Economics: European Special Edition with Global Economic Watc

This Special edition of Mankiw and Taylor’s Economics provides highly topical and in-depth coverage of the global financial crisis of 2007-2009.

Two new chapters are included: one on the causes of the recession and one on the remedies available to resolve it. Using a rich array of real-life examples, these new chapters provide students with up to date, real world insights into economic crises.

Alongside these two new chapters, several of the existing chapters have been carefully revised and updated to clarify and enhance their content, and further expand students’ knowledge of economic theory. All of the features that made the original edition so successful and well-regarded have been retained including the classic Ten Principles approach to economics – introduced in Chapter One and then referred to throughout the book, the distinctly European flavour including reference to UK and European institutions and policy, familiar terminology and cultural references, predominant use of the euro in discussions and UK and European case studies and press extracts.

Features

Two new chapters on the causes and remedies of the 2007-2009 global financial crisis
Three existing chapters have been carefully revised and brought up to date; Chapter 12 The design of the tax system has been updated with current tax policy and now includes a section on comparative tax systems (e.g. South Africa, Germany) to provide broader international coverage; Chapter 33 Aggregate demand and aggregate supply has been updated with recent changes in macroeconomy and Chapter 34 The influence of monetary and fiscal policy on aggregate demand now includes extended coverage of policy scrutiny, extraordinary measures and recession budget deficit
Revised online content reflecting the changes made in the book
All copies of Economics: Sepcial edition come with a free access card to Cengage Learning''s Global Economic Watch web site, a powerful online portal that includes a real-time database of videos, podcasts, hundreds of articles and a detailed overview of the events leading up to the global economic crisis.

PART 1 INTRODUCTION
1. Ten Principles of Economics
2. Thinking Like an Economist
3. Interdependence and the Gains from Trade

PART 2 SUPPLY AND DEMAND I: HOW MARKETS WORK
4. The Market Forces of Supply and Demand
5. Elasticity and Its Application
6. Supply, Demand, and Government Policies

PART 3 SUPPLY AND DEMAND II: MARKETS AND WELFARE
7. Consumers, Producers, and the Efficiency of Markets
8. Application: The Costs of Taxation
9. Application: International Trade

PART 4 THE ECONOMICS OF THE PUBLIC SECTOR
10. Externalities
11. Public Goods and Common Resources
12. The Design of the Tax System

PART 5 FIRM BEHAVIOUR AND THE ORGANISATION OF INDUSTRY
13. The Costs of Production
14. Firms in Competitive Markets
15. Monopoly
16. Oligopoly
17. Monopolistic Competition

PART 6 THE ECONOMICS OF LABOUR MARKETS
18. The Markets for the Factors of Production
19. Earnings and Discrimination
20. Income Inequality and Poverty


PART 7 TOPICS FOR FURTHER STUDY
21. The Theory of Consumer Choice
22. Frontiers of Microeconomics

PART 8 THE DATA OF MACROECONOMICS
23. Measuring a Nation's Income
24. Measuring the Cost of Living

PART 9 THE REAL ECONOMY IN THE LONG RUN

25. Production and Growth
26. Saving, Investment, and the Financial System
27. The Basic Tools of Finance
28. Unemployment

PART 10 MONEY AND PRICES IN THE LONG RUN
29. The Monetary System
30. Money Growth and Inflation

PART 11 THE MACROECONOMICS OF OPEN ECONOMIES

31. Open-Economy Macroeconomics: Basic Concepts
32. A Macroeconomic Theory of the Open Economy

PART 12 SHORT-RUN ECONOMIC FLUCTUATIONS
33. Aggregate Demand and Aggregate Supply
34. The Influence of Monetary and Fiscal Policy on Aggregate Demand
35. The Short-Run Tradeoff between Inflation and Unemployment
36. Causes of the 2007/9 Financial Crisis
37. Remedies of the 2007/9 Financial Crisis

PART 13 EUROPEAN MONETARY UNION
38. Common Currency Areas and European Monetary Union

PART 14 FINAL THOUGHTS
39. Five Debates Over Macroeconomic Policy


N. Gregory Mankiw
N. Gregory Mankiw is Professor of Economics at Harvard University. 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 behavior, 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 including 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. In addition, he maintains a very popular blog for students of economics at www.gregmankiw.blogspot.com.

Mark P Taylor
Mark P. Taylor is Professor of Economics at the University of Warwick. He obtained his first degree in philosophy, politics and economics from Oxford University. He then worked as a foreign exchange dealer in London for two years while simultaneously studying part-time for a master¿s degree in economics at London University, from where he also holds a doctorate in economics. 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 also worked for several years as a senior economist at the International Monetary Fund and before that at the Bank of England. 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. Professor Taylor lives (with his wife and three children and his three dogs named Byron, Shelley and Aphra) near Kenilworth, Warwickshire (where he collects clocks and keeps bees).