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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 principle 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.

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 http://www.gregmankiw.blogspot.com.

Pt. I Introduction 1
Ch. 1 Ten Principles of Economics 3
Ch. 2 Thinking Like an Economist 17
Ch. 3 Interdependence and the Gains from Trade 45
Pt. II Supply and Demand I: How Markets Work 59
Ch. 4 The Market Forces of Supply and Demand 61
Ch. 5 Elasticity and Its Application 89
Ch. 6 Supply, Demand, and Government Policies 111
Pt. III Supply and Demand II: Markets and Welfare 131
Ch. 7 Consumers, Producers, and the Efficiency of Markets 133
Ch. 8 Application: The Costs of Taxation 155
Ch. 9 Application: International Trade 173
Pt. IV The Data of Macroeconomics 197
Ch. 10 Measuring a Nation's Income 199
Ch. 11 Measuring the Cost of Living 217
Pt. V The Real Economy in the Long Run 235
Ch. 12 Production and Growth 237
Ch. 13 Saving, Investment, and the Financial System 263
Ch. 14 The Natural Rate of Unemployment 287
Pt. VI Money and Prices in the Long Run 311
Ch. 15 The Monetary System 313
Ch. 16 Inflation: Its Causes and Costs 331
Pt. VII The Macroeconomics of Open Economies 357
Ch. 17 Open-Economy Macroeconomics: Basic Concepts 359
Ch. 18 A Macroeconomic Theory of the Open Economy 381
Pt. VIII Short-Run Economic Fluctuations 401
Ch. 19 Aggregate Demand and Aggregate Supply 403
Ch. 20 The Influence of Monetary and Fiscal Policy on Aggregate Demand 429
Ch. 21 The Short-Run Tradeoff between Inflation and Unemployment 455
Pt. IX Final Thoughts 479
Ch. 22 Five Debates over Macroeconomic Policy 481
Glossary 499
Credits 503
Index 505
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