Now firmly established as one of the leading economics principles texts in the UK and Europe, this exciting new fourth edition of Economics by N. Gregory Mankiw (Harvard University) and Mark P. Taylor (Washington University), has been fully updated. New topics have been added in including theories on, for example, Marxist and Feminist theories on labour giving wider context to economic issues. A new chapter on Issues in Financial markets has been added covering the financial crisis and its causes and the final chapter has been updated to reflect the post-crisis world and how theories of the crisis have emerged.
New to this edition
Case Studies and In the News boxes have been updated throughout reflecting the current economic issues faced across the world.
New topics on the post-financial crisis world, causes of the financial crisis and feminist and Marxist economics have been added making this one the most comprehensive introductory economics texts available.
Brand new chapter on Issues in Financial Markets covering the financial crisis and its causes.
Supplementary mathematics content is covered in a new edition, Maths for Mankiw Taylor Economics.
Real life case studies highlight the economic issues that businesses and countries across the world face.
Part 1 Introduction to Economics
1 What is economics?
2 Thinking like an economist
Part 2 Supply and Demand: How markets work
3 The market forces of supply and demand
4 Elasticity and its applications
5 Background to demand: Consumer choices
6 Background to supply: Firms in competitive markets
Part 3 Markets, efficiency and welfare
7 Consumers, producers and the efficiency of markets
8 Supply, demand and government policies
Part 4 The economics of the public sector
9 The tax system
Part 5 Inefficient market allocations
10 Public goods, common resources and merit goods
11 Market failure and externalities
12 Information and behavioural economics
Part 6 Firm behaviour and market structures
13 Firms production decisions
14 Market structures I: Monopoly
15 Market structures II: Monopolistic competition
16 Market structures III: Oligopoly
Part 7 Factor markets
17 The economics of factor markets
Part 8 Inequality
18 Income inequality and poverty
Part 9 Trade
19 Interdependence and the gains from trade
Macroeconomics prologue
Part 10 The data of macroeconomics
20 Measuring a nations well-being
21 Measuring the cost of living
Part 11 The real economy in the long run
22 Production and growth
23 Unemployment
Part 12 Interest rates, money and prices in the long run
24 Saving, investment and the financial system
25 The basic tools of finance
26 Issues in Financial Markets
27 The monetary system
28 Money growth and inflation
Part 13 The macroeconomics of open economies
29 Open-economy macroeconomics: Basic concepts
30 A macroeconomic theory of the open economy
Part 14 Short-run economic fluctuations
31 Business cycles
32 Keynesian economics and IS-LM analysis
33 Aggregate demand and aggregate supply
34 The influence of monetary and fiscal policy on aggregate demand
35 The short-run trade-off between inflation and unemployment
36 Supply-side policies
Part 15 International macroeconomics
37 Common currency areas and European monetary union
38 The financial crisis and sovereign debt
List of formulas
