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Principles of Economics, 5th Edition

  • N. Gregory Mankiw Harvard University
  • ISBN-10: 0324589972  |  ISBN-13: 9780324589979
  • 904 Pages
  • Previous Editions: 2007, 2004, 2001
  • © 2009 | Published
  • List Price = $ 439.95
  • For quantity discounts, Contact your Representative
  • For single copy purchases, visit CengageBrain.com

About

Overview

With its clear and engaging writing style, PRINCIPLES OF ECONOMICS, 5E, continues to be one of the most popular books on economics available today. Mankiw emphasizes material that you're likely to find interesting about the economy (particularly if you're studying economics for the first time), including real-life scenarios, useful facts, and the many ways economic concepts play a role in the decisions you make every day.

Features and Benefits

  • Excerpts from many newspaper articles encourage students to apply basic economic theory to discover how economics can provide an illuminating new perspective and enable a greater understanding of world events.
  • "FYI" boxes provide additional material to expand key concepts and discussions by offering a glimpse into the history of economic thought, clarifying technical issues, and exploring supplementary topics you might choose to complement your core lectures.
  • Economic theory is most useful and interesting when applied to actual events and policies, which is why the text contains numerous case studies to vividly illustrate the real-world applications and consequences of key principles.
  • "Quick Quizzes" follow each major section to help students check their comprehension of what they just learned and to focus their review when preparing for exams.
  • Each chapter contains a variety of problems and applications that encourage students to apply the material they have learned. These practical, interesting activities serve equally well as homework assignments and starting points for lively classroom discussions.

Table of Contents

Part 1: INTRODUCTION.
1. Ten Principles of Economics.
2. Thinking Like an Economist.
Appendix: Graphing: A Brief Review.
3. Interdependence and the Gains from Trade.
Part 2: 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 3: 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 4: THE ECONOMICS OF PUBLIC SECTOR.
10. Externalities.
11. Public Goods and Common Resources.
12. The Design of the Tax System.
Part 5: FIRM BEHAVIOR AND THE ORGANIZATION OF INDUSTRY.
13. The Costs of Production.
14. Firms in Competitive Markets.
15. Monopoly.
16. Monopolistic Competition.
17. Oligopoly.
Part 6: THE ECONOMICS OF LABOR MARKETS.
18. The Markets for the Factors of Production.
19. Earnings and Discrimination.
20. Income Inequality and Poverty.
Part 7: TOPICS FOR FURTHER STUDY.
21. The Theory of Consumer Choice.
22. Frontiers in Microeconomics.
Part 8: THE DATA OF MACROECONOMICS.
23. Measuring a Nation's Income.
24. Measuring the Cost of Living.
Part 9: THE REAL ECONOMY IN THE LONG RUN.
25. Production and Growth.
26. Saving, Investment, and the Financial System.
27. The Basic Tools of Finance.
28. Unemployment and Its Natural Rate.
Part 10: MONEY AND PRICES IN THE LONG RUN.
29. The Monetary System.
30. Money Growth and Inflation.
Part 11: THE MACROECONOMICS OF OPEN ECONOMIES.
31. Open-Economy Macroeconomics: Basic Concepts.
32. A Macroeconomic Theory of the Open Economy.
Part 12: SHORT-RUN ECONOMIC FLUCTUATIONS.
33. Aggregate Demand and Aggregate Supply.
34. The Influence of Monetary and Fiscal Policy on Aggregate Demand.
35. The Short-Run Tradeoff between Inflation and Unemployment.
Part 13: FINAL THOUGHTS.
36. Five Debates over Macroeconomic Policy.

What's New

  • Over 40 new items expand the usefulness and appeal of popular features such as "In the News," "FYI," and "Case Studies," creating an even more engaging and timely learning experience for students. Highlights include "Go For It on Fourth Down, Coach? Maybe You Should Ask an Egghead," "Environmental Economics," "Energy Demand," "Second Thoughts About Free Trade," "Neurofinance," "Monetary Lessons from Iraq," and the new case studies "Alternative Measures of Inequality" and "The Search for Giffen Goods."
  • Reorganized and expanded chapters on monopoly and monopolistic competition make important concepts easy for students to grasp and apply, including the place of monopolistic competition between monopoly and perfect competition and the benefits of analysis based on game theory.
  • New material in multiple chapters enhances explanations of key ideas to help students learn more effectively. Examples include the significance of the gains from trade for individuals and nations and the reasons net capital outflow does not depend on the exchange rate.
  • Numerous new "Questions for Review" and "Problems and Applications" appear throughout the fifth edition, providing an effective, integrated way for students to self-assess their mastery of the material and to review more efficiently for assignments and exams.
  • Created by economist Ron Cronovich of Carthage College, Premium PowerPoint® Presentations feature chapter-by-chapter slides designed to ease your course preparation time while increasing student involvement in the classroom. The presentations organize lecture points into sections that students can easily digest, animate graphs the way you might draw them, and include Student Note Prompt handouts to facilitate effective note taking without distracting students from active participation in class.

Supplements

All supplements have been updated in coordination with the main title. Select the main title's "About" tab, then select "What's New" for updates specific to title's edition.

For more information about these supplements, or to obtain them, contact your Learning Consultant.

Instructor Supplements

Aplia Instant Access  (ISBN-10: 0324784848 | ISBN-13: 9780324784848)

List Price = $139.00  | College Bookstore Wholesale Price = $104.25

AP* Instructor's Resource CD-ROM  (ISBN-10: 0324785321 | ISBN-13: 9780324785326)

AP* Instructor's Resource Guide  (ISBN-10: 0324785399 | ISBN-13: 9780324785395)

ABC Videos Web Site Instant Access Code  (ISBN-10: 0324826834 | ISBN-13: 9780324826838)

List Price = $28.00  | College Bookstore Wholesale Price = $28.00

WebTutor™ on Blackboard® Instant Access Code  (ISBN-10: 032478080X | ISBN-13: 9780324780802)

More than just an interactive study guide, WebTutor™ is an anytime, anywhere online learning solution, keeping you connected to your textbook, instructor, and classmates.

List Price = $58.00  | College Bookstore Wholesale Price = $58.00

WebTutor™ on WebCT™ Instant Access Code  (ISBN-10: 0324780818 | ISBN-13: 9780324780819)

More than just an interactive study guide, WebTutor™ is an anytime, anywhere online learning solution, keeping you connected to your textbook, instructor, and classmates.

List Price = $58.00  | College Bookstore Wholesale Price = $58.00

Premium PowerPoint®  (ISBN-10: 0324665237 | ISBN-13: 9780324665239)

Available on the Instructor’s Resource CD and online and created by economist Ron Cronovich of Carthage College, these chapter-by-chapter PowerPoint® slides are designed to ease your course preparation time while increasing student involvement in the classroom. The Premium PowerPoint lecture points are "chunked" into sections that are easily digestible to students and animate graphs the way you might draw them on a blackboard. Student Note Prompt handouts are provided so that students can actively participate in taking careful notes without worrying about recording every word. Carefully crafted to complement the Mankiw text, Professor Cronovich’s slides also includes notes and suggestions to assist instructors in their teaching methods.

AP* Student Study Guide  (ISBN-10: 0324597800 | ISBN-13: 9780324597806)

List Price = $59.95  | College Bookstore Wholesale Price = $45.00

EconCentral Instant Access Code  (ISBN-10: 0324782837 | ISBN-13: 9780324782837)

Ready to help students apply chapter concepts to the real world? Multiple resources for learning and reinforcing principles concepts are now available in one place! EconCentral is your one-stop shop for learning tools and activities that help students succeed. EconCentral equips learners with a portal to a wealth of resources that help them both study and apply economic concepts. As they read and study the chapters, students can access video tutorials, review with flash cards and a graphing tool as well as check their understanding of the chapter with interactive quizzing. All the study and application resources in EconCentral are organized by chapter to help your students get the most from our text.

List Price = $29.00  | CengageBrain Price = $29.00  | College Bookstore Wholesale Price = $29.00

2010-2011 Edition Test Bank, Year Two  (ISBN-10: 0324781040 | ISBN-13: 9780324781045)

2011-2012 Edition Test Bank, Year Three  (ISBN-10: 0324781032 | ISBN-13: 9780324781038)

Instructor's Manual with Solutions Manual  (ISBN-10: 0324591276 | ISBN-13: 9780324591279)

Prepared by Linda S. Ghent, Eastern Illinois University, the fifth edition of the Microeconomics Instructor's Manual offers a detailed outline for each chapter of the text that provides learning objectives, identifies stumbling blocks that students may face and offers helpful teaching tips, and provides suggested in-classroom activities for a more "cooperative learning" experience. The Instructor's Manual also includes solutions to all end-of-chapter exercises, Quick Quizzes, Questions for Review, and Problems and Applications found in the text.

Instructor's Manual with Solutions Manual  (ISBN-10: 0324591268 | ISBN-13: 9780324591262)

Prepared by Linda S. Ghent, Eastern Illinois University, the fifth edition of the Macroeconomics Instructor's Manual offers a detailed outline for each chapter of the text that provides learning objectives, identifies stumbling blocks that students may face and offers helpful teaching tips, and provides suggested in-classroom activities for a more "cooperative learning" experience. The Instructor's Manual also includes solutions to all end-of-chapter exercises, Quick Quizzes, Questions for Review, and Problems and Applications found in the text.

Instructor's Edition  (ISBN-10: 0324591330 | ISBN-13: 9780324591330)

Bundle: Text + Global Economic Crisis (GEC) Printed Access Card  (ISBN-10: 1439051704 | ISBN-13: 9781439051702)

List Price = $438.95  | College Bookstore Wholesale Price = $330.00

Student Supplements

Aplia™, 1 term Instant Access  (ISBN-10: 1111926484 | ISBN-13: 9781111926489)

Succeed in your course with Aplia's interactive learning system--featuring practice problems with immediate feedback and tools developed specifically for PRINCIPLES OF ECONOMICS, 5th Edition. Aplia has already helped more than a million students succeed in college classes.

List Price = $125.00  | CengageBrain Price = $125.00  | College Bookstore Wholesale Price = $125.00

Aplia Instant Access  (ISBN-10: 0324784848 | ISBN-13: 9780324784848)

Aplia™ is an online interactive learning solution that helps you improve comprehension – and your grade – by integrating a variety of mediums and tools such as video, tutorials, practice tests and interactive e-book. Founded by a professor to enhance his own courses, Aplia provides automatically graded assignments with detailed, immediate feedback on every question, and innovative teaching materials. More than 1,000,000 students like you have used Aplia at over 1800 institutions. Aplia should be purchased only when assigned by your instructor as part of your course.

List Price = $139.00  | College Bookstore Wholesale Price = $104.25

ABC Videos Web Site Instant Access Code  (ISBN-10: 0324826834 | ISBN-13: 9780324826838)

List Price = $28.00  | College Bookstore Wholesale Price = $28.00

WebTutor™ on Blackboard® Instant Access Code  (ISBN-10: 032478080X | ISBN-13: 9780324780802)

More than just an interactive study guide, WebTutor™ is an anytime, anywhere online learning solution, keeping you connected to your textbook, instructor, and classmates.

List Price = $58.00  | College Bookstore Wholesale Price = $58.00

WebTutor™ on WebCT™ Instant Access Code  (ISBN-10: 0324780818 | ISBN-13: 9780324780819)

More than just an interactive study guide, WebTutor™ is an anytime, anywhere online learning solution, keeping you connected to your textbook, instructor, and classmates.

List Price = $58.00  | College Bookstore Wholesale Price = $58.00

Premium PowerPoint®  (ISBN-10: 0324665237 | ISBN-13: 9780324665239)

List Price = $.00  | College Bookstore Wholesale Price = $.00

AP* Student Study Guide  (ISBN-10: 0324597800 | ISBN-13: 9780324597806)

List Price = $59.95  | College Bookstore Wholesale Price = $45.00

EconCentral Instant Access Code  (ISBN-10: 0324782837 | ISBN-13: 9780324782837)

Ready to help students apply chapter concepts to the real world? Multiple resources for learning and reinforcing principles concepts are now available in one place! EconCentral is your one-stop shop for learning tools and activities that help students succeed. EconCentral equips learners with a portal to a wealth of resources that help them both study and apply economic concepts. As they read and study the chapters, students can access video tutorials, review with flash cards and a graphing tool as well as check their understanding of the chapter with interactive quizzing. All the study and application resources in EconCentral are organized by chapter to help your students get the most from our text.

List Price = $29.00  | CengageBrain Price = $29.00  | College Bookstore Wholesale Price = $29.00

Bundle: Text + Global Economic Crisis (GEC) Printed Access Card  (ISBN-10: 1439051704 | ISBN-13: 9781439051702)

List Price = $438.95  | College Bookstore Wholesale Price = $330.00

Meet the Author

Author Bio

N. Gregory Mankiw

N. Gregory Mankiw is Robert M. Beren Professor of Economics at Harvard University. He studied economics at Princeton University and MIT. Dr. 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. Dr. 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.