With its clear and engaging writing style, Principles of Economics (Sixth Edition) continues to be one of the most popular books on economics available today. Principles of Economics, 7th Edition: Economics Books N. Gregory Mankiw is Robert M. Beren Professor of Economics at Harvard University. This is a digital copy of a book that was preserved for generations on library shelves Whether a book is in the public domain may vary country to country.
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N. Gregory Mankiw is professor of economics at Harvard University. As a stu- . In writing this book, I benefited from the input of many talented people. Indeed. “Mankiw & Taylor's Economics is a superb book for all students approaching this subject for the first time. The book is both intuitive, with plenty of examples. N. Gregory Mankiw has books on Goodreads with ratings. N. Gregory Mankiw's most popular book is Principles of Economics.
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Or departments could offer some intro-level courses, without prerequisites, that aren't the standard course. One would probably need to specify that these alternative courses would not be a good preparation for intermediate micro and intermediate macro to follow. But carving out and preserving some room for experimentation at the intro level seems potentially useful.
Surprisingly, no. The first edition of Paul Samuelson's great text, published in and pages long, did not introduce supply and demand curves until page That is in part because Samuelson, writing in the shadow of the Great Depression, began his book by emphasizing Keynesian macroeconomics. As the book was revised over many editions, standard microeconomic tools became more prominent.
But even today, many introductory courses do not develop the framework of supply and demand as fully as they should. In particular, welfare economics is sometimes not given sufficient coverage.
The basic tools of welfare economics are consumer surplus and producer surplus, which are natural extensions of supply and demand. My understanding is that if you go back before that textbook, it was common for intro economics courses to have almost no graphs at all--whether supply-and-demand or otherwise.
Following Samuelson, it was also standard to do macro before micro, which seemed based on the assumption that macro had more of a connection to current events and would be an easier way to hook intro students into the subject.
I confess that I'm more dubious than Mankiw when it comes to bringing consumer and producer surplus into the intro class.
In my experience, triangular areas under curves are hard for a lot of intro students, and I'm not sure the payoff is very high for the intro student--which is most of them--who aren't ever going to take another econ class.
In the great struggle over what to include and what to leave out, I'd put less emphasis on on this topic than Mankiw--and I wouldn't quarrel with an instructor who decided just to leave it out. Including Too Much? Unfortunately, I never met him as he passed away just before I joined the faculty. But I have heard one of his aphorisms. As economists, we teach our students about scarcity. As instructors and textbook authors, we should remember that student time is a scarce resource.
We must avoid making our courses encyclopedic.
That means taking out all of the easily ignored details and stressing the big ideas. The main goal of the introductory course is not to produce future economists but to produce well-informed citizens. Any topic that a person does not need to understand to intelligently follow the news is a plausible candidate for omission.
One risk when simplifying matters for students is oversimplification, losing too much of the nuance that economists bring to an issue.
But given the difficulty some students have learning basic economics, it is a bigger risk to overcomplicate the analysis early in the course. Every reader has a pet topic, or a pet example, or a pet caveat, that would only take another page.