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Full Description

Now you can master the principles of economics with the help of the most popular, widely-used economics textbook by students worldwide -- Mankiw's book emphasizes only the material that will help you better understand the world in which you live, will make you a more astute participant in the economy, and will give you a better understanding of both the potential and limits of economic policy. The latest relevant economic examples bring principles to life. Acclaimed text author N. Gregory Mankiw explains, "I have 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." Powerful student-focused digital resources are available in leading MindTap (R) and Aplia (TM) digital learning and homework solutions that reinforce the principles presented in this edition.

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.