Brief Contents

Preface
Media and Resources

Part I Introduction
Chapter 1 The Science of Macroeconomics
Chapter 2 The Data of Macroeconomics

Part II Classical Theory: The Economy in the Long Run
Chapter 3 National Income: Where It Comes From and Where It Goes
Chapter 4 The Monetary System: What It Is and How It Works
Chapter 5 Inflation: Its Causes, Effects, and Social Costs
Chapter 6 The Open Economy
Chapter 7 Unemployment and the Labour Market

Part III Growth Theory: The Economy in the Very Long Run
Chapter 8 Economic Growth I: Capital Accumulation and Population Growth
Chapter 9 Economic Growth II: Technology, Empirics, and Policy

Part IV Business Cycle Theory: The Economy in the Short Run
Chapter 10 Introduction to Economic Fluctuations
Chapter 11 Aggregate Demand I: Building the IS–LM Model
Chapter 12 Aggregate Demand II: Applying the IS–LM Model
Chapter 13 The Open Economy Revisited: The Mundell–Fleming Model and the Exchange-Rate Regime
Chapter 14 Aggregate Supply and the Short-Run Tradeoff Between Inflation and Unemployment

Part V Topics in Macroeconomic Theory and Policy
Chapter 15 A Dynamic Model of Economic Fluctuations
Chapter 16 Alternative Perspectives on Stabilization Policy
Chapter 17 Government Debt and Budget Deficits
Chapter 18 The Financial System: Opportunities and Dangers
Chapter 19 The Microfoundations of Consumption and Investment

Epilogue What We Know, What We Don’t

Glossary
Index

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A streamlined, focused revision. Always committed to brevity and clarity, Mankiw draws on extensive professional reviews, to keep the new edition focused on the topics most instructors consider essential.

Condensed coverage of consumption and investment. The material on the microeconomic foundations of consumption and investment has been condensed into a single, more accessible chapter.

New topics

• New Coverage in Chapter 2. The Survey of Establishment, Payroll and Hours
• New Coverage in Chapter 6. The Effect on Canada of President Trump’s Tax Changes
• New Coverage in Chapter 7. A new Case Study on Declining Labour Force Participation in the Last Decade, and a New Appendix – Rigorous Analysis of Alternative Policy Responses to Income Inequality
• Three New Topics in Chapter 9. The Role of Culture in Economic Growth, Information and Communication Technology, and Economic Growth with Non-Renewable Resources
• New Topic in Chapter 12. The Curious Case of Negative Interest Rates
• New Topic in Chapter 14. The Flattening of the Short-Run Phillips Curve
• New Coverage in Chapter 16. Which Policy – Monetary or Fiscal – Should be Our First Line of Defense
• New Coverage and New Topic in Chapter 17. Updating of the Discussion of Canadian Budget Deficits and Debt to Include the Views of Alternative Political Parties in the Recent Election, and New Material on Government Infrastructure Investment
• New Topic in Chapter 18. The Stress Tests that Regulators are Using to Evaluate Banks’ Soundness
• New Coverage and New Topic in Chapter 19. Further Analysis of the Secular Stagnation Hypothesis, and Canadian Policy Responses to President Trump’s Changes in US Corporate Taxes

Quick Quiz–A new assessment tool. Each chapter concludes with a Quick Quiz of six multiple-choice questions. Students can use these quizzes to immediately test their understanding of chapter material and to review for exams. Answers are available at the end of each chapter.

Updated data. As always, the data presented in the text are as current as possible.