Principles of Economics

Principles of Economics


By (author) N. Gregory Mankiw

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  • Publisher: South-Western College Publishing
  • Format: Hardback | 880 pages
  • Dimensions: 222mm x 256mm x 36mm | 1,800g
  • Publication date: 20 January 2014
  • Publication City/Country: Florence
  • ISBN 10: 128516587X
  • ISBN 13: 9781285165875
  • Edition: 7, Revised
  • Edition statement: 7th Revised edition
  • Illustrations note: colour illustrations
  • Sales rank: 252,170

Product description

The most widely used principles text is now updated and thoroughly revised. Maintaining the clear, concise exposition, precise presentation, emphasis on interesting and relevant concepts, and teaching package that is the most extensive in the industry, it can be the perfect complement to your teaching.

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Author information

N. Gregory Mankiw is Professor of Economics at Harvard University. He has taught macroeconomics, microeconomics, statistics, and principles of economics. Professor 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. In addition to his teaching, research, and writing, Professor 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. In addition, he maintains a very popular blog for students of economics at

Review quote

"Very student friendly text. Makes economics easy to understand. Some of the other texts would take a lot of reading to explain an idea."

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. 10. Externalities. 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. 15. Monopoly. 16. Monopolistic Competition. 17. Oligopoly. 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.