Macroeconomics by Mankiw

Book Summary:

This text book explores the principles of macroeconomics with clarity and real-world relevance. It delves into how economies grow over time, focusing on factors that drive productivity and improve living standards. The book examines critical issues like unemployment, inflation, and the policies governments use to stabilize economies. Readers are introduced to business cycles and the interplay between aggregate demand and supply, shedding light on economic fluctuations. The text also covers international trade, exchange rates, and the global financial system, emphasizing their influence on domestic economies. Consumption, investment, and the role of savings and interest rates are analyzed to highlight their economic impact. Key macroeconomic models, such as IS-LM and AD-AS, are presented to explain complex phenomena. The book also evaluates policy debates on government debt, deficits, and long-term economic sustainability. Throughout, Mankiw provides accessible explanations of economic indicators like GDP and CPI. With a balance of theory and practice, the text equips readers to understand and engage with major economic challenges.

ISBN’s: 9781464182891, 9781319106058

Author:

Gregory N. Mankiw