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Principles of Economics 9th Edition
Principles of Economics Ninth Edition:
Additional ISBNs:
∗ eText ISBN: 0357133803, 978-0357133804, 9780357133804
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Principles of Economics 9th Edition:
Cover
About the Author
Preface: To the Instructor
Brief Contents
Contents
Preface: To the Student
Part I: Introduction
Chapter 1: Ten Principles of Economics
1-1 How People Make Decisions
1-2 How People Interact
1-3 How the Economy as a Whole Works
1-4 Conclusion
Chapter in a Nutshell
Key Concepts
Questions for Review
Problems and Applications
QuickQuiz Answers
Chapter 2: Thinking Like an Economist
2-1 The Economist as Scientist
2-2 The Economist as Policy Adviser
2-3 Why Economists Disagree
2-4 Let’s Get Going
Chapter in a Nutshell
Key Concepts
Questions for Review
Problems and Applications
QuickQuiz Answers
Appendix: Graphing: A Brief Review
Chapter 3: Interdependence and the Gains from Trade
3-1 A Parable for the Modern Economy
3-2 Comparative Advantage: The Driving Force of Specialization
3-3 Applications of Comparative Advantage
3-4 Conclusion
Chapter in a Nutshell
Key Concepts
Questions for Review
Problems and Applications
QuickQuiz Answers
Part II: How Markets Work
Chapter 4: The Market Forces of Supply and Demand
4-1 Markets and Competition
4-2 Demand
4-3 Supply
4-4 Supply and Demand Together
4-5 Conclusion: How Prices Allocate Resources
Chapter in a Nutshell
Key Concepts
Questions for Review
Problems and Applications
QuickQuiz Answers
Chapter 5: Elasticity and Its Application
5-1 The Elasticity of Demand
5-2 The Elasticity of Supply
5-3 Three Applications of Supply, Demand, and Elasticity
5-4 Conclusion
Chapter in a Nutshell
Key Concepts
Questions for Review
Problems and Applications
QuickQuiz Answers
Chapter 6: Supply, Demand, and Government Policies
6-1 Controls on Prices
6-2 Taxes
6-3 Conclusion
Chapter in a Nutshell
Key Concepts
Questions for Review
Problems and Applications
QuickQuiz Answers
Part III: Markets and Welfare
Chapter 7: Consumers, Producers, and the Efficiency of Markets
7-1 Consumer Surplus
7-2 Producer Surplus
7-3 Market Efficiency
7-4 Conclusion: Market Efficiency and Market Failure
Chapter in a Nutshell
Key Concepts
Questions for Review
Problems and Applications
QuickQuiz Answers
Chapter 8: Application: The Costs of Taxation
8-1 The Deadweight Loss of Taxation
8-2 The Determinants of the Deadweight Loss
8-3 Deadweight Loss and Tax Revenue as Taxes Vary
8-4 Conclusion
Chapter in a Nutshell
Key Concept
Questions for Review
Problems and Applications
QuickQuiz Answers
Chapter 9: Application: International Trade
9-1 The Determinants of Trade
9-2 The Winners and Losers from Trade
9-3 The Arguments for Restricting Trade
9-4 Conclusion
Chapter in a Nutshell
Key Concepts
Questions for Review
Problems and Applications
QuickQuiz Answers
Part IV: The Economics of the Public Sector
Chapter 10: Externalities
10-1 Externalities and Market Inefficiency
10-2 Public Policies toward Externalities
10-3 Private Solutions to Externalities
10-4 Conclusion
Chapter in a Nutshell
Key Concepts
Questions for Review
Problems and Applications
QuickQuiz Answers
Chapter 11: Public Goods and Common Resources
11-1 The Different Kinds of Goods
11-2 Public Goods
11-3 Common Resources
11-4 Conclusion: The Importance of Property Rights
Chapter in a Nutshell
Key Concepts
Questions for Review
Problems and Applications
QuickQuiz Answers
Chapter 12: The Design of the Tax System
12-1 An Overview of U.S. Taxation
12-2 Taxes and Efficiency
12-3 Taxes and Equity
12-4 Conclusion: The Trade-Off between Equity and Efficiency
Chapter in a Nutshell
Key Concepts
Questions for Review
Problems and Applications
QuickQuiz Answers
Part V: Firm Behavior and the Organization of Industry
Chapter 13: The Costs of Production
13-1 What Are Costs?
13-2 Production and Costs
13-3 The Various Measures of Cost
13-4 Costs in the Short Run and in the Long Run
13-5 Conclusion
Chapter in a Nutshell
Key Concepts
Questions for Review
Problems and Applications
QuickQuiz Answers
Chapter 14: Firms in Competitive Markets
14-1 What Is a Competitive Market?
14-2 Profit Maximization and the Competitive Firm’s Supply Curve
14-3 The Supply Curve in a Competitive Market
14-4 Conclusion: Behind the Supply Curve
Chapter in a Nutshell
Key Concepts
Questions for Review
Problems and Applications
QuickQuiz Answers
Chapter 15: Monopoly
15-1 Why Monopolies Arise
15-2 How Monopolies Make Production and Pricing Decisions
15-3 The Welfare Cost of Monopolies
15-4 Price Discrimination
15-5 Public Policy toward Monopolies
15-6 Conclusion: The Prevalence of Monopolies
Chapter in a Nutshell
Key Concepts
Questions for Review
Problems and Applications
QuickQuiz Answers
Chapter 16: Monopolistic Competition
16-1 Between Monopoly and Perfect Competition
16-2 Competition with Differentiated Products
16-3 Advertising
16-4 Conclusion
Chapter in a Nutshell
Key Concepts
Questions for Review
Problems and Applications
QuickQuiz Answers
Chapter 17: Oligopoly
17-1 Markets with Only a Few Sellers
17-2 The Economics of Cooperation
17-3 Public Policy toward Oligopolies
17-4 Conclusion
Chapter in a Nutshell
Key Concepts
Questions for Review
Problems and Applications
QuickQuiz Answers
Part VI: The Economics of Labor Markets
Chapter 18: The Markets for the Factors of Production
18-1 The Demand for Labor
18-2 The Supply of Labor
18-3 Equilibrium in the Labor Market
18-4 The Other Factors of Production: Land and Capital
18-5 Conclusion
Chapter in a Nutshell
Key Concepts
Questions for Review
Problems and Applications
QuickQuiz Answers
Chapter 19: Earnings and Discrimination
19-1 Some Determinants of Equilibrium Wages
19-2 The Economics of Discrimination
19-3 Conclusion
Chapter in a Nutshell
Key Concepts
Questions for Review
Problems and Applications
QuickQuiz Answers
Chapter 20: Income Inequality and Poverty
20-1 Measuring Inequality
20-2 The Political Philosophy of Redistributing Income
20-3 Policies to Reduce Poverty
20-4 Conclusion
Chapter in a Nutshell
Key Concepts
Questions for Review
Problems and Applications
QuickQuiz Answers
Part VII: Topics for Further Study
Chapter 21: The Theory of Consumer Choice
21-1 The Budget Constraint: What a Consumer Can Afford
21-2 Preferences: What a Consumer Wants
21-3 Optimization: What a Consumer Chooses
21-4 Three Applications
21-5 Conclusion: Do People Really Think This Way?
Chapter in a Nutshell
Key Concepts
Questions for Review
Problems and Applications
QuickQuiz Answers
Chapter 22: Frontiers of Microeconomics
22-1 Asymmetric Information
22-2 Political Economy
22-3 Behavioral Economics
22-4 Conclusion
Chapter in a Nutshell
Key Concepts
Questions for Review
Problems and Applications
QuickQuiz Answers
Part VIII: The Data of Macroeconomics
Chapter 23: Measuring a Nation’s Income
23-1 The Economy’s Income and Expenditure
23-2 The Measurement of GDP
23-3 The Components of GDP
23-4 Real versus Nominal GDP
23-5 Is GDP a Good Measure of Economic Well-Being?
23-6 Conclusion
Chapter in a Nutshell
Key Concepts
Questions for Review
Problems and Applications
QuickQuiz Answers
Chapter 24: Measuring the Cost of Living
24-1 The Consumer Price Index
24-2 Correcting Economic Variables for the Effects of Inflation
24-3 Conclusion
Chapter in a Nutshell
Key Concepts
Questions for Review
Problems and Applications
QuickQuiz Answers
Part IX: The Real Economy in the Long Run
Chapter 25: Production and Growth
25-1 Economic Growth around the World
25-2 Productivity: Its Role and Determinants
25-3 Economic Growth and Public Policy
25-4 Conclusion: The Importance of Long-Run Growth
Chapter in a Nutshell
Key Concepts
Questions for Review
Problems and Applications
QuickQuiz Answers
Chapter 26: Saving, Investment, and the Financial System
26-1 Financial Institutions in the U.S. Economy
26-2 Saving and Investment in the National Income Accounts
26-3 The Market for Loanable Funds
26-4 Conclusion
Chapter in a Nutshell
Key Concepts
Questions for Review
Problems and Applications
QuickQuiz Answers
Chapter 27: The Basic Tools of Finance
27-1 Present Value: Measuring the Time Value of Money
27-2 Managing Risk
27-3 Asset Valuation
27-4 Conclusion
Chapter in a Nutshell
Key Concepts
Questions for Review
Problems and Applications
QuickQuiz Answers
Chapter 28: Unemployment
28-1 Identifying Unemployment
28-2 Job Search
28-3 Minimum-Wage Laws
28-4 Unions and Collective Bargaining
28-5 The Theory of Efficiency Wages
28-6 Conclusion
Chapter in a Nutshell
Key Concepts
Questions for Review
Problems and Applications
QuickQuiz Answers
Part X: Money and Prices in the Long Run
Chapter 29: The Monetary System
29-1 The Meaning of Money
29-2 The Federal Reserve System
29-3 Banks and the Money Supply
29-4 The Fed’s Tools of Monetary Control
29-5 Conclusion
Chapter in a Nutshell
Key Concepts
Questions for Review
Problems and Applications
QuickQuiz Answers
Chapter 30: Money Growth and Inflation
30-1 The Classical Theory of Inflation
30-2 The Costs of Inflation
30-3 Conclusion
Chapter in a Nutshell
Key Concepts
Questions for Review
Problems and Applications
QuickQuiz Answers
Part XI: The Macroeconomics of Open Economies
Chapter 31: Open-Economy Macroeconomics: Basic Concepts
31-1 The International Flows of Goods and Capital
31-2 The Prices for International Transactions: Real and Nominal Exchange Rates
31-3 A First Theory of Exchange-Rate Determination: Purchasing-Power Parity
31-4 Conclusion
Chapter in a Nutshell
Key Concepts
Questions for Review
Problems and Applications
QuickQuiz Answers
Chapter 32: A Macroeconomic Theory of the Open Economy
32-1 Supply and Demand for Loanable Funds and for Foreign-Currency Exchange
32-2 Equilibrium in the Open Economy
32-3 How Policies and Events Affect an Open Economy
32-4 Conclusion
Chapter in a Nutshell
Key Concepts
Questions for Review
Problems and Applications
QuickQuiz Answers
Part XII: Short-Run Economic Fluctuations
Chapter 33: Aggregate Demand and Aggregate Supply
33-1 Three Key Facts about Economic Fluctuations
33-2 Explaining Short-Run Economic Fluctuations
33-3 The Aggregate-Demand Curve
33-4 The Aggregate-Supply Curve
33-5 Two Causes of Economic Fluctuations
33-6 Conclusion
Chapter in a Nutshell
Key Concepts
Questions for Review
Problems and Applications
QuickQuiz Answers
Chapter 34: The Influence of Monetary and Fiscal Policy on Aggregate Demand
34-1 How Monetary Policy Influences Aggregate Demand
34-2 How Fiscal Policy Influences Aggregate Demand
34-3 Using Policy to Stabilize the Economy
34-4 Conclusion
Chapter in a Nutshell
Key Concepts
Questions for Review
Problems and Applications
QuickQuiz Answers
Chapter 35: The Short-Run Trade-Off between Inflation and Unemployment
35-1 The Phillips Curve
35-2 Shifts in the Phillips Curve: The Role of Expectations
35-3 Shifts in the Phillips Curve: The Role of Supply Shocks
35-4 The Cost of Reducing Inflation
35-5 Conclusion
Chapter in a Nutshell
Key Concepts
Questions for Review
Problems and Applications
QuickQuiz Answers
Part XIII: Final Thoughts
Chapter 36: Six Debates over Macroeconomic Policy
36-1 Should Monetary and Fiscal Policymakers Try to Stabilize the Economy?
36-2 Should the Government Fight Recessions with Spending Hikes Rather Than Tax Cuts?
36-3 Should Monetary Policy Be Made by Rule Rather Than by Discretion?
36-4 Should the Central Bank Aim for Zero Inflation?
36-5 Should the Government Balance Its Budget?
36-6 Should the Tax Laws Be Reformed to Encourage Saving?
36-7 Conclusion
Chapter in a Nutshell
Questions for Review
Problems and Applications
QuickQuiz Answers
Glossary
Index
N. Gregory Mankiw
N. Gregory Mankiw is the Robert M. Beren Professor of Economics at Harvard University. As a student, he studied economics at Princeton University and MIT. As a teacher, he has taught macroeconomics, microeconomics, statistics, and principles of economics. He even spent one summer long ago as a sailing instructor on Long Beach Island.
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, such as “The New York Times”, “The Washington Post”, and “The Wall Street Journal.”
He has written two popular textbooks–the intermediate-level textbook Macroeconomics (Worth Publishers) and the introductory textbook Principles of Economics (Cengage Learning). Principles of Economics has sold over two million copies and has been translated into twenty languages.
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.
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