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Principles of Macroeconomics, 8th Edition

  • N. Gregory Mankiw
  • Ronald D. Kneebone
  • Kenneth J McKenzie
  • ISBN-10: 0176872833
  • ISBN-13: 9780176872830
  • 0 Pages | Paperback
  • Previous Editions: 2017, 2014, 2011
  • COPYRIGHT: 2020 Published
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Overview

About the Product

Principles of Macroeconomics, 8th Canadian Edition, is designed to appeal to all students through its breakdown of concepts, focus on big ideas, and student-friendly language. As the market leader its clear, concise and consistent approach grounds students in difficult concepts and links theory to real-world applications, assisting in making the connection from page to action. Students receive a sophisticated understanding of how the economy operates without losing the big ideas. Through various pedagogical features that summarize major concepts and applying economic theory to students’ experiences and lives, this new edition helps students develop the building blocks required to achieve higher levels of understanding.

Features

  • Case Studies apply economic theory to actual events and policies to ensure students achieve full understanding.

  • “In the News” features excerpts from many Canadian and international news articles, including opinion columns written by prominent economists, to show how basic economic theory can be applied with greater understanding.

  • “FYI” features provide additional material “for your information”. Some offer a glimpse into the history of economic thought. Others clarify technical issues or discuss supplementary topics.

  • Quick Quizzes are included after each major section in the text for students to check their comprehension. If students cannot readily answer these quizzes, they should stop and reread the material before continuing.

  • Questions for Review are included at the end of each chapter and cover the chapter’s primary lessons.

  • Quick Check Multiple Choice are end-of-chapter questions in multiple-choice format.

  • Problems and Applications ask students to apply the material they have learned. Some instructors may use these questions for homework assignments or introduce them as a starting point for classroom discussion.

About the Author

N. Gregory Mankiw

N. Gregory Mankiw is Robert M. Beren Professor of Economics at Harvard University. For 14 years he taught EC10 Principles, the most popular course at Harvard. He studied economics at Princeton University and MIT. Prof. Mankiw is a prolific writer and a regular participant in academic and policy debates. His research includes work on price adjustment, consumer behaviour, 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. His work has also appeared in more widely accessible forums, including The New York Times, The Washington Post, The Wall Street Journal, and Fortune. Prof. 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.

Ronald D. Kneebone

Ronald D. Kneebone is Professor in the Department of Economics and The School of Public Policy at the University of Calgary. He received his Ph.D. from McMaster University. Professor Kneebone has taught courses in public finance and in macroeconomics from principles through to the Ph.D. level, and he is a two-time winner of the Faculty of Social Sciences Distinguished Teacher Award at the University of Calgary. His research interests are primarily in the areas of public-sector finances and fiscal federalism, but he has recently worked on the problems of homelessness and poverty reduction. He shared with Ken McKenzie the Douglas Purvis Memorial Prize for the best published work in Canadian public policy in 1999. He is currently the Scientific Director of the Social Policy and Health research division in The School of Public Policy, where he leads a group of researchers investigating issues related to poverty, cognitive and physical disabilities, the organization and financing of health care, and homelessness.

Kenneth J McKenzie

Kenneth J. McKenzie is Professor in the Department of Economics and The School of Public Policy at the University of Calgary. He received his Ph.D. from Queen’s University. Specializing in public economics with an emphasis on taxation and political economy, Professor McKenzie has published extensively in these areas. He is the winner of the 1996 Harry Johnson Prize (with University of Calgary colleague Herb Emery) for the best article in the Canadian Journal of Economics, a two-time winner of the Douglas Purvis Memorial Prize for a published work relating to Canadian public policy (1999 with Ron Kneebone and 2011 with Natalia Sershun), and a Faculty of Social Sciences Distinguished Researcher Award winner at the University of Calgary. He is a former editor of Canadian Public Policy and currently co-editor of the Finances of the Nation feature of the Canadian Tax Journal. Professor McKenzie has taught microeconomics and public economics from the principles to the graduate level, and has received several departmental teaching awards.

Table of Contents

Part One: Introduction
Chapter 1: Ten Principles of Economics
Chapter 2: Thinking Like an Economist
Appendix – Graphing: A Brief Review
Chapter 3: Interdependence and the Gains from Trade

Part 2: Supply and Demand: How Markets Work
Chapter 4: The Market Forces of Supply and Demand
Appendix - The Mathematics of Market Equilibrium

Part 3: The Data of Macroeconomics
Chapter 5: Measuring a Nation’s Income
Chapter 6: Measuring the Cost of Living

Part 4: The Real Economy in the Long Run
Chapter 7: Production and Growth
Chapter 8: Saving, Investment, and the Financial System
Chapter 9: Unemployment and Its Natural Rate

Part 5: Money and Prices in the Long Run
Chapter 10: The Monetary System
Chapter 11: Money Growth and Inflation

Part 6: The Macroeconomics of Open Economies
Chapter 12: Open-Economy Macroeconomics: Basic Concepts
Chapter 13: A Macroeconomic Theory of the Small Open Economy

Part 7: Short-Run Economy Fluctuations
Chapter 14: Aggregate Demand and Aggregate Supply
Chapter 15: The Influence of Monetary Policy on Aggregate Demand
Chapter 16: The Influence of Fiscal Policy on Aggregate Demand
Chapter 17: The Short-Run Tradeoff Between Inflation and Unemployment

Part 8: Final Thoughts
Chapter 18: Five Debates over Macroeconomic Policy

Glossary
Index

New to this edition

  • The chapter called “The Influence of Monetary and Fiscal Policy on Aggregate Demand” is now split into two chapters based on reviewer feedback and demand, chapters 15 and 16 in the new edition.
  • Figures and tables throughout have been updated with recent data from Statistics Canada. These colourful and eye-catching visuals clarify important economics concepts.
  • Updated “In the News”, “FYI” and “Case Studies” focus on current issues related to trade, technology, the environment and income distribution.
  • New “Ask the Experts” Boxes highlight the IGM Economics Experts Panel, showing students when economists are united, when they are divided, and when they simply don’t know what to think.
  • Chapter Openers act as previews that summarize the major concepts to be learned in each chapter and have been updated for the new edition.

Supplements

All supplements have been updated in coordination with the Main title.
Please see Main title page for new to this edition information.

Instructor Supplements

eBook: Principles of Macroeconomics  (ISBN-10: 0176888217 | ISBN-13: 9780176888213)
MindTap Instant Access (12 Months/Multi Term) for Mankiw's Principles of Macroeconomics  (ISBN-10: 0176888128 | ISBN-13: 9780176888121)

MindTap is the digital platform that propels students from memorization to mastery, helping to challenge them, build their confidence, and empower them to be unstoppable. Aplia™ is an application in the MindTap platform that has proven to significantly improve outcomes and elevate thinking by increasing student effort and engagement. Aplia makes it easy to assign frequent online homework assignments and assessments, ensuring students master important concepts. Developed by teachers, Aplia assignments connect concepts to the real world and focus on the unique course challenges faced by students. The MindTap content for Principles of Macroeconomics, Eighth Canadian Edition, was updated and revised by Anupam Das, Mount Royal University. The Aplia problems for Principles of Macroeconomics, Eighth Canadian Edition, were updated and revised by Lucia Vojtassak, University of Calgary. The challenging and interactive activities within Aplia guide students through assignments, moving them from basic knowledge and understanding to application and practice. Look for the Aplia logo in the MindTap app dock to explore all that Aplia has to offer. With Aplia, instructors can do the following: • easily set their course with pre-built, flexible homework assignments; • author questions (single choice, multiple choice, true/false, essay and numeric entry); • create custom assignments and populate them with self-authored—and Aplia-authored—questions; and • inspire students to learn from their mistakes and reward them for effort with the Grade It Now feature that enables three attempts at different versions of a question.

MindTap Printed Access Card (12 Months/Multi Term) for Mankiw's Principles of Macroeconomics  (ISBN-10: 0176888136 | ISBN-13: 9780176888138)

MindTap is the digital platform that propels students from memorization to mastery, helping to challenge them, build their confidence, and empower them to be unstoppable. Aplia™ is an application in the MindTap platform that has proven to significantly improve outcomes and elevate thinking by increasing student effort and engagement. Aplia makes it easy to assign frequent online homework assignments and assessments, ensuring students master important concepts. Developed by teachers, Aplia assignments connect concepts to the real world and focus on the unique course challenges faced by students. The MindTap content for Principles of Macroeconomics, Eighth Canadian Edition, was updated and revised by Anupam Das, Mount Royal University. The Aplia problems for Principles of Macroeconomics, Eighth Canadian Edition, were updated and revised by Lucia Vojtassak, University of Calgary. The challenging and interactive activities within Aplia guide students through assignments, moving them from basic knowledge and understanding to application and practice. Look for the Aplia logo in the MindTap app dock to explore all that Aplia has to offer. With Aplia, instructors can do the following: • easily set their course with pre-built, flexible homework assignments; • author questions (single choice, multiple choice, true/false, essay and numeric entry); • create custom assignments and populate them with self-authored—and Aplia-authored—questions; and • inspire students to learn from their mistakes and reward them for effort with the Grade It Now feature that enables three attempts at different versions of a question.

VitalSource eBook: Principles of Macroeconomics  (ISBN-10: 0176888225 | ISBN-13: 9780176888220)
Nelson Testing, powered by Cognero® Instant Access for Mankiw's Principles of Macroeconomics  (ISBN-10: 0176888209 | ISBN-13: 9780176888206)
Online Only Instructor's Resources for Mankiw's Principles of Macroeconomics  (ISBN-10: 0176888187 | ISBN-13: 9780176888183)
Value Pack: Principles of Macroeconomics, 8th Edition + MindTap Printed Access Card (12 Months/Multi Term)  (ISBN-10: 0176917586 | ISBN-13: 9780176917586)
Value Pack: Principles of Macroeconomics, 8th Edition, Loose-Leaf Version + MindTap Printed Access Card (12 Months/Multi Term)  (ISBN-10: 0176917578 | ISBN-13: 9780176917579)

Student Supplements

eBook: Principles of Macroeconomics  (ISBN-10: 0176888217 | ISBN-13: 9780176888213)
MindTap Instant Access (12 Months/Multi Term) for Mankiw's Principles of Macroeconomics  (ISBN-10: 0176888128 | ISBN-13: 9780176888121)

MindTap is the digital platform that propels students from memorization to mastery, helping to challenge them, build their confidence, and empower them to be unstoppable. Aplia™ is an application in the MindTap platform that has proven to significantly improve outcomes and elevate thinking by increasing student effort and engagement. Aplia makes it easy to assign frequent online homework assignments and assessments, ensuring students master important concepts. Developed by teachers, Aplia assignments connect concepts to the real world and focus on the unique course challenges faced by students. The MindTap content for Principles of Macroeconomics, Eighth Canadian Edition, was updated and revised by Anupam Das, Mount Royal University. The Aplia problems for Principles of Macroeconomics, Eighth Canadian Edition, were updated and revised by Lucia Vojtassak, University of Calgary. The challenging and interactive activities within Aplia guide students through assignments, moving them from basic knowledge and understanding to application and practice. Look for the Aplia logo in the MindTap app dock to explore all that Aplia has to offer. With Aplia, instructors can do the following: • easily set their course with pre-built, flexible homework assignments; • author questions (single choice, multiple choice, true/false, essay and numeric entry); • create custom assignments and populate them with self-authored—and Aplia-authored—questions; and • inspire students to learn from their mistakes and reward them for effort with the Grade It Now feature that enables three attempts at different versions of a question.

MindTap Printed Access Card (12 Months/Multi Term) for Mankiw's Principles of Macroeconomics  (ISBN-10: 0176888136 | ISBN-13: 9780176888138)

MindTap is the digital platform that propels students from memorization to mastery, helping to challenge them, build their confidence, and empower them to be unstoppable. Aplia™ is an application in the MindTap platform that has proven to significantly improve outcomes and elevate thinking by increasing student effort and engagement. Aplia makes it easy to assign frequent online homework assignments and assessments, ensuring students master important concepts. Developed by teachers, Aplia assignments connect concepts to the real world and focus on the unique course challenges faced by students. The MindTap content for Principles of Macroeconomics, Eighth Canadian Edition, was updated and revised by Anupam Das, Mount Royal University. The Aplia problems for Principles of Macroeconomics, Eighth Canadian Edition, were updated and revised by Lucia Vojtassak, University of Calgary. The challenging and interactive activities within Aplia guide students through assignments, moving them from basic knowledge and understanding to application and practice. Look for the Aplia logo in the MindTap app dock to explore all that Aplia has to offer. With Aplia, instructors can do the following: • easily set their course with pre-built, flexible homework assignments; • author questions (single choice, multiple choice, true/false, essay and numeric entry); • create custom assignments and populate them with self-authored—and Aplia-authored—questions; and • inspire students to learn from their mistakes and reward them for effort with the Grade It Now feature that enables three attempts at different versions of a question.

Value Pack: Principles of Macroeconomics, 8th Edition + MindTap Printed Access Card (12 Months/Multi Term)  (ISBN-10: 0176917586 | ISBN-13: 9780176917586)
Value Pack: Principles of Macroeconomics, 8th Edition, Loose-Leaf Version + MindTap Printed Access Card (12 Months/Multi Term)  (ISBN-10: 0176917578 | ISBN-13: 9780176917579)