Principles of Macroeconomics

by N. Gregory Mankiw

PRINCIPLES OF MACROECONOMICS continues to be the most popular and widely used text in economics classrooms today. The fifth edition features a strong revision of content in all 36 chapters while maintaining the clear, accessible writing style and precise presentation that are the hallmark of this highly respected author. Dozens of new applications emphasize the real-world relevance of economics for today's students through interesting news articles, realistic case studies, and engaging problems. The new edition also features an expanded instructor's resource package designed to assist in course planning and classroom presentation, as well as full integration of content with Aplia. "I have tried to put myself in the position of someone seeing economics for the first time. My goal is to emphasize the material that students should and do find interesting about the study of the economy."--N. Gregory Mankiw.

Genres: Economics, Textbooks, Nonfiction, Business, Reference, Finance, School

584 pages, Paperback

First published January 1, 1997

About the author

Nicholas Gregory Mankiw is an American macroeconomist who is currently the Robert M. Beren Professor of Economics at Harvard University. Mankiw is best known in academia for his work on New Keynesian economics.
Mankiw has written widely on economics and economic policy. As of February 2020, the RePEc overall ranking based on academic publications, citations, and related metrics put him as the 45th most influential economist in the world, out of nearly 50,000 registered authors. He was the 11th most cited economist and the 9th most productive research economist as measured by the h-index. In addition, Mankiw is the author of several best-selling textbooks, writes a popular blog, and has since 2007 written approximately monthly for the Sunday business section of The New York Times. According to the Open Syllabus Project, Mankiw is the most frequently cited author on college syllabi for economics courses.
Mankiw is a conservative, and has been an economic adviser to several Republican politicians. From 2003 to 2005, Mankiw was Chairman of the Council of Economic Advisers under President George W. Bush. In 2006, he became an economic adviser to Mitt Romney, and worked with Romney during his presidential campaigns in 2008 and 2012. In October 2019, he announced that he was no longer a Republican because of his discontent with President Donald Trump and the Republican Party

Reviews

[Josiah Harmon · Rating 5 out of 5]

I am lowkey a massive nerd for including my economics textbook on Goodreads, but this was genuinely super interesting. If you are even remotely interested in something related to business or just generally interested in how the economy works, then this book is for you. It pairs super well with Prof. D's lectures, so I learned a lot.

[Katastrofik Come · Rating 5 out of 5]

Skip the micro part and just jump to the macro section. But if you haven't, it's a no brainer to read the first half first.

Sumptuosly readable (its mankiw after all) and suitable for newbies in macroeconomics.

[Ashley]

Read for an MBA Macroeconomics class.
MBA 6410

[Mirek Kukla · Rating 3 out of 5]

In short: not quite as great as "Principles of Microeconomics", but still well-written, informative, and very accessible.

For better or for worse, "Principles of Macroeconomics contains not a shred of math. While this might make for a terrible course textbook, it makes for great leisure reading (well - if you condition on the fact that you are, after all, reading an econ textbook). Mankiw aims to build your intuition, and altogether, he does a pretty good job.

You learn about how GDP is measured, and more interestingly, about why gross domestic product is an interesting thing to measure in the first place. You'll read about unemployment, federal debt, inflation, and how they relate. You'll discover why short-term economic fluctuations occur, and how they can be affected by fiscal and monetary policy. Hell, you'll finally learn what fiscal and monetary policy are.

It's all pretty straightforward, with the exception of one crappy chapter on open-economy macroeconomics. I understand that this is a pretty complex topic, but the treatment here is confusing as hell. As soon as you get to Mankiw's treatment of "net capital outflow," run like hell and hit the internets instead.

To conclude: if you're at all interested in fleshing out your economic intuition... this isn't the place to start. Pick up Charles Wheelan's Naked Economics instead. That book is awesome. And then - but only then - check out "Principles of Macroeconomics."

[Adam R · Rating 3 out of 5]

The first 3/4s of the book were simple enough, easy to get through. The last quarter of the book got really dense, but I think the drag of a semester added to that. Overall it is a good basic look at macroeconomics.

[Tatiana · Rating 5 out of 5]

Well, it was my text-book in the university and I liked it pretty much. It's easy-to-read and has a lot of true-to-live interesting examples and articles

[Gabomur · Rating 5 out of 5]

Awesome book, learned a lot

[André · Rating 5 out of 5]

Mankiw’s Principles of Macroeconomics is a superb introduction to the world of macroeconomics, offering clarity and insight for students and enthusiasts alike. The book is masterfully structured, easily guiding readers through complex concepts, and distilling core economic principles into digestible lessons.

One of the key strengths of Mankiw’s text is its focus on the "Ten Principles of Economics," which serve as a foundation for understanding how economies function. The book also emphasizes supply and demand, national income accounting, and the determinants of long-term economic growth, offering critical insights into real-world applications. Mankiw breaks down the differences between short-run economic fluctuations and long-term growth models, including an in-depth analysis of inflation, unemployment, and interest rates.

The sections on monetary and fiscal policy are particularly illuminating, providing readers with an understanding of how governments can manage economic stability. The book's global perspective on international trade and finance is timely and relevant.

Mankiw's approachable writing style and real-world examples make the material engaging, even for beginners. Whether for academic study or personal growth, Principles of Macroeconomics is an indispensable resource, simplifying complex ideas without sacrificing depth or rigor.

[Michael · Rating 3 out of 5]

Good maco book, some equations were a bit difficult, which made it harder to read, but the content is good and a must for anyone interested in anything remotely related to finance or economics. I would look to furthering macro education in another book after this.

[louis · Rating 5 out of 5]

https://louis030195.notion.site/Princ...

[shanini panini]

ok perhaps I’m not done with the actual book yet, but in my mind I’m done with this class

[Yair · Rating 5 out of 5]

Much better than the fifth edition but unfortunately less concise than the seventh. Still a personal fav!

[Chris · Rating 4 out of 5]

I read a whole macroeconomics textbook (mostly) and, gosh darn it, I am counting it toward my goodreads goal.

[Cat · Rating 5 out of 5]

Did I finish this book or did this book finish me? This was exorbitantly expensive but so worth the price.

[fish cat · Rating 4 out of 5]

better than my professor’s lectures

[Aparna Mathew · Rating 4 out of 5]

realized I had three chapters remaining after last semester — finished them. What a trip

[Barack Liu · Rating 4 out of 5]

032-Principles of Macroeconomics-Gregory Mankiw-Economics-1998
Barack

——The cost of something is what we have to give up to get it.

" Principles of Macroeconomics " first published in 1998, a total of 2 volumes. The first volume is the "Microeconomics Volume" and the next volume is the "Macroeconomics Volume". "Macroeconomics Volume" mainly introduces the contents of national income, financial system, currency and inflation, open economy, economic fluctuations, and so on.

Gregory Mankiw was born in New Jersey, the USA in 1958. In 1987, at the age of 29, he was officially hired as a professor of economics at Harvard University. Representative works: "Economic Principles" and so on.

Microeconomics studies the economic behavior decisions of individuals and companies. Macroeconomics studies the collection of people and enterprises, that is, the decision of the country's economic behavior.

Terms such as GDP (Gross Domestic Product), GNP (Gross National Product), CPI (Consumer Price Index), and PPI (Producer Price Index) are often heard. The National Bureau of Statistics also regularly releases these data.

Understanding their literal meaning is simple, but it is not so intuitive to understand deeply what these numbers and their changes mean to the national economy.

We also often hear the expression "troika", which refers to investment, consumption, and export. Modern economics generally believes that the driving force of economic growth comes from these three engines.

This is why we have seen that the country has been introducing relevant policies to attract investment in the past few decades, and has been talking about stimulating domestic consumer demand in recent years. Besides, part of the reason for Sino-US trade friction lies in the trade surplus caused by the relatively large Chinese exports to the United States.

If we start with the Third Plenary Session of the Eleventh Central Committee in December 1978 (the third plenary meeting of a certain Central Committee), reform and opening-up have lasted for nearly 42 years. One of the cores of reform and opening up has pushed China's economy from closed to open.

The policies adopted by China are generally conservative and stable. So until today, our opening is still limited. There are still monopolies or higher barriers to entry in many areas. We need to continue to study the open policies of other countries and the impact that these policies may have when they move to their home countries.

2020 is a special year, and January is a very special month. Before New Year's Day, many investors had great confidence in the stock market in 2020. But the new coronary pneumonia that followed has caused panic in the market.

The last actual situation is that the stock market opened lower and moved higher from February 03 to February 7. The Shanghai Composite Index closed at 2746 points on February 03 and 2875 points at close on February 07.

How important is the central bank's role in stabilizing market liquidity of 1.7 trillion yuan? Will this cause significant inflation or other adverse effects? Understanding these questions requires a certain understanding of macroeconomics.

I participated in the spring recruitment and autumn recruitment for the first time in 2019. It’s for the first time that I experienced what it was like to find a job. Every time we reach the graduation season, we often hear the fearful statement of "the hardest graduation season in history". So what exactly affects employment? What kind of unemployment rate is relatively healthy?

I think economics is not limited to students majoring in economics. If economics, psychology, and other disciplines are included in the nine-year compulsory education supplementary courses, it may also be beneficial to personal growth.

15/03/25
20/05/08

[Rishabh · Rating 4 out of 5]

The sole reason to read this book i can give readers is that it will help you understand the world in which you live. There are so many questions about the economy that might spark a person curiosity. Why are apartments so hard to find in New York? Why do airlines charges less for a round trip ticket if the traveller stays over a Saturday night? Why is Johnny Depp paid so much to star in movies? Why do some countries have higher rates of inflation while others have stable prices? Why are jobs easy to find in some years and hard to find in others? There are just a few of the questions that this book will help you answer.

[SAJID KHAN · Rating 4 out of 5]

Mr. Mankiw has produced something long overdue: an accessible introduction to modern economics. By writing more in the style of a magazine than a stodgy textbook and explaining even complex ideas in an intuitive, concise way, he will leave few students bored or bewildered ... Most refreshing, though, is the book's even-handedness. Mr Mankiw seems to revel in setting out how different schools of thought have contributed to economists' current state of knowledge.

[Crwth]

I read parts of this book when I took the course, three or four years ago, as I started yet another undergraduate degree. Now that I'm no longer able to pursue that, I'm finding my interest in economics is still piqued, and thus I'm revisiting this text, along with my others, front-to-back, to keep the knowledge fresh and to learn the material that wasn't covered by my instructors at the time.

[Olga · Rating 4 out of 5]

An absolute must-read for everyone who hasn't had a maroeconomics ourse in their undergrad. The book offers a simple and concise explanation of the main concepts line interest and exchange rates, monetary and fisal policies etc. After reading this, you'll be able to identify all the bullshit that the FT authors are selling you :)

[David E]

A very thorough book. The author has a clear picture of what is going on in the world's economy. The author gives clear, relevent examples of the subjects discussed in the book. Though "weighty" in spots, I recommend this book to someone wanting more information for a class in Economics. Just read it slowly - and allow time for the material to soak in, Enjoy!

[Dennis Geoffroy · Rating 4 out of 5]

Read for a class, is a pretty solid textbook, gives a whole new perspective on the world. The early chapters are easy to follow and gold, the later chapters get a little bit more complex and hard to follow.

[ingrid ott · Rating 5 out of 5]

Entertaining and informative

This book was for my macroeconomics class. I actually found it to be really informative and easy to understand. The examples were also really cool, and helped to bring the content to life.

[Mike · Rating 4 out of 5]

Its sort of strange rating a text book - but it was quite good. I mean I enjoyed reading it.

[Steph · Rating 4 out of 5]

reading this for class

[Judith · Rating 3 out of 5]

I had access to an online version through Aplia and I read that too. The writing style is excellent and the layouts are nice, but I would have liked more explanation of the formulas.

[Slav · Rating 5 out of 5]

Quite good explanations :)

[Ray · Rating 2 out of 5]

LOL read it in summer in 1 week...For course book for uni, it was not a bad read.

[Liberty · Rating 4 out of 5]

More or less better than the microeconomics. But not in depth. Of course!