The economy has been an extremely significant topic of discussion in the United States over the last several years. With the country going into a recession and still struggling to recover, economic growth and prosperity is something all Americans are hoping will come, and hopefully sooner than later.
Perhaps it is fitting that one of the top-selling college textbooks today revolves around economics. According to Amazon, the No. 5-selling textbook currently on the market is Principles of Microeconomics. Authored by N. Gregory Mankiw, this book was originally published in February 2011 by South-West College Publishing. It’s the sixth edition in the series.
The 528 pages of text in this book explore microeconomics, a branch of economics that focuses on how individuals and firms use the limited resources at their disposal and the decisions they make when it comes to spending and saving money.
New information in this version includes lots of discussion on the impacts of the American financial crisis. The “Problems and Applications” feature helps students apply the concepts they learn in the book to real-world examples, enabling them to better grasp the material and succeed on assignments and tests in their classes. The “In the News” features throughout the text provide clippings from newspapers on economic news and issues that affect people’s everyday lives. The “FYI” boxes offer additional discussion and information on the history of economic theory and how it applies to modern economics. The “Quick Quizzes” allow students to test themselves on concepts learned from the material and from their actual instructors.
Like most textbooks, Principles of Microeconomics begins with a basic overview of simple concepts and theories and is followed by more in-depth discussions that can be a bit tricky to comprehend at first. However, the author presents the information in a way that all students can understand it no matter what their background or experience is with economics. In most cases, first-year college students don’t have much background on this topic, which makes this book more appealing to them.
N. Gregory Mankiw is an economics professor at Harvard University. Mankiw has taught courses on macroeconomics, microeconomics, statistics, and on the principles of economics. He has written or co-written most of the books in the Principles of Economics series.
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