Higher Education

Principles of Microeconomics, 5th Edition

  • N. Gregory Mankiw Harvard University
  • ISBN-10: 0324589980  |  ISBN-13: 9780324589986
  • 544 Pages
  • Previous Editions: 2007, 2004, 2001
  • © 2009 | Published
  • College Bookstore Wholesale Price = $253.00
  • Newer Edition Available
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About

Overview

PRINCIPLES OF MICROECONOMICS continues to be the most popular and widely used text in the economics classroom. The fifth edition features a strong revision of content in all 36 chapters while maintaining the clear, accessible writing style and precise presentation that are the hallmarks of this highly respected author. Dozens of new applications emphasize the real-world relevance of economics for today's students through interesting news articles, realistic case studies, and engaging problems. The new edition also features an expanded instructor's resource package designed to assist in course planning and classroom presentation, as well as full integration of content with Aplia. "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 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.
Glossary.
Index.

What's New

  • Numerous 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?" and "Maybe You Should Ask an Egghead."
  • 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.

Learning Resource Bundles

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

Printed Text + Aplia Instant Access + Global Economic Crisis Online Instant Access Code

ISBN-10: 1111997349 | ISBN-13: 9781111997342

List Price = $349.95  | CengageBrain Price = $349.95  | College Bookstore Wholesale Price = $263.00

This Bundle Includes:

  • Principles of Microeconomics
    List Price = $336.95  | CengageBrain Price = $336.95  | College Bookstore Wholesale Price = $253.00
  • Aplia™, 1 term Instant Access
    List Price = $126.00  | CengageBrain Price = $126.00  | College Bookstore Wholesale Price = $126.00
  • Global Economic Crisis Online Instant Access Code
    List Price = $31.00  | CengageBrain Price = $31.00  | College Bookstore Wholesale Price = $31.00


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

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.

WebTutor™ on WebCT™ Instant Access Code  (ISBN-10: 0324780737 | ISBN-13: 9780324780734)

Jump-start your course with customizable, rich, text-specific content within your Course Management System!

List Price = $53.00  | College Bookstore Wholesale Price = $53.00

WebTutor™ on Blackboard® Instant Access Code  (ISBN-10: 0324780729 | ISBN-13: 9780324780727)

Jump-start your course with customizable, rich, text-specific content within your Course Management System!

List Price = $53.00  | College Bookstore Wholesale Price = $53.00

Economics for Life: 101 Lessons You Can Use Every Day!  (ISBN-10: 0538757884 | ISBN-13: 9780538757881)

ECONOMICS FOR LIFE 3e is a book about real-world applications for economics. In addition to applications, the text contains critiques of common economic fallacies, paradoxical economic results, and solutions to economic mysteries that are sure to interest students. Tied through its Appendices to all South-Western principles texts, Economics for Life helps students use economic concepts to better understand the world around them. The book serves as a valuable resource for delivering a more applications-based Principles (or Economics 101) course and can be bundled at no additional charge.

List Price = $29.95  | CengageBrain Price = $29.95  | College Bookstore Wholesale Price = $22.50

Global Economic Watch GEC Resource Center Printed Access Card  (ISBN-10: 1439040753 | ISBN-13: 9781439040751)

The current global economic crisis leaves more and more questions unanswered every day and presents "one of the most teachable moments of the century." South-Western delivers the solution. The Global Economic Crisis Resource Center is an online one-stop shopping location that provides educators with current news, journal articles, videos, podcasts, PowerPoint® slides, test questions, and much more.

List Price = $31.00  | College Bookstore Wholesale Price = $23.25

Bundle: Text + Global Economic Crisis (GEC) Printed Access Card  (ISBN-10: 1439051712 | ISBN-13: 9781439051719)

List Price = $366.95  | College Bookstore Wholesale Price = $276.25

Aplia  (ISBN-10: 0324784856 | ISBN-13: 9780324784855)

List Price = $126.00  | College Bookstore Wholesale Price = $94.50

Student Supplements

Aplia™, 1 term Instant Access  (ISBN-10: 1111926492 | ISBN-13: 9781111926496)

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

List Price = $126.00  | CengageBrain Price = $126.00  | College Bookstore Wholesale Price = $126.00

Aplia, Global Economic Crisis Resource Center, Global Economic Crisis - Global Issues in Context & Community Server Instant Access Code  (ISBN-10: 1111958823 | ISBN-13: 9781111958824)

Succeed in your course with Aplia's interactive learning system--featuring practice problems with immediate feedback and tools developed specifically for PRINCIPLES OF MICROECONOMICS, 5th Edition, including step-by-step explanations that help you improve your reasoning and skills, interactive assignments that help you understand difficult or counterintuitive concepts, and more. Aplia has already helped more than a million students succeed in college classes.

List Price = $126.00  | CengageBrain Price = $126.00  | College Bookstore Wholesale Price = $126.00

WebTutor™ on WebCT™ Instant Access Code  (ISBN-10: 0324780737 | ISBN-13: 9780324780734)

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 = $53.00  | College Bookstore Wholesale Price = $53.00

WebTutor™ on Blackboard® Instant Access Code  (ISBN-10: 0324780729 | ISBN-13: 9780324780727)

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 = $53.00  | College Bookstore Wholesale Price = $53.00

Economics for Life: 101 Lessons You Can Use Every Day!  (ISBN-10: 0538757884 | ISBN-13: 9780538757881)

ECONOMICS FOR LIFE 3e is a book about real-world applications for economics. In addition to applications, the text contains critiques of common economic fallacies, paradoxical economic results, and solutions to economic mysteries that are sure to interest students. Tied through its Appendices to all South-Western principles texts, Economics for Life helps students use economic concepts to better understand the world around them. The book serves as a valuable resource for delivering a more applications-based Principles (or Economics 101) course and can be bundled at no additional charge.

List Price = $29.95  | CengageBrain Price = $29.95  | College Bookstore Wholesale Price = $22.50

Global Economic Watch GEC Resource Center Printed Access Card  (ISBN-10: 1439040753 | ISBN-13: 9781439040751)

The current global economic crisis leaves more and more questions unanswered every day and presents "one of the most teachable moments of the century." South-Western delivers the solution. The Global Economic Crisis Resource Center is an online one-stop shopping location that provides you with current news, journal articles, videos, podcasts, PowerPoint® slides, test questions, and much more.

List Price = $31.00  | College Bookstore Wholesale Price = $23.25

Bundle: Text + Global Economic Crisis (GEC) Printed Access Card  (ISBN-10: 1439051712 | ISBN-13: 9781439051719)

List Price = $366.95  | College Bookstore Wholesale Price = $276.25

Aplia  (ISBN-10: 0324784856 | ISBN-13: 9780324784855)

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 = $126.00  | College Bookstore Wholesale Price = $94.50

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.