Principles of Macroeconomics, 4th Edition

  • N. Gregory Mankiw Harvard University
  • ISBN-10: 0324236956
  • ISBN-13: 9780324236958
  • 616 Pages Paperback 
  • Previous Editions: 2004, 2001
  • © 2007 | Published
 

About The Solution

Overview

Mankiw's Principles of Economics textbooks continue to be the most popular and widely used text in the economics classroom. PRINCIPLES OF MACROECONOMICS, 4th Edition features a strong revision of content in all 23 chapters while maintaining the clear and accessible writing style that is the hallmark of the highly respected author. The 4th edition also features an expanded instructor's resource package designed to assist instructors in course planning and classroom presentation and full integration of content with Aplia, the leading online Economics education program. In the 4th edition Greg Mankiw has created a full educational program for students and instructors -- Experience Mankiw 4e. "I have tried to put myself in the position of someone seeing economics for the first time. My goal is to emphasize the material that students should and do find interesting about the study of the economy." - N. Gregory Mankiw.


Features/Benefits

  • Mankiw's Ten Principles of Economics: Mankiw's Ten Principles of Economics introduces students to the ten most important principles, which are then thoroughly incorporated in discussions throughout the book.
  • A Great Chapter to Create Economic Majors: Chapter 23 was one of Mankiw's favorite chapters to write. He presents both sides of five major debates over economic policy as a way to end the course. Reviewers say that this chapter is the "perfect ending to a great novel." Use this chapter as a way to get students involved in debating macroeconomic issues.
  • "FYI" Boxes: These boxes provide additional material "for your information." Some of them offer a glimpse into the history of economic thought. Others clarify technical issues. Still others discuss supplementary topics that instructors might choose either to discuss or skip in their lectures.
  • "In the News" Boxes: One benefit that students gain from studying economics is a new perspective and greater understanding about news from around the world. To highlight this benefit, excerpts from many newspaper articles are included, some of which are opinion columns written by prominent economists. These articles, together with brief introductions, show how basic economic theory can be applied. Many of these boxes are new to the 4th edition.
  • Case Studies: Economic theory is useful and interesting only if it can be applied to understanding actual events and policies. This book, therefore, contains numerous case studies that apply the theory that has just been developed.
  • Quick Quizzes: After each major section, students are offered a "quick quiz" to check their comprehension of what they have just learned. Students can compare their answers to the answers provided at the end of the book, then reread the material in that section if necessary.
  • Problems and Applications: Each chapter also contains a variety of problems and applications that ask students to apply the material that they have learned. Some professors may use these questions for homework assignments. Others may use them as a starting point for classroom discussions.

What's New

  • Revised Aggregate Demand and Aggregate Supply Content: The AD/AS content has been revised to streamline the instructor's experience teaching the material in the classroom and to clarify student thinking on an economy's transition from the short run to the long run. For a detailed listing of these extensive changes contact your local sales representative or review the pdf of chapter 33 at http://mankiw.swlearning.com.
  • Extensive Current Events Updates: 40 new items have been added to the popular text features such as "In the News", "FYI" and "Case Studies" creating an engaging and timely learning experience for learners. Included among the new items are a new case study, "Mr. Mankiw Goes to Washington," and a new "In the News" box, "Super Bowl Economics" explaining how economics analysis helped the New England Patriots win the Super Bowl.
  • New International Content and Examples: New content on the global distribution of income and child labor: has been added in response to reviewer feedback asking for more detailed coverage of international economics, To illicit classroom discussion, the question of What is the best way to reduce the use of child labor around the world?" is raised.
  • Additional New Content Reflecting Today's World of Economics: Every chapter in the 4th edition has been revised and modified to reflect the current environment of today's domestic and global economy. These topics, among others, include: the presentation of the possibilities frontier model, free markets, transitions of supply and demand curves, tradable pollution permits, discussion of goods, economic profit, welfare reform, and the Phillips curve.
  • Aplia Integration for Mankiw 4e: Mankiw's 4th edition is fully integrated with Aplia, the premier online economics learning program. Users benefit from consistent economic language between the 4th edition and Aplia, discounted product deliver options (print or digital), and the experience of applying the theory learned in the classroom. Visit www.aplia.com/thomson for more information.
  • Premium PowerPoint® Presentations for Mankiw 4th edition: Created by economist Ron Cronovich of the University of Nevada, Las Vegas (UNLV), these chapter by chapter PowerPoint slides are designed to ease course preparation time for instructors while increasing student involvement in the classroom. Cronovich has been using this brand of presentation for two consecutive semesters and was recently named a UNLV Teacher of the Year award winner.
  • Instructor's Edition featuring the Resource Integration Guide for Mankiw 4e: Mankiw's 4th edition features an Instructor's Edition with a Resource Integration Guide offering suggestions on how and when to incorporate elements of content, technology, and supplements into the classroom. The Guide is an excellent tool for syllabus creation and course planning.
  • "Basic Tools of Finance": The "Basic Tools" chapter introduces the essential tools of present value, risk management, and asset valuation -- for students to understand the decisions people make as they participate in financial markets.
  • Streamlined Chapters to Improve Student Understanding: Mankiw eliminated the list of "Chapter Objectives" at the beginning of each chapter in order to focus the reader's attention on the author's concise introduction to each chapter. This material can now be found in the Instructor's Manual and Study Guide.

Best Buy Packages

Other Popular Packages

Choose the textbook packaged with the resources that best meet your course and student needs. Contact your Cengage Learning representative for more information.


Bundle: Text + Study Guide
ISBN-10: 0324383355  | ISBN-13: 9780324383355


Printed Text + CengageNOW, InfoTrac® 1-Semester, Economics in the Movies Instant Access Code
ISBN-10:  0324371276 | ISBN-13:  9780324371277


Table of Contents

PART I. INTRODUCTION.
1. Ten Principles of Economics.
2. Thinking Like an Economist.
3. Interdependence and the Gains from Trade.
PART II. 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 III. 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 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. Five Debates over Macroeconomic Policy.

Products Included

Instructor Supplements

Instructor Supplements

All supplements have been updated in coordination with the main title. Select the main title’s "About the Solution" 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.

Principles of Macroeconomics (with Prepaid Aplia Access Card - 1 Semester and Aplia Edition), 4th  (ISBN-10: 0324360215 | ISBN-13: 9780324360219)


WebTutor™ Advantage on Blackboard® Instant Access Code  (ISBN-10: 032458475X | ISBN-13: 9780324584752)

Improve your grades with WebTutor™ online review and test prep tools.


Transparency Acetates  (ISBN-10: 0324319002 | ISBN-13: 9780324319002)

Created to help instructors build text images into their lectures, full color transparency acetates are available with the 4th edition for use on an overhead projector. They are available to adopters upon request.


WebTutor™ Advantage on Blackboard® Instant Access Code  (ISBN-10: 0324587228 | ISBN-13: 9780324587227)

Improve your grades with WebTutor™ online review and test prep tools.


WebTutor™ Advantage on WebCT™ Instant Access Code  (ISBN-10: 0324587244 | ISBN-13: 9780324587241)

Improve your grades with WebTutor™ online review and test prep tools.


CengageNOW, InfoTrac® 1-Semester, Economics in the Movies Instant Access Code  (ISBN-10: 0324353499 | ISBN-13: 9780324353495)

CengageNOW is an easy-to-use online resource that helps you study in less time to get the grade you want.


Test Bank  (ISBN-10: 0324318944 | ISBN-13: 9780324318944)

Daniel K. Biederman (University of North Dakota), Ken Brown (University of Northern Iowa), Lisa Jepsen (University of Northern Iowa), Bryce Kanago (University of Northern Iowa), and Ken McCormick (University of Northern Iowa) have updated and revised the Test Bank. It consists of more than 230 questions per chapter. Every question has been checked to ensure the accuracy and clarity of the answers and painstakingly revised to address the main text revisions. Included are true/false, multiple-choice, and short answer questions that assess students' critical thinking skills. Easy, medium, and difficult questions outline the process that students must use to arrive at their answers: recall, application, and integration. Questions are organized by text section to help instructors pick and choose their selections with ease.


Premium JoinIn™ on TurningPoint® Content CD-ROM  (ISBN-10: 0324353812 | ISBN-13: 9780324353815)


Instructor's Manual with Solutions Manual  (ISBN-10: 032431907X | ISBN-13: 9780324319071)

Prepared by Linda S. Ghent, Eastern Illinois University, the 4th edition 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 Resource CD-ROM  (ISBN-10: 0324319126 | ISBN-13: 9780324319125)

Included on this two CD set are the key supplements designed to aid instructors: the Class Planning Guide, Instructor's Manual with Solutions Manual and Classroom Activities, Transparency Masters, and the Test Bank in both ExamView® Computerized Testing Software and Microsoft Word are contained on Disc 1. Disc 2 contains all the Mankiw PowerPoint presentations, including the ground-breaking presentation by Ron Cronovich (University of Nevada-Las Vegas), which engages students through interactive examples and applications.


Study Guide  (ISBN-10: 0324319037 | ISBN-13: 9780324319033)

David R. Hakes (University of Northern Iowa) has prepared a study guide that will enhance student success. Each chapter of the study guide includes learning objectives, a description of the chapter's context and purpose, a chapter review, key terms and definitions, advanced critical thinking questions, and helpful hints for understanding difficult concepts. Students can develop their understanding by doing the practice problems and short answer question, then assess their mastery of the key concepts with the self-test, which includes true/false and multiple choice questions.


Macroeconomic Approach Explanation Guide, 4th  (ISBN-10: 0324376618 | ISBN-13: 9780324376616)

In this essay by N. Gregory Mankiw, he explains his well-respected approach to the teaching of macroeconomics that fosters in students a better understanding of economic principles and encourages application of an economic way of thinking.


Supplemental Printed Test Bank, 2007-2008 Edition  (ISBN-10: 0324578172 | ISBN-13: 9780324578171)


Traditional PowerPoint® (available online and on IRCD only)  (ISBN-10: 0324318987 | ISBN-13: 9780324318982)

PowerPoint slides are available for instructors for enhancing their lectures. Available only on the Web site and the IRCD is this comprehensive lecture presentation that professors can use to save valuable time as they prepare for class. This supplement covers all the essential topics presented in each chapter of the book. Graphs, tables, lists, and concepts are developed sequentially, much as one might develop them on a blackboard. Additional examples and applications are used to reinforce major lessons. The slides are crisp, clear, and colorful. Instructors may adapt or add slides to customize their lectures.


Premium PowerPoint®  (ISBN-10: 0324316054 | ISBN-13: 9780324316056)

This presentation, authored by Ron Cronovich (University of Nevada-Las Vegas) and new for the 4th edition, engages students by using interactive examples and applications. Carefully crafted to complement the Mankiw text, Professor Cronovich includes notes and suggestions to assist instructors in their teaching methods.


PowerPoint® Exhibit Slides (available only online)  (ISBN-10: 0324318995 | ISBN-13: 9780324318999)

PowerPoint slides are available for instructors for enhancing their lectures. This exhibit presentation provides instructors with all of the tables and graphs from the main text.


Video  (ISBN-10: 0324173954 | ISBN-13: 9780324173956)

Ken Witty, a talented documentary filmmaker, has produced a video series to illustrate the Ten Principles of Economics introduced in Chapter 1. You can show these videos as an interesting and visually appealing introduction to topics discussed throughout the textbook. The video is available only in streaming video on the text website, www.cengage.com/economics/mankiw.


Supplemental Examview Test Bank, 2007-2008 Edition  (ISBN-10: 0324548044 | ISBN-13: 9780324548044)


Class Planning Guide  (ISBN-10: 0324423381 | ISBN-13: 9780324423389)

The Class Planning Guide simplifies the planning of the principles course and helps the instructor incorporate valuable tools and new activities into the course. Organized according to teaching workflow (plan, manage, teach, reinforce, test, grade, and report), this guide cuts down the time to create the course syllabus.


Student Supplements

Student Supplements

All supplements have been updated in coordination with the main title. Select the main title’s "About the Solution" 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.

Principles of Macroeconomics (with Prepaid Aplia Access Card - 1 Semester and Aplia Edition), 4th  (ISBN-10: 0324360215 | ISBN-13: 9780324360219)


Aplia Instant Access  (ISBN-10: 1111926999 | ISBN-13: 9781111926991)

Succeed in your course with Aplia's interactive learning system--featuring practice problems with immediate feedback and tools developed specifically for PRINCIPLES OF MACROECONOMICS, 4th Edition. Aplia has already helped more than a million students succeed in college classes.


WebTutor™ Advantage on Blackboard® Instant Access Code  (ISBN-10: 032458475X | ISBN-13: 9780324584752)

Improve your grades with WebTutor™ online review and test prep tools.


WebTutor™ Advantage on Blackboard® Instant Access Code  (ISBN-10: 0324587228 | ISBN-13: 9780324587227)

Improve your grades with WebTutor™ online review and test prep tools.


WebTutor™ Advantage on WebCT™ Instant Access Code  (ISBN-10: 0324587244 | ISBN-13: 9780324587241)

Improve your grades with WebTutor™ online review and test prep tools.


CengageNOW, InfoTrac® 1-Semester, Economics in the Movies Instant Access Code  (ISBN-10: 0324353499 | ISBN-13: 9780324353495)

CengageNOW is an easy-to-use online resource that helps you study in less time to get the grade you want.


Study Guide  (ISBN-10: 0324319037 | ISBN-13: 9780324319033)

David R. Hakes (University of Northern Iowa) has prepared a study guide that will enhance student success. Each chapter of the study guide includes learning objectives, a description of the chapter's context and purpose, a chapter review, key terms and definitions, advanced critical thinking questions, and helpful hints for understanding difficult concepts. Students can develop their understanding by doing the practice problems and short answer question, then assess their mastery of the key concepts with the self-test, which includes true/false and multiple choice questions.


Video  (ISBN-10: 0324173954 | ISBN-13: 9780324173956)

Ken Witty, a talented documentary filmmaker, has produced a video series to illustrate the Ten Principles of Economics introduced in Chapter 1 of Mankiw's fifth edition. You can view these videos as an interesting and visually appealing introduction to topics discussed throughout the textbook. The video is available only in streaming video on the text website, www.cengage.com/economics/mankiw.


Bundle: Text + InfoTrac® College Edition  (ISBN-10: 0324343221 | ISBN-13: 9780324343229)


Bundle: Text + Study Guide  (ISBN-10: 0324383355 | ISBN-13: 9780324383355)


Bundle: Text + How to Think Like An Economist  (ISBN-10: 0324383150 | ISBN-13: 9780324383157)


Printed Text + CengageNOW, InfoTrac® 1-Semester, Economics in the Movies Instant Access Code  (ISBN-10: 0324371276 | ISBN-13: 9780324371277)


Meet the Author

About the Author

N. Gregory Mankiw

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

Reviews

Customer Reviews

"The book’s strengths include its ability to explain in plain language the beauty of economic theory; the concise manner in which real world examples are integrated into the text; and, the online assistance that does an effective job in complementing the text."
— Phillip Szmedra, GA Southwestern State University
"I think that the greatest strengths are that it is clear (written in a student-friendly language), relatively concise, and provides a good coverage of what I think students need to know about principles of economics. I think that the style of the text is personable and is easy for students to read without being condescending. In terms of the coverage, as I noted above, we cover the entire text in my one-semester class, and cover just about exactly the entire text – no more, and only a little (two chapters) less."
— Raymond Robertson, Macalester College
"I find navigation process very simple. I am very impressed with Meet your tutor - Master the Learning Objectives section (that is so well planned out and organized). If students are having problems with any of the material and they’re serious about being successful in this class, it is impossible for them not to understand the material after doing suggested activities in this section. "Ask the Author" video clips are interesting and clever. "Economic Applications" section also has good navigation system and can be useful for teachers and students both."
— Juris Pupcenoks, Westminster College