Part 1 Introduction1. Ten principles of economics2. Thinking like an economist3. Interdependence and the gains from tradePart 2 How Markets Work4. The market forces of supply and demand5. Elasticity and its application6. Supple, demand, and government policiesPart 3 Markets and Welfare7. Consumers, producers, and the efficiency of markets8. Application: The costs of taxation9. Application: International tradePart 4 The Economics of the Public Sector10. Externalities11. Public goods and common resources12. The design of the tax systemPart 5 Firm Behavior and the Organization of Industry13. The costs of production14. Firms in competitive markets15. Monopoly16. Monopolistic competition17. OligopolyPart 6 The Economics of Labor Markets18. The markets for the factors of production19. Earnings and discrimination20. Income inequality and povertyPart 7 Topics for Further Study21. The theory of consumer choice22. Frontiers of microeconomicsPart 8 The Data of Macroeconomics23. Measuring a nation’s income24. Measuring the cost of livingPart 9 The Real Economy in the Long Run25. Production and growth26. Saving, investment, and the financial system27. The basic tools of finance28. Islamic finance29. UnemploymentPart 10 Money and Prices in the Long Run30. The monetary system31. Money growth and inflationPart 11 The Macroeconomics of Open Economies32. Open-economy macroeconomics: Basic concepts33. A macroeconomic theory of the open economyPart 12 Short-Run Economic Fluctuations 34. Aggregate demand and aggregate supply35. The influence of monetary and fiscal policy on aggregate demand36. The short-run trade-off between inflation and unemploymentPart 13 Final Thoughts37. Six debates of macroeconomic policy
N. Gregory Mankiw is Professor of Economics at Harvard University. As a student, he studied economics at Princeton University and MIT. As a teacher, he has taught macroeconomics, microeconomics, statistics and principles of economics. Professor 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, and in more widely accessible forums, such as The New York Times, The Washington Post, The Wall Street Journal, and Fortune. In addition to his teaching, research, and writing, Professor 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. Mohamed H. Rashwan is a Lecturer at the Department of Business Administration at the British University in Egypt. Prior to this he was Assistant Professor of Finance and Economics at Zayed University in the United Arab Emirates. Dr Rashwan is the academic co-ordinator for the Master of Arts (M.A.) in Islamic Economics and Wealth Management provided by the IIWS for the first time in the Middle East and North Africa (MENA) region. Dr Rashwan has taught several courses in the field of finance, Islamic finance and economics at both undergraduate and graduate levels. Dr Rashwan is a regular contributor to academic and policy debates in economics. In addition to his teaching, research and writing, Dr Rashwan has been a consultant in the field of corporate and Islamic finance for more than ten years.