Now firmly established as one of the leading economics principles texts in the UK and Europe, this exciting, new fifth edition of Economics by N. Gregory Mankiw (Harvard University) and Mark P. Taylor (Washington University), has been fully updated. Much revered for its friendly and accessible approach, emphasis on active learning, and unrivalled support resources, this edition also has an improved structure to ensure the text aligns even more closely with the latest courses. The new edition incorporates additional coverage of a number of key topics including heterodox theories in economics such as complexity theory; institutional economics and feminist economics; different theories in international trade; game theory; different measures of poverty; the 'flat Phillips curve; and the future of the European Union. This title is available with MindTap, a flexible online learning solution that provides students with all the tools they need to succeed including an interactive eReader, engaging multimedia, practice questions, assessment materials, revision aids, and analytics to help you track their progress.
Part 1 Introduction to Economics
1 What is economics?
2 Thinking like an Economist
Part 2 The Theory of Competitive Markets
3 The market forces of supply and demand
4 Background to demand: consumer choices
5 Background to supply: firms in competitive markets
6 Consumers, producers and the efficiency of markets
Part 3 Interventions in Markets
7 Supply, demand and government policies
8 Public goods, common resources and merit goods
9 Market failure and externalities
Part 4 Firm behaviour and market structures
10 Firms production decisions
11 Market structures i: Monopoly
12 Market structures ii: Monopolistic competition
13 Market structures iii: Oligopoly
14 Market structures iv: Contestable markets
Part 5 Factor Markets
15 The economics of factor markets
Part 6 Inequality
16 Income inequality and poverty
Part 7 Trade
17 Interdependence and the gains from trade
Part 8 Heterodox Economics
18 Information and behavioural economics
19 Heterodox theories in economics
Part 9 The data of Macroeconomics
20 Measuring a nations wellbeing and the price level
Part 10 The real economy in the long run
21 Production and growth
22 Unemployment and the labour market
Part 11 Long-run Macroeconomics
23 Saving, investment and the financial system
24 The monetary system
25 Open-economy macroeconomics
Part 12 Short-run Economic Fluctuations
26 Business cycles
27 Keynesian economics and is-lm analysis
28 Aggregate demand and aggregate supply
29 The influence of monetary and fiscal policy on aggregate demand
30 The short-run trade-off between inflation and unemployment
31 Supply-side policies
Part 13 International Macroeconomics
32 The causes and aftermath of the financial crisis
33 Common currency areas
34 The future of the European Union
