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Now firmly established as one of the leading economics principles texts in the UK and Europe, this exciting new fourth edition of Economics by N. Gregory Mankiw (Harvard University) and Mark P. Taylor (Washington University), has been fully updated. There are new sections covering microeconomic topics and concepts in more depth, whilst at the same time retaining the book´s reputation for clarity, authority and real world relevance.

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Part 1 Introduction to economics
1 What is economics?
2 Thinking like an economist
Part 2: Supply and demand: How markets work
3 The market forces of supply and demand
4 Elasticity and its applications
5 Background to demand: Consumer choices
6 Background to supply: Firms in competitive markets
Part 3, Markets, efficiency and welfare
7 Consumers, producers and the efficiency of markets
8 Supply, demand and government policies
Part 4 The economics of the public sector
9 The tax system
Part 5 Inefficient market allocations
10 Public goods, common resources and merit goods
11 Market failure and externalities
12 Information and behavioural economics
Part 6 Firm behaviour and market structures
13 Firms´ production decisions
14 Market structures I: Monopoly
15 Market structures II: Monopolistic competition
16 Market structures III: Oligopoly
Part 7 Factor markets
17 The economics offactor markets
PAart 8 Inequality
18 Income inequality and poverty
Part 9 Trade19 Interdependence and the gains from trade

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Mankiw, N.
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. He even spent one summer long ago as a sailing instructor on Long Beach Island. Professor Mankiw is a prolific writer and a regular participant in academic and policy debates. His work has been published in scholarly journals such as the American Economic Review, Journal of Political Economy, and Quarterly Journal of Economics, and in more popular forums such as The New York Times, The Financial Times, The Wall Street Journal, and Fortune. He is also author of the best-selling intermediate-level textbook Macroeconomics (Worth Publishing). 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 Educational Testing Service (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.

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