Economics

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 Warwick Business School at the University of Warwick, UK. He obtained his first degree in philosophy, politics and economics from Oxford University and his Master’s and Doctoral degrees in economics and finance from London University. Professor Taylor has taught economics and finance at various universities (including Oxford, New York, Bordeaux and Aix-Marseille) and at various levels (including principles courses and advanced undergraduate and postgraduate courses). 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 research has been extensively published in scholarly journals and he is today one of the most highly cited economists in the world.

Part I. Introduction to Economics
1. What is Economics?
2. Thinking Like an Economist
Part II. 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 III. Interventions in Markets
8. Supply, Demand and Government Policies
9. Public Goods, Common Resources and Merit Goods
10. Market Failure and Externalities
Part IV. 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 V. Factor Markets
15. The Economics of Factor Markets
Part VI. Inequality
16. Income Inequality and Poverty
Part VII. Trade
17. Interdependence and the Gains From Trade
Part VIII. Heterodox Economics
18. Information and Behavioural Economics
19. Heterodox Theories in Economics
Part IX. The Data of Macroeconomics
20. Measuring a Nation’s Wellbeing and the Price Level
Part X. The Real Economy in the Long Run
21. Production and Growth
22. Unemployment and the Labour Market
Part XI. Long-Run Macroeconomics
23. Saving, Investment and the Financial System
24. The Monetary System
25. Open-Economy Macroeconomics
Part XII. 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 XIII. International Macroeconomics
32. Economic Shocks
33. The European Union
34. Sustainability Economics