Principles of Economics Arab World Edition,
5th Edition

Part One: Introduction
1. Ten principles of economics
2. Thinking like an economist
3. Interdependence and the gains from trade

Part Two: How markets work
4. The market forces of supply and demand
5. Elasticity and its applications
6. Supply, demand and government policies

Part Three: Markets and welfare
7. Consumers, producers and the efficiency of markets
8. Application: The costs of taxation
9. Application: International trade

Part Four: The economics of the public sector
10. Externalities
11. Public goods and common resources
12. The design of the tax system

Part 5: 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 6: The economics of labor markets
18. The markets for the factors of production
19. Earnings and discrimination
20. Income inequality and poverty

Part 7: Topics for further study
21. The theory of consumer choice
22. Frontiers of microeconomics

Part 8: The data of macroeconomics
23. Measuring a nation’s income
24. Measuring the cost of living

Part 9: The real economy in the long run
25. Production and growth
26. Saving, investment and the financial system
27. The basic tools of finance
28. Islamic finance
29. Unemployment

Part 10: Money and prices in the long run
30. The monetary system
31. Money growth and inflation

Part 11: The macroeconomics of open economies
32. Open-economy macroeconomics: Basic concepts
33. A macroeconomic theory of the open economy

Part 12: Short-run economic fluctuations
34. Aggregate demand and aggregate supply
35. The influence of monetary and fiscal policy on aggregate demand
36. The short-run trade-off between inflation and unemployment

Part 13: Final thoughts
37.Six debates over macroeconomic policy

• Gregory Mankiw

  N. Gregory Mankiw is Robert M. Beren Professor of Economics at Harvard University. For 14 years he taught EC10 Principles, the most popular course at Harvard. He studied economics at Princeton University and MIT. Professor Mankiw is a prolific writer and a regular participant in academic and policy debates. His research includes work on price adjustment, consumer behaviour, 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. His work has also appeared in more widely accessible forums, including The New York Times, The Washington Post, The Wall Street Journal and Fortune. 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 chairperson of the President’s Council of Economic Advisers. Professor Mankiw’s texts in introductory and intermediate economics are the worldwide market leaders and have reached many millions of students.

• Mohamed H. Rashwan

  Mohamed H Rashwan is Professor of Finance and Economics and Head of the Business Department at the British University in Egypt (BUE), and a Fulbright alumnus of the University of South Carolina, Darla Moore School of Business. Before joining the BUE, Dr. Rashwan worked for Zayed University in the United Arab Emirates. He was also the academic coordinator for the Master of Arts in Islamic Economics and Wealth Management provided by the Institute for Islamic World Studies (IIWS). Dr. Rashwan has taught several courses in the field of economics, finance and investment at both undergraduate and graduate levels. He is a regular contributor to academic and policy debates in economics and finance, with a special focus on investment and corporate finance. In addition to his teaching, research and writing, Dr. Rashwan has been a consultant in the field of corporate and Islamic finance for more than 16 years.

• Andrew Ashwin

  Andrew Ashwin is an Associate Lecturer at the University of Lincoln where he teaches on MBA and MSc courses in leadership and commercial and operations management. He has an MBA from the University of Hull, UK, and a PhD from the University of Leicester, UK. Andrew is an experienced author writing a number of texts on economics and business for students at different levels and publications related to his PhD research. Andrew was Chair of Examiners for a major awarding body in England and Wales for Business Economics and is a former editor of the Economics, Business and Enterprise Association (EBEA) journal. Andrew is also a subject expert for economics to the qualifications regulator in England and Wales and is a Chartered Educational Assessor and a Fellow of the Chartered Institute of Educational Assessors.

• New and updated Case Studies and In The News features to reflect current economic issues, including the impact of energy resources on economics, plastics recycling and minimum wage laws in the region.

• Discussion questions for Case Studies to encourage students’ critical thinking skills.

• Interactive, digital graph builder included in MindTap to help students understand complex graphs.

• A thorough and careful presentation of the core Principles of Economics to help students learn how to think like economists and develop a clearer perspective on current events.

• Comprehensive coverage of both microeconomics and macroeconomics in a coherent and logical structure to guide students’ understanding and progression through economic concepts and theories.

• Clear and accessible writing style to ensure ease of use and comprehension.

• Examples and case studies relating to life in the Arab world to illustrate real-life applications of economic concepts and theories.

• A chapter on Islamic finance to provide useful insights into how Islamic and non-Islamic banking differ .

• Macro chapters explore developments in macroeconomic policy and the impact of geo-political shocks on the economy.

• Dedicated online resources to allow self-study, concept check and revision, including MindTap, a customizable online learning platform with additional assessment questions, videos and cases.

Cengage provides a range of supplements that are updated in coordination with the main title selection. For more information about these supplements, contact your Learning Consultant.