Principles of Macroeconomics

N. Gregory Mankiw is the Robert M. Beren Professor of Economics at Harvard University. As a student, he studied economics at Princeton University and the Massachusetts Institute of Technology. As a teacher, 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. In addition to his teaching, research and writing, Professor Mankiw has been a research associate of the National Bureau of Economic Research and an advisor to the Federal Reserve Banks of Boston and New York and the Congressional Budget Office. From 2003 to 2005, he served as chairman of the US President’s Council of Economic Advisors and was an advisor to presidential candidate Mitt Romney during the 2012 US presidential election.

• About the Author.Brief Contents.Table of Contents.Preface.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. Application: The Costs of Taxation.9. Application: International Trade.Part IV: THE DATA OF MACROECONOMICS.10. Measuring a Nation’s Income.11. Measuring the Cost of Living.Part V: THE REAL ECONOMY IN THE LONG RUN.12. Production and Growth.13. Saving, Investment, and the Financial System.14. The Basic Tools of Finance.15. Unemployment and Its Natural Rate.Part VI: MONEY AND PRICES IN THE LONG RUN.16. The Monetary System.17. Money Growth and Inflation.Part VII: THE MACROECONOMICS OF OPEN ECONOMICS.18. Open-Economy Macroeconomics: Basic Concepts.19. A Macroeconomic Theory of the Open Economy.Part VIII: SHORT-RUN ECONOMIC FLUCTUATIONS.20. Aggregate Demand and Aggregate Supply.21. The Influence of Monetary and Fiscal Policy on Aggregate Demand.22. The Short-Run Tradeoff between Inflation and Unemployment.Part IX: FINAL THOUGHTS.23. Six Debates over Macroeconomic Policy.Glossary.Index.