Rent 9780324236958 | Principles Of Macroeconomics | Mankiw,N. Gregory @knetbooks.com

Summary Table of Contents

PRINCIPLES OF MACROECONOMICS continues to be the most popular and widely used text in the economics classroom. The 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 edit... MORE

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Preface: To the Instructor	p. vii
Preface: To the Student	p. xx
Introduction	p. 1
Ten Principles of Economics	p. 3
How People Make Decisions	p. 4
How People Interact	p. 8
How the Economy as a Whole Works	p. 11
Conclusion	p. 14
Summary	p. 15
Key Concepts	p. 15
Questions for Review	p. 16
Problems and Applications	p. 16
Thinking Like an Economist	p. 19
The Economist as Scientist	p. 20
The Economist as Policy Adviser	p. 28
Why Economists Disagree	p. 32
Let's Get Going	p. 34
Summary	p. 36
Key Concepts	p. 36
Questions for Review	p. 36
Problems and Applications	p. 36
Graphing: A Brief Review	p. 38
Interdependence and the Gains from Trade	p. 47
A Parable for the Modern Economy	p. 48
Comparative Advantage: The Driving Force of Specialization	p. 52
Applications of Comparative Advantage	p. 55
Conclusion	p. 58
Summary	p. 58
Key Concepts	p. 59
Questions for Review	p. 59
Problems and Applications	p. 59
How Markets Work	p. 61
The Market Forces of Supply and Demand	p. 63
Markets and Competition	p. 64
Demand	p. 65
Supply	p. 71
Supply and Demand Together	p. 75
Conclusion: How Prices Allocate Resources	p. 82
Summary	p. 84
Key Concepts	p. 84
Questions for Review	p. 85
Problems and Applications	p. 85
Elasticity and its Application	p. 89
The Elasticity of Demand	p. 90
The Elasticity of Supply	p. 99
Three Applications of Supply, Demand, and Elasticity	p. 103
Conclusion	p. 108
Summary	p. 109
Key Concepts	p. 109
Questions for Review	p. 109
Problems and Applications	p. 110
Supply, Demand, and Government Policies	p. 113
Controls on Prices	p. 114
Taxes	p. 124
Conclusion	p. 131
Summary	p. 131
Key Concepts	p. 132
Questions for Review	p. 132
Problems and Applications	p. 132
Markets and Welfare	p. 135
Consumers, Producers, and the Efficiency of Markets	p. 137
Consumer Surplus	p. 138
Producer Surplus	p. 143
Market Efficiency	p. 147
Conclusion: Market Efficiency and Market Failure	p. 154
Summary	p. 155
Key Concepts	p. 155
Questions for Review	p. 155
Problems and Applications	p. 156
Application: The Costs of Taxation	p. 159
The Deadweight Loss of Taxation	p. 160
The Determinants of the Deadweight Loss	p. 165
Deadweight Loss and Tax Revenue as Taxes Vary	p. 167
Conclusion	p. 172
Summary	p. 173
Key Concept	p. 173
Questions for Review	p. 173
Problems and Applications	p. 173
Application: International Trade	p. 177
The Determinants of Trade	p. 178
The Winners and Losers from Trade	p. 179
The Arguments for Restricting Trade	p. 187
Conclusion	p. 194
Summary	p. 195
Key Concepts	p. 195
Questions for Review	p. 196
Problems and Applications	p. 196
The Data of Macroeconomics	p. 201
Measuring a Nation's Income	p. 203
The Economy's Income and Expenditure	p. 204
The Measurement of Gross Domestic Product	p. 206
The Components of GDP	p. 208
Real versus Nominal GDP	p. 211
Is GDP a Good Measure of Economic Well-Being?	p. 216
Conclusion	p. 220
Summary	p. 221
Key Concepts	p. 221
Questions for Review	p. 221
Problems and Applications	p. 222
Measuring the Cost of Living	p. 225
The Consumer Price Index	p. 226
Correcting Economic Variables for the Effects of Inflation	p. 234
Conclusion	p. 238
Summary	p. 239
Key Concepts	p. 240
Questions for Review	p. 240
Problems and Applications	p. 240
The Real Economy in the Long Run	p. 243
Production and Growth	p. 245
Economic Growth around the World	p. 246
Productivity: Its Role and Determinants	p. 250
Economic Growth and Public Policy	p. 254
Conclusion: The Importance of Long-Run Growth	p. 267
Summary	p. 267
Key Concepts	p. 268
Questions for Review	p. 268
Problems and Applications	p. 268
Saving, Investment, and the Financial System	p. 271
Financial Institutions in the U.S. Economy	p. 272
Saving and Investment in the National Income Accounts	p. 277
The Market for Loanable Funds	p. 280
Conclusion	p. 288
Summary	p. 289
Key Concepts	p. 289
Questions for Review	p. 289
Problems and Applications	p. 290
The Basic Tools of Finance	p. 293
Present Value: Measuring the Time Value of Money	p. 294
Managing Risk	p. 296
Asset Valuation	p. 301
Conclusion	p. 305
Summary	p. 306
Key Concepts	p. 306
Questions for Review	p. 306
Problems and Applications	p. 307
Unemployment	p. 309
Identifying Unemployment	p. 310
Job Search	p. 319
Minimum-Wage Laws	p. 323
Unions and Collective Bargaining	p. 325
The Theory of Efficiency Wages	p. 328
Conclusion	p. 330
Summary	p. 331
Key Concepts	p. 331
Questions for Review	p. 332
Problems and Applications	p. 332
Money and Prices in the Long Run	p. 335
The Monetary System	p. 337
The Meaning of Money	p. 338
The Federal Reserve System	p. 344
Banks and the Money Supply	p. 346
Conclusion	p. 353
Summary	p. 353
Key Concepts	p. 354
Questions for Review	p. 354
Problems and Applications	p. 354
Money Growth and Inflation	p. 357
The Classical Theory of Inflation	p. 358
The Costs of Inflation	p. 371
Conclusion	p. 380
Summary	p. 381
Key Concepts	p. 381
Questions for Review	p. 381
Problems and Applications	p. 382
The Macroeconomics of Open Economies	p. 385
Open-Economy Macroeconomics: Basic Concepts	p. 387
The International Flows of Goods and Capital	p. 388
The Prices for International Transactions: Real and Nominal Exchange Rates	p. 397
A First Theory of Exchange-Rate Determination: Purchasing-Power Parity	p. 400
Conclusion	p. 407
Summary	p. 407
Key Concepts	p. 407
Questions for Review	p. 408
Problems and Applications	p. 408
A Macroeconomic Theory of the Open Economy	p. 411
Supply and Demand for Loanable Funds and for Foreign-Currency Exchange	p. 412
Equilibrium in the Open Economy	p. 416
How Policies and Events Affect an Open Economy	p. 420
Conclusion	p. 428
Summary	p. 429
Key Concepts	p. 429
Questions for Review	p. 430
Problems and Applications	p. 430
Short-Run Economic Fluctuations	p. 433
Aggregate Demand and Aggregate Supply	p. 435
Three Key Facts about Economic Fluctuations	p. 436
Explaining Short-Run Economic Fluctuations	p. 438
The Aggregate-Demand Curve	p. 442
The Aggregate-Supply Curve	p. 446
Two Causes of Economic Fluctuations	p. 456
Conclusion	p. 467
Summary	p. 467
Key Concepts	p. 468
Questions for Review	p. 468
Problems and Applications	p. 469
The Influence of Monetary and Fiscal Policy on Aggregate Demand	p. 473
How Monetary Policy Influences Aggregate Demand	p. 474
How Fiscal Policy Influences Aggregate Demand	p. 483
Using Policy to Stabilize the Economy	p. 489
Conclusion	p. 492
Summary	p. 493
Key Concepts	p. 493
Questions for Review	p. 494
Problems and Applications	p. 494
The Short-Run Trade-Off Between Inflation and Unemployment	p. 497
The Phillips Curve	p. 498
Shifts in the Phillips Curve: The Role of Expectations	p. 501
Shifts in the Phillips Curve: The Role of Supply Shocks	p. 510
The Cost of Reducing Inflation	p. 512
Conclusion	p. 520
Summary	p. 521
Key Concepts	p. 522
Questions for Review	p. 522
Problems and Applications	p. 523
Final Thoughts	p. 527
Five Debates Over Macroeconomic Policy	p. 529
Should Monetary and Fiscal Policymakers Try to Stabilize the Economy?	p. 530
Should Monetary Policy Be Made by Rule Rather Than by Discretion?	p. 532
Should the Central Bank Aim for Zero Inflation?	p. 537
Should the Government Balance Its Budget?	p. 540
Should the Tax Laws Be Reformed to Encourage Saving?	p. 544
Conclusion	p. 547
Summary	p. 548
Questions for Review	p. 549
Problems and Applications	p. 549
Quick Quiz Answers	p. 553
Glossary	p. 565
Index	p. 571
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