Principles of Microeconomics » (5th Edition)

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 www.gregmankiw.blogspot.com.

In writing this textbook, Mankiw has tried to put himself in the position of someone seeing economics for the first time. The author s conversational writing style is superb for presenting the politics and science of economic theories to tomorrow s decision-makers. Because Mankiw wrote it for the students, the book stands out among all other principles texts by intriguing students to apply an economic way of thinking in their daily lives. Receiving such praise as perhaps the best ever textbook in economic principles, it s no wonder Mankiw s prize project has quickly become one of the most successful books ever to be published in the college marketplace.

PART I. INTRODUCTION. 1. Ten Principles of Economics. 2. Thinking Like an Economist. Appendix: Graphing: A Brief Review. 3. Interdependence and the Gains from Trade. PART II. SUPPLY AND DEMAND I: HOW MARKETS WORK. 4. The Market Forces of Supply and Demand. 5. Elasticity and Its Application. 6. Supply, Demand, and Government Policies. PART III. SUPPLY AND DEMAND II: MARKETS AND WELFARE. 7. Consumers, Producers, and the Efficiency of Markets. 8. Application: 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. Oligopoly. 17. Monopolistic Competition. PART VI. THE ECONOMICS OF LABOR MARKETS. 18. The Markets for the Factors of Production. 19. Earnings and Discrimination. 20. The Distribution of Income. PART VII. ADVANCED TOPIC. 21. The Theory of Consumer Choice.