Gain a strong foundation in economics with today's most popular economics text, trusted by students like you worldwide -- Mankiw’s "Principles of Economics," 11th Edition. Using a clear, inviting writing style, this edition focuses exclusively on content to help you better understand the world and economy in which you live. Become a more astute participant in today's economic environment as you learn the potential and limits of economic policy. The latest examples and learning features clarify and bring economic principles to life as the author puts himself in the position of someone seeing economics for the first time. Dr. Mankiw's goal is to emphasize the material you will find most relevant and interesting as you study economics. MindTap digital resources, Aplia digital homework solution and author videos are also available to help you further master key economic principles.
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 Economics of Healthcare.
13. The Design of the Tax System.
Part V: FIRM BEHAVIOR AND THE ORGANIZATION OF INDUSTRY.
14. The Costs of Production.
15. Firms in Competitive Markets.
16. Monopoly.
17. Monopolistic Competition.
18. Oligopoly.
Part VI: THE ECONOMICS OF THE LABOR MARKET.
19. The Markets for the Factors of Production.
20. Earnings and Discrimination.
21. Income Inequality and Poverty.
Part VII: TOPICS FOR FURTHER STUDY.
22. The Theory of Consumer Choice.
23. Frontiers in Microeconomics.
Part VIII: THE DATA OF MACROECONOMICS.
24. Measuring a Nation’s Income.
25. Measuring the Cost of Living.
Part IX: THE REAL ECONOMY IN THE LONG RUN.
26. Production and Growth.
27. Saving, Investment, and the Financial System.
28. The Basic Tools of Finance.
29. Unemployment.
Part X: MONEY AND PRICES IN THE LONG RUN.
30. The Monetary System.
31. Money Growth and Inflation.
Part XI: THE MACROECONOMICS OF OPEN ECONOMICS.
32. Open-Economy Macroeconomics: Basic Concepts.
33. A Macroeconomic Theory of the Open Economy.
Part XII: SHORT-RUN ECONOMIC FLUCTUATIONS.
34. Aggregate Demand and Aggregate Supply.
35. The Influence of Monetary and Fiscal Policy on Aggregate Demand.
36. The Keynesian Cross.
37. The Short-Run Trade-off between Inflation and Unemployment.
Part XIII: FINAL THOUGHTS.
38. Five Debates over Macroeconomic Policy.
Appendix: How Economists Use Data.
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N. Gregory Mankiw
N. Gregory Mankiw is the Robert M. Beren Professor of Economics at Harvard University. For 14 years he taught EC10 Principles, the most popular course at Harvard. Dr. Mankiw studied economics at Princeton University and MIT. He 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. Dr. Mankiw's 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. Dr. 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, Dr. Mankiw served as chairman of the President’s Council of Economic Advisers.
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The 11th edition's new Chapter 36 on the Keynesian Cross (income-expenditure model) explains the multiplier effect and positive feedback loop in Keynesian theory. Instructors who prefer to skip this new chapter, however, can do so without loss of continuity.
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Timely topics have been added to every chapter -- covering issues like antitrust cases, trade policies, consumer behavior, CPI data and monetary policy -- along with fresh discussions on artificial intelligence, sound institutions for prosperity and irrelevance of bilateral trade deficits.
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MindTap now features Data Exploration activities using real data from sources like FRED and BLS, with two auto-graded parts: students analyze a hypothetical scenario and then explore actual data to connect theory with real-world application.
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MindTap now offers AI In Action activities, powered by Bongo, where students use generative AI to research, analyze and forecast real-world economic topics, then present findings in a written report to enhance student soft-skills.
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MindTap engages students with hallmark activities, including Video Applications to introduce important themes, step-by-step Video Problem Walk-Throughs for tackling tough questions and dynamic Concept Clips that make key economic terms easy to understand.
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MindTap also includes A+ Test Prep that equips students for success with over 3,900 current test questions -- many paired with Quick Coach videos for on-the-spot support -- proven to boost performance on high-stakes exams and overall course results.
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