digital course solutions are available to improve student engagement and retention with powerful student-focused resources. Within MindTap, students can use the highly acclaimed Graph Builder and Adaptive Test Prep features. All content has been carefully crafted around understanding student needs at key moments in your course. A team of award-winning teaching economists have added more relevance, engagement, and interactivity to teaching resources in this book’s ancillary package, already the most commanding in the industry.
New to this Edition
MINDTAP AND APLIA: Mankiw will continue to offer both MindTap and Aplia as standalone course solutions. Aplia offers the most successful and widely used homework solution in the economics market. With more than one billion answers entered, Aplia provides an unmatched homework resource for your students. Online interactive problem sets, analyses, tutorials, experiments, and critical-thinking exercises give students hands-on application without adding to your workload.
THIS EDITION’S ENHANCED INTERACTIVE BOOK STRENGTHENS THE LEARNING EXPERIENCE. The interactive book does much more than move words from the printed book to a digital device. It enhances your students' learning experience by allowing them to search, highlight text, take notes and interact directly with complex figures. The book also supports media from both Cengage Learning, the book’s publisher, or third-party media providers, such as YouTube. Additionally, it is now more accessible to visually-impaired students with new alternative text that is added to all images and tables for every chapter.
CONCEPTCLIPS HELP STUDENTS MASTER ECONOMICS TERMS. These high energy videos, embedded throughout the interactive book in MindTap® and Aplia, address the known student challenge of understanding economics terminology when initially introduced to the subject matter. Developed by Professor Mike Brandl of The Ohio State University, these concept based animations provide students with memorable context to the key terminology required for your introductory economics course.
PREMIUM POWERPOINT® PRESENTATIONS EASE YOUR COURSE PREPARATION WHILE INCREASING STUDENT INVOLVEMENT. Chapter-by-chapter slides organize lecture points into sections that students can easily digest. The PowerPoint slides animate graphs the way you might draw them and include Student Note Prompt handouts to facilitate effective note-taking without distracting students from active participation in class.
Table of Contents Part I: INTRODUCTION.
1. Ten Principles of Economics.
2. Thinking Like an Economist.
3. Interdependence and the Gains from Trade.
Part II: HOW MARKETS WORK.
4. The Market Forces of Supply and Demand.
5. Elasticity and Its Application.
6. Supply, Demand, and Government Policies.
Part III: MARKETS AND WELFARE.
7. Consumers, Producers, and the Efficiency of Markets.
8. Applications: The Costs of Taxation.
9. Application: International Trade.
Part IV: THE ECONOMICS OF THE PUBLIC SECTOR.
11. Public Goods and Common Resources.
12. The Design of the Tax System.
Part V: FIRM BEHAVIOR AND THE ORGANIZATION OF INDUSTRY.
13. The Costs of Production.
14. Firms in Competitive Markets.
16. Monopolistic Competition.
Part VI: THE ECONOMICS OF THE LABOR MARKET.
18. The Markets for the Factors of Production.
19. Earnings and Discrimination.
20. Income Inequality and Poverty.
Part VII: TOPICS FOR FURTHER STUDY.
21. The Theory of Consumer Choice.
22. Frontiers in Microeconomics.
Part VIII: THE DATA OF MACROECONOMICS.
23. Measuring a Nation’s Income.
24. Measuring the Cost of Living.
Part IX: THE REAL ECONOMY IN THE LONG RUN.
25. Production and Growth.
26. Saving, Investment, and the Financial System.
27. Tools of Finance.
28. Unemployment and Its Natural Rate.
Part X: MONEY AND PRICES IN THE LONG RUN.
29. The Monetary System.
30. Money Growth and Inflation.
Part XI: THE MACROECONOMICS OF OPEN ECONOMICS.
31. Open-Economy Macroeconomics: Basic Concepts.
32. A Macroeconomic Theory of the Open Economy.
Part XII: SHORT-RUN ECONOMIC FLUCTUATIONS.
33. Aggregate Demand and Aggregate Supply.
34. The Influence of Monetary and Fiscal Policy on Aggregate Demand.
35. The Short-Run Tradeoff between Inflation and Unemployment.
Part XIII: FINAL THOUGHTS.
36. Six Debates over Macroeconomic Policy.
N. Gregory Mankiw is Robert M. Beren Professor of Economics at Harvard University. He studied economics at Princeton University and MIT. Dr. Mankiw is a prolific writer and a regular participant in academic and policy debates. His research includes work on price adjustment, consumer behavior, financial markets, monetary and fiscal policy, and economic growth. His published articles have appeared in academic journals, such as the American Economic Review, Journal of Political Economy, and Quarterly Journal of Economics, and in more widely accessible forums, including The New York Times, The Washington Post, The Wall Street Journal, and Fortune. Dr. Mankiw has been a research associate of the National Bureau of Economic Research, an adviser to the Federal Reserve Bank of Boston and the Congressional Budget Office, and a member of the ETS test development committee for the advanced placement exam in economics. From 2003 to 2005, he served as chairman of the President’s Council of Economic Advisers.