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Full Description
This best-selling introductory economics text explains the essential principles of economics in a straightforward and engaging style. This fully updated new edition covers key developments including sustainability economics, tariffs, globalization, digitization and the impact of technology and AI.
Known for its accessible approach and focus on active learning, this edition contains new critical thinking questions, relatable real-world examples and topical discussion of news stories to help students understand why economics matters.
The Mankiw & Taylor franchise is also available as a MindTap digital resource (purchased separately). This flexible online learning solution provides students with all the tools they need to succeed including an interactive eBook, engaging multimedia, practice questions, assessment materials, revision aids and analytics to help you track their progress.
Contents
Part 1: Introduction to economics
1. What is economics?
2. Thinking like an economist
Part 2: The theory of competitive markets
3. The market forces of supply and demand
4. Background to demand: Consumer choices
5. Background to supply: The costs of production of firms
6. Background to supply: Firms in competitive markets
7. Consumers, producers and the efficiency of markets
Part 3: Interventions in markets
8. Supply, demand and government policies
9. Public goods, common resources and merit goods
10. Market failure and externalities
Part 4: Firm behaviour and market structures
11. Market structures I: Monopoly
12. Market structures II: Monopolistic competition
13. Market structures III: Oligopoly
14. Market structures IV: Contestable markets
Part 5: Factor markets
15. The economics of factor markets
Part 6: Inequality
16. Income inequality and poverty
Part 7: Trade
17. Interdependence and the gains from trade
Part 8: Heterodox economics
18. Information and behavioural economics
19. Heterodox theories in economics
Part 9: The data of macroeconomics
20. Measuring a nation's well-being and the price level
Part 10: The real economy in the long run
21. Production and growth
22. Unemployment and the labour market
Part 11: Long-run macroeconomics
23. Saving, investment and the financial system
24. The monetary system
25. Open-economy macroeconomics
Part 12: Short-run economic fluctuations
26. Business cycles
27. Keynesian economics and IS-LM analysis
28. Aggregate demand and aggregate supply
29. The influence of monetary and fiscal policy on aggregate demand
30. The short-run trade-off between inflation and unemployment
31. Supply-side policies
Part 13: International macroeconomics
32. Economic shocks
33. The European Union
34. Sustainability economics



