Summary The #1 best-selling intermediate macroeconomics book, Mankiw's masterful text covers the field as accessibly and concisely as possible, in a way that emphasizes the relevance of both macroeconomics's classical roots and its current ...
practice. The new edition has been updated to deal with our ever-changing world, including the economic slowdown of 2001--associated at first with the end of the stock market boom and then with the terrorist attack of September 11--which has once again put business cycle theory at center stage. Features -Balances coverage of short-run and long-run issues, giving students a richer introduction to public policy. -Integrates Keynesian and classical ideas to familiarize students with the importance of each approach. -Uses a variety of simple models to clarify complex concepts, because no one model can shed light on all facets of the field. -Incorporates real-world data and events to show students the relevance of the material. New to This Edition New Organization--The chapters on economic growth are now separated into their own part, both to highlight the importance of this topic and to allow full development of the classical model. The new organization first presents the classical theory of income, prices, trade, and unemployment. The classical model is the starting point for the growth theory and business cycle theory that follow. Updated Coverage--The new edition incorporates coverage of a number of recent events, including: -The economic impact of the World Trade Center and Pentagon attacks -The 2001 Bush tax cut -Recent rate cuts by the Fed -The temporary U.S. budget surplus -The end of the longest "boom" -The collapse of the dot coms -The introduction of the Euro -The continuing recession in Japan New and Revised Case Studies, including: -The Secrets to Happiness (showing how people's reported life satisfaction is tied to inflation and unemployment) -Information Technology and the New Economy -Cutting Taxes to Stimulate the Economy -The U.S. Slowdown of 2001 -The Remarkable Stability of the 1990s -The Fiscal Future: Good News and Bad News -Case Study on Credit Crunches New and Revised FYI Boxes, including: -International Flows of Goods and Capital: An Example -The Liquidity Trap -How Precise Are Estimates of the Natural Rate of Unemployment? New Internet-based problems--found within the end-of-chapter problem sets, these require students to do online research. [예스24 제공]