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Full Description
Now you can master the principles of economics with the help of the most popular economics textbook trusted by students worldwide -- Mankiw's emphasizes only the material that helps you better understand the world and economy in which you live. You learn to become a more astute participant in today's economy with a strong understanding of both the potential and limits of economic policy. The latest relevant examples bring economic principles to life. Acclaimed author Gregory Mankiw explains, "I tried to put myself in the position of someone seeing economics for the first time. My goal is to emphasize the material that students should and do find interesting about the study of the economy." To help you further master the key principles of economics in this edition, powerful student-focused digital resources are available in the leading MindTap digital learning and homework solution.
Contents
Part I1. 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.10. Externalities.11. Public Goods and Common Resources.12. The Design of the Tax System.13. The Costs of Production.14. Firms in Competitive Markets.15. Monopoly.16. Monopolistic Competition.17. Oligopoly.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.23. Measuring a Nation's Income.24. Measuring the Cost of Living.25. Production and Growth.26. Saving, Investment, and the Financial System.27. Tools of Finance.28. Unemployment and Its Natural Rate.29. The Monetary System.30. Money Growth and Inflation.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.