Overview

This best-selling introductory economics text explains the essential principles of economics in a straightforward and engaging style. This fully updated new edition covers key developments including sustainability economics, tariffs, globalization, digitization and the impact of technology and AI. Known for its accessible approach and focus on active learning, this edition contains new critical thinking questions, relatable real-world examples and topical discussion of news stories to help students understand why economics matters. The Mankiw & Taylor franchise is also available as a MindTap digital resource (purchased separately). This flexible online learning solution provides students with all the tools they need to succeed including an interactive eBook, engaging multimedia, practice questions, assessment materials, revision aids and analytics to help you track their progress.

Full Product Details

Author:   N. Mankiw (Harvard University) ,  Mark Taylor (Dean of Olin Business School, Washington University, St. Louis)
Publisher:   Cengage Learning EMEA
Imprint:   Cengage Learning EMEA
Edition:   7th edition
Dimensions:   Width: 19.50cm , Height: 26.00cm , Length: 3.10cm
Weight:   1.500kg
ISBN:  

9781805030492

ISBN 10:   1805030493
Pages:   832
Publication Date:   10 February 2026
Audience:   College/higher education ,  Tertiary & Higher Education
Format:   Paperback
Publisher's Status:   Active
Availability:   In Print  
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Table of Contents

Part 1: Introduction to economics 1. What is economics? 2. Thinking like an economist Part 2: The theory of competitive markets 3. The market forces of supply and demand 4. Background to demand: Consumer choices 5. Background to supply: The costs of production of firms 6. Background to supply: Firms in competitive markets 7. Consumers, producers and the efficiency of markets Part 3: Interventions in markets 8. Supply, demand and government policies 9. Public goods, common resources and merit goods 10. Market failure and externalities Part 4: Firm behaviour and market structures 11. Market structures I: Monopoly 12. Market structures II: Monopolistic competition 13. Market structures III: Oligopoly 14. Market structures IV: Contestable markets Part 5: Factor markets 15. The economics of factor markets Part 6: Inequality 16. Income inequality and poverty Part 7: Trade 17. Interdependence and the gains from trade Part 8: Heterodox economics 18. Information and behavioural economics 19. Heterodox theories in economics Part 9: The data of macroeconomics 20. Measuring a nation’s well-being and the price level Part 10: The real economy in the long run 21. Production and growth 22. Unemployment and the labour market Part 11: Long-run macroeconomics 23. Saving, investment and the financial system 24. The monetary system 25. Open-economy macroeconomics Part 12: Short-run economic fluctuations 26. Business cycles 27. Keynesian economics and IS-LM analysis 28. Aggregate demand and aggregate supply 29. The influence of monetary and fiscal policy on aggregate demand 30. The short-run trade-off between inflation and unemployment 31. Supply-side policies Part 13: International macroeconomics 32. Economic shocks 33. The European Union 34. Sustainability economics

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Author Information

N. Gregory Mankiw is the Robert M. Beren Professor of Economics at Harvard University. As a student, he studied economics at Princeton University and the Massachusetts Institute of Technology. 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. In addition to his teaching, research and writing, Professor Mankiw has been a research associate of the National Bureau of Economic Research and an advisor to the Federal Reserve Banks of Boston and New York and the Congressional Budget Office. From 2003 to 2005, he served as chairman of the US President’s Council of Economic Advisors and was an advisor to presidential candidate Mitt Romney during the 2012 US presidential election. Mark P. Taylor is the Donald Danforth, Jr Distinguished Professor of Finance at the Olin Business School at Washington University in St Louis, USA. He was previously Dean of the Olin Business School and, before that, Dean and Professor of Finance and Economics at of Warwick Business School at the University of Warwick, UK. He obtained his first degree in philosophy, politics and economics from Oxford University and a Master’s and Doctoral degrees in economics and finance from London University.. Professor Taylor has taught economics at various universities (including Warwick, Oxford, Marseille and New York), at various levels (from principles courses to advanced graduate and MBA courses) and in various fields (including macroeconomics, microeconomics and econometrics). He has also worked as a senior economist at the International Monetary Fund and at the Bank of England and as a managing director at BlackRock, the world’s largest financial asset manager, where he ran a global investment fund based on macroeconomic analysis. His work has been extensively published in scholarly journals, such as the Journal of Political Economy and the Economic Journal, and he is today one of the most highly cited economists in the world in economic research. In addition, Professor Taylor has acted as an advisor to the International Monetary Fund, the World Bank, the Bank of England, the European Commission and to senior members of the UK government. He is a research fellow of the Centre for Economic Policy Research, a member of council of the Royal Economic Society and a fellow of both the Royal Statistical Society and the Royal Society of Arts.

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