Nelson Higher Education

Higher Education

Brief Principles of Macroeconomics, 7th Edition

  • N. Gregory Mankiw
  • ISBN-10: 1285165926
  • ISBN-13: 9781285165929
  • 464 Pages | Paperback
  • Previous Editions: 2012, 2009, 2007
  • COPYRIGHT: 2015 Published
Request a Copy for Review

Overview

About the Product

BRIEF PRINCIPLES OF MACROECONOMICS, Seventh Edition, continues to be the most popular and widely-used text in the economics classroom. A text by a superb writer and economist that stresses the most important concepts without overwhelming students with an excess of detail. A thorough update has been made to keep all chapters fresh and relevant with current Economic coverage. MindTap, the cutting edge online environment is available with new enhancements that include Graph Builder and Adaptive Test Prep that allow students extra preparation in graph drawing and test review. The seventh edition premier ancillary package is the most extensive in the industry, using a team of instructors/preparers that have been with the project since the first edition.

Features

  • Aplia is the most successful and widely used homework solution in the Economics market, with over 1 billion answers entered. Online interactive problem sets, analyses, tutorials, experiments, and critical-thinking exercises give students hands-on application without adding to instructors' workload.

  • 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.

Reviews

"One of the reasons why we adopted the Mankiw text was because of its relevant concepts that students could really relate to. I would say to continue with this trend, and also be sure to use examples that relate to the current economic conditions that make sense to a beginner economics student."
— Christine Wathen, Middlesex County College

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.

Table of Contents

Part I: INTRODUCTION.
1. Ten Principles of Economics.
2. Thinking Like an Economist.
3 .Interdependence and the Gains from Trade.
Part II: HOW MARKETS WORK.
4.The Market Forces of Supply and Demand.
PART VIII: THE DATA OF MACROECONOMICS.
5. Measuring a Nation's Income.
6. Measuring the Cost of Living.
Part IX: THE REAL ECONOMY IN THE LONG RUN.
7. Production and Growth.
8. Saving, Investment, and the Financial System.
9. The Basic Tools of Finance.
10. Unemployment and Its Natural Rate.
Part X: MONEY AND PRICES IN THE LONG RUN.
11. The Monetary System.
12. Money Growth and Inflation.
Part XI: THE MACROECONOMICS OF OPEN ECONOMIES.
13. Open-Economy Macroeconomics: Basic Concepts.
14. A Macroeconomic Theory of the Open Economy.
Part XII: SHORT-RUN ECONOMIC FLUCTUATIONS.
15. Aggregate Demand and Aggregate Supply.
16. The Influence of Monetary and Fiscal Policy on Aggregate Demand.
17. The Short-Run Tradeoff between Inflation and Unemployment.
Part XIII: FINAL THOUGHTS.
18. Six Debates over Macroeconomic Policy.
Glossary.
Index.

New to this edition

  • MindTap, the most advanced online environment for principles focuses students within a learning path while allowing instructors to create the course they want using publisher provided, instructor created or third party materials. Adaptive Test Prep, a new enhancement, improves student confidence before exams by providing 3,800 test bank type questions and 1,700 Quick Coach Videos to ensure student success. Graph Builder allows students to draw graphs from scratch, right in the interactive book. 25 new Graph Builder exercises are available in Summer 2016.
  • Aplia, the best-selling online homework solution, has been enhanced for the seventh edition, including an optimized mobile experience, allowing students to access content on their mobile devices anywhere and anytime and closer alignment of Aplia and the textbook with End-of-Chapter text questions.
  • The Mankiw 7e interactive eReader experience is so much more than moving words from the printed page to digital screen. It is designed to give students the same online experience that they are used to in their personal internet use. In addition to full search functionality, text highlighting and note-taking and smart-links to previous chapters or relevant figures, the Mankiw 7e eReader features a variety of media assets specifically designed to address the challenges students and instructors have told us impede learning.
  • ConceptClips, embedded throughout the interactive eReader, address the challenge of understanding economics terminology that students face when first introduced to the subject matter. Developed by Mike Brandl of The Ohio State University, these vocabulary animations provide students with a memorable auditory and visual representation of the important terminology for the course.
  • New Mankiw Roadmap videos feature author, Greg Mankiw, introducing the chapter content by providing real world context and motivation around what the students will be learning in the upcoming chapter. These videos answer the "Why?" before getting into the "What?", providing students with a better understanding of the importance and rationale for the chapter content and helping them to understand how economics relates to what they experience in their lives and see in the world around them.
  • New Problem Walk-Throughs further explain difficult concepts and homework roadblocks by walking students through solving a problem from start to finish. Students want to work through problem assignments without breaking concentration and when it's convenient for them, which is not always during the office hours when instructors can be available for extra help.
  • New "Quick Check Multiple Choice" questions have been added to the seventh edition, providing students a comprehensive self-review between the initial "Questions for Review" and their deeper dive into the concepts in the "Problems and Applications." The "Quick Check Multiple Choice" and "Problems and Applications" are being built directly into the Aplia product parallel to the way they appear in the text, and are fully gradable.
  • The seventh edition contains extensively updated coverage of relevant, current Economic topics. A few of the chapters with the most comprehensive updates include: 12 – The Design of the Tax System, 20 – Income Inequality and Poverty, 23 – Measuring a Nation's Income, 24 – Measuring the Cost of Living, 25 – Production and Growth, & 28 – Unemployment.
  • New "In the News" and "FYI" boxes have been added to the seventh 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

Instructor's Manual with Solutions Manual, Brief  (ISBN-10: 1285776615 | ISBN-13: 9781285776613)

Prepared by Sarah Cosgrove, University of Massachusetts - Dartmouth, the Seventh edition of the Macroeconomics 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, Quick Check Multiple Choice, and Problems and Applications found in the text. The Instructor's Manual with Solutions Manual is also available online. It is intended for use with Mankiw BRIEF PRINCIPLES OF MACROECONOMICS, Seventh Edition.

Joinin™ Turning Point  (ISBN-10: 1285864840 | ISBN-13: 9781285864846)

JoinIn™ is a response system that allows you to transform your classroom and assess your students' progress with instant in-class quizzes and polls. Our exclusive agreement to offer TurningPoint software lets you pose book-specific questions and display students' answers seamlessly within the Microsoft PowerPoint® slides of you own lecture, in conjunction with the "clicker" hardware of your choice. Enhance how your students interact with you, your lecture, and each other. For college and university adopters only. Contact your local Cengage Learning representative to learn more.

Discovery Guide for Mankiw's Principles of Economics, 7th  (ISBN-10: 1285856171 | ISBN-13: 9781285856179)

The Discovery Guide for Mankiw's Principles of Economics, 7th Edition, is a guide to everything you need to know about the Seventh edition. This critical tool demonstrates the features and substance added to the Seventh edition in chapter content, as well as the unique supplementary package that makes the Mankiw experience superior. From exploring the benefits of Cognero® and the Test Bank to the pedagogical value of the Premium PowerPoint® Presentations and careful structure of the Student Study Guide and online tools, this guide is your quick reference for what is new to this edition.

The Guide to the Mankiw Approach for Principles of Economics, 6th  (ISBN-10: 0538478799 | ISBN-13: 9780538478793)

In this essay by N. Gregory Mankiw, he explains his well-respected approach to the teaching of macroeconomics that fosters in students a better understanding of economic principles and encourages application of an economic way of thinking.

BBC Economic News Videos DVD  (ISBN-10: 0538480114 | ISBN-13: 9780538480116)

BBC News Video Segments deliver the "real world" right to students' desktops, giving students a context for how economic topics affect world and national events as well as their own daily lives, and helping them learn material by applying it to current events.

Cengage Testing, powered by Cognero® Instant Access  (ISBN-10: 1285980190 | ISBN-13: 9781285980195)
Study Guide for Mankiw's Brief Principles of Macroeconomics  (ISBN-10: 1285864263 | ISBN-13: 9781285864266)

David R. Hakes (University of Northern Iowa) has prepared a study guide that will enhance student success. Each chapter of the study guide includes learning objectives, a description of the chapter's context and purpose, a chapter review, key terms and definitions, advanced critical-thinking questions, and helpful hints for understanding difficult concepts. Students can develop their understanding of the material by doing the practice problems and answering the short-answer questions. They can then assess their mastery of the key concepts with the self-test, which includes true/false and multiple-choice questions.

CourseMate, 1 term (6 months) Instant Access, Brief  (ISBN-10: 1285853466 | ISBN-13: 9781285853468)

Cengage Learning's Economics CourseMate brings course concepts to life with interactive learning, study, and exam preparation tools that support the printed textbook. Watch student comprehension soar as your class works with the printed textbook and the textbook-specific website. Economics CourseMate goes beyond the book to deliver what you need!

MindTap Economics, 1 term (6 months) Instant Access for Mankiw's Brief Principles of Macroeconomics  (ISBN-10: 1285853490 | ISBN-13: 9781285853499)

MindTap is a new personal learning experience that combines all your digital assets – readings, multimedia, activities, and assessments-- into a singular learning path to improve student outcomes. Demands on instructor's time are many. Students are spread thin. All the research says that technology can be effective, but at times fitting it in can be more of a burden than a utility. Further, current offerings rarely work together. So many devices, so many Learning Management Systems, so many content providers, but none working in harmony. It's because of this, as a leading partner in education, it is our duty to help define the next category – the Personal Learning Experience. It picks up where other technology falls short. The Seventh Edition MindTap includes new personalization options within the Reader and Learning Path, including Graphing at a Glance, ConceptClips, whiteboard worked problems, etc. With MindTap, learning gets personal. Mankiw's BRIEF PRINCIPLES OF MACROECONOMICS, Seventh Edition, in the MindTap reader is a seamless online reading experience, ideal for viewing on any device, anytime, anywhere.

Aplia with Cengage Learning Write Experience 2.0 Powered by MyAccess, 1 term (6 months) Instant Access  (ISBN-10: 1285855736 | ISBN-13: 9781285855738)

Aplia with Write Experience for Mankiw's Principles of Economics, Seventh Edition, combines access to two of Cengage Learning's best assessment solutions. Aplia is the best-selling online homework solution including: online interactive problem sets, analyses, tutorials, experiments, and critical-thinking exercises give students hands-on application without adding to instructors' workload. Based on discovery learning, Aplia requires students to take an active role in the learning process--helping them improve their economic understanding and ability to relate to the economic concepts presented. Instructors can assign homework that is automatically graded and recorded. Mankiw's Aplia product will be available with many brand new enhancements for the Seventh Edition. Write Experience is a technology product that allows you to assess written communication skills without adding to your workload. Instructors in all areas have told us it's important that students can write effectively in order to communicate and think critically. Through an exclusive partnership with a technology company, Cengage Learning's Write Experience allows you to do just that! This new product utilizes artificial intelligence to not only score student writing instantly and accurately, but also provide students with detailed revision goals and feedback on their writing to help them improve. Write Experience is the first product designed and created specifically for the higher education market through an exclusive agreement with McCann Associates, and powered by e-Write IntelliMetric Within™. IntelliMetric is the gold standard for automated scoring of writing and is used to score the Graduate Management Admissions Test® (GMAT®) analytical writing assessment. Better Writing. Better Outcomes. Write Experience. Visit www.cengage.com/writeexperience to learn more.

LMS Integrated for MindTap Economics, 1 term (6 months) Instant Access  (ISBN-10: 1305095863 | ISBN-13: 9781305095861)

This access code will provide your students with seamless access to their MindTap Economics resources from within your campus Learning Management System. Students will be prompted to enter this access code the first time that they click on a link in your course that includes Cengage content.

LMS Integrated for Aplia, 1 term Instant Access for Mankiw's Brief Principles of Macroeconomics  (ISBN-10: 1305096088 | ISBN-13: 9781305096080)

Cengage Learning provides Learning Management System (LMS) integration with our MindLinks service. This service is designed to deliver an optimal user experience through the learning management system (LMS) already used by the institution--facilitating learning retention and contributing to better learner outcomes. Our collaboration with LMS industry leaders helps drive advanced features like gradebook integration, while the fluid pedagogical design contributes to more teachable moments.

LMS Integrated for Aplia with Cengage Learning Write Experience 2.0 Powered by MyAccess, 1 term Instant Access for Mankiw's Brief Principles of Macroeconomics  (ISBN-10: 1305096207 | ISBN-13: 9781305096202)

Cengage Learning provides Learning Management System (LMS) integration with our MindLinks service. This service is designed to deliver an optimal user experience through the learning management system (LMS) already used by the institution--facilitating learning retention and contributing to better learner outcomes. Our collaboration with LMS industry leaders helps drive advanced features like gradebook integration, while the fluid pedagogical design contributes to more teachable moments.

Student Supplements

Study Guide for Mankiw's Brief Principles of Macroeconomics  (ISBN-10: 1285864263 | ISBN-13: 9781285864266)

David R. Hakes (University of Northern Iowa) has prepared a study guide that will enhance your success. Each chapter of the study guide includes learning objectives, a description of the chapter's context and purpose, a chapter review, key terms and definitions, advanced critical-thinking questions, and helpful hints for understanding difficult concepts. You can develop your understanding of the material by doing the practice problems and answering the short-answer questions. Then you can assess your mastery of the key concepts with the self-test, which includes true/false and multiple-choice questions.

CourseMate, 1 term (6 months) Instant Access, Brief  (ISBN-10: 1285853466 | ISBN-13: 9781285853468)

Cengage Learning's Economics CourseMate brings course concepts to life with interactive learning, study, and exam preparation tools that support the printed textbook. Your comprehension will soar as you work with the printed textbook and the textbook-specific website. Economics CourseMate goes beyond the book to deliver what you need!

MindTap Economics, 1 term (6 months) Instant Access for Mankiw's Brief Principles of Macroeconomics  (ISBN-10: 1285853490 | ISBN-13: 9781285853499)

MindTap Economics for Mankiw's Brief Principles of Macroeconomics, 7th Edition provides you with the tools you need to better manage your limited time -- you can complete assignments whenever and wherever you are ready to learn with course material specially customized for you by your instructor and streamlined in one proven, easy-to-use interface. Video Roadmaps introduce chapter content within a real-world context, helping you understand how economics relates to what you experience in your day-to-day life and hear in the news. New ConceptClip videos help you understand economics terminology, which can be overwhelming when first introduced. Graphing at a Glance video tutorials bring graphs to life, allowing you to see graphs physically move along the axes. Auto-graded assignments give you practice in hands-on application and offer immediate feedback. Finally, Problem Walk-Through videos help you "get" challenging concepts by walking you through problems similar to those in the text, from start to finish. With these resources and an array of tools and apps -- from note taking to flashcards -- you'll get a true understanding of course concepts, helping you to achieve better grades and setting the groundwork for your future courses. Access to this product is valid for 6 months of usage.

Aplia with Cengage Learning Write Experience 2.0 Powered by MyAccess, 1 term (6 months) Instant Access  (ISBN-10: 1285855736 | ISBN-13: 9781285855738)

One million+ students, one billion answers In just 10 years, more than one billion answers have been submitted through Aplia, the premier online assignment solution. Millions of students use Aplia to better prepare for class and for their exams. Join them today! Know what’s important Aplia assignments mean “no surprises”—with an at-a-glance view of current assignments organized by due date, you always know what’s due, and when. Discover real-world relevance Aplia ties your lessons into real-world applications so you get a bigger, better picture of how you’ll use your education in your future workplace. Master the content Automatic grading and immediate step-by-step feedback helps you master content the right way the first time. Student Testimonial: “I was very engaged; the content in Aplia is useful. The study tools and materials in Aplia most definitely help me feel more prepared. I understood more than I would have otherwise.” - Tia Student, Glendale Community College CTA: Ask your instructor about Aplia for this course. www.cengage.com/aplia

LMS Integrated for MindTap Economics, 1 term (6 months) Instant Access  (ISBN-10: 1305095863 | ISBN-13: 9781305095861)

This access code will provide you with seamless access to your MindTap Economics resources from within your campus Learning Management System. You will be prompted to enter this access code the first time that you click on a link in your course that includes Cengage content.

LMS Integrated for Aplia, 1 term Instant Access for Mankiw's Brief Principles of Macroeconomics  (ISBN-10: 1305096088 | ISBN-13: 9781305096080)

One million+ students, one billion answers In just 10 years, more than one billion answers have been submitted through Aplia, the premier online assignment solution. Millions of students use Aplia to better prepare for class and for their exams. Join them today! Know what’s important Aplia assignments mean “no surprises”—with an at-a-glance view of current assignments organized by due date, you always know what’s due, and when. Discover real-world relevance Aplia ties your lessons into real-world applications so you get a bigger, better picture of how you’ll use your education in your future workplace. Master the content Automatic grading and immediate step-by-step feedback helps you master content the right way the first time. Student Testimonial: “I was very engaged; the content in Aplia is useful. The study tools and materials in Aplia most definitely help me feel more prepared. I understood more than I would have otherwise.” - Tia Student, Glendale Community College CTA: Ask your instructor about Aplia for this course. www.cengage.com/aplia

LMS Integrated for Aplia with Cengage Learning Write Experience 2.0 Powered by MyAccess, 1 term Instant Access for Mankiw's Brief Principles of Macroeconomics  (ISBN-10: 1305096207 | ISBN-13: 9781305096202)

One million+ students, one billion answers In just 10 years, more than one billion answers have been submitted through Aplia, the premier online assignment solution. Millions of students use Aplia to better prepare for class and for their exams. Join them today! Know what’s important Aplia assignments mean “no surprises”—with an at-a-glance view of current assignments organized by due date, you always know what’s due, and when. Discover real-world relevance Aplia ties your lessons into real-world applications so you get a bigger, better picture of how you’ll use your education in your future workplace. Master the content Automatic grading and immediate step-by-step feedback helps you master content the right way the first time. Student Testimonial: “I was very engaged; the content in Aplia is useful. The study tools and materials in Aplia most definitely help me feel more prepared. I understood more than I would have otherwise.” - Tia Student, Glendale Community College CTA: Ask your instructor about Aplia for this course. www.cengage.com/aplia

LMS Integrated for CourseMate, 1 term Instant Access  (ISBN-10: 1305095952 | ISBN-13: 9781305095953)