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Macroeconomics 5th Edition

18 customer reviews
ISBN-13: 978-0716752370
ISBN-10: 0716752379
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Product Details

  • Hardcover: 548 pages
  • Publisher: Worth Publishers; 5th edition (2003)
  • Language: English
  • ISBN-10: 0716752379
  • ISBN-13: 978-0716752370
  • Product Dimensions: 8 x 0.9 x 10.7 inches
  • Shipping Weight: 3 pounds
  • Average Customer Review: 4.3 out of 5 stars  See all reviews (18 customer reviews)
  • Amazon Best Sellers Rank: #108,163 in Books (See Top 100 in Books)

More About the Author

N. Gregory Mankiw is Professor of Economics at Harvard University. As a student, he studied economics at Princeton University and MIT. As a teacher, he has taught macroeconomics, microeconomics, statistics, and principles of economics. He even spent one summer long ago as a sailing instructor on Long Beach Island.

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, such as "The New York Times", "The Washington Post", "The Wall Street Journal", and "Fortune".

He has written two popular textbooks--the intermediate-level textbook Macroeconomics (Worth Publishers) and the introductory textbook Principles of Economics (South-Western/Thomson). Principles of Economics has sold over a million copies and has been translated into twenty languages.

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.

To view his blog: http://gregmankiw.blogspot.com/

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Customer Reviews

Most Helpful Customer Reviews

17 of 18 people found the following review helpful By not me VINE VOICE on February 24, 2006
Format: Hardcover Verified Purchase
This is a clearly written and nicely organized upper-division macroeconomics textbook. Mankiw uses plain English and simple math to model the macroeconomy in the short-run (the IS/LM model), the long-run (the AS/AD model), and the very long run (the Solow growth model). He also devotes a lot of space to the Mundell-Fleming model of international trade and finance. One of the best features is the frequent use of short case studies that apply economic theory to "real world" problems such as the Great Depression or the Japanese slump of the 1990s. Mankiw's views are mainstream -- he doesn't even hint at the existence of alternatives such as Austrian economics or neo-Marxism -- but he is non-dogmatic about policy and quite candid about the limits of what economists really know about the economy. His book is a small masterpiece of clear economic writing for undergraduates.

So why did I give it only four stars? I was disappointed by the relative neglect -- in spite of the many "case studies" -- of the micro-economic, historical, and institutional realities that underlay the graphs and algebra of conventional macroeconomic analysis. Let me give two examples of what I mean:

-- According to Ben Bernanke, Asian countries responded to the financial turbulence of the 1990s by amassing huge foreign exchange reserves to defend their currencies against future attacks. These savings have for the most part been invested in the U.S., where they have financed trade deficits and fueled asset bubbles in the equities and housing markets. In other words, capital has flowed from relatively capital-poor countries to a capital-rich country, where it has paid for consumption binges.
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44 of 52 people found the following review helpful By Alan D. Barbour on June 16, 2003
Format: Hardcover Verified Purchase
A clear and altogether pleasant presentation; excellent layout and typography. A quick check indicated it was perhaps a bit less thorough than Olivier Blanchard (Mankiw doesn't mention the problems with non-performing loans in the Japanese banking system; Blanchard does), but one has to draw the line somewhere, and there is something to be said for allowing the instructor a bit more flexibility to introduce examples. Quite interesting--I hesitate to label a textbook exciting, but it would be an undersatement to say that Mankiw's text is neither soporific nor unduly convoluted; it inspires further inquiry. If you are required to use another text in a course, so be it; if reading for your own education, Mankiw is excellent. One might be sorely tempted to purchase it as a supplement to other less clear texts.
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8 of 8 people found the following review helpful By ********** on January 18, 2006
Format: Hardcover
This book is very well written. I like the clear dichotomy between those topics which are classical and those which Keynesian. Yes, it is true that there is not alot of math in this text, but that is fine for the following reason. In grad school, what is initially more important is a clear understanding of all that you should have learned as an undergrad. You will learn the math you need as well as how to apply it. Secondly, this book, if you pay attention, will really help you master the simple models and learn how to manipulate them in order to suit your purpose. In one section, Mankiw will define is endo and exo variable because of a question he wants to answer, but switch those same variables around in order to answer a very different set of questions. I really liked that approach because alot of published work is derivative in nature: take an existing model and modify it in a new way, after which show the contribution.

In summary, the value of this book is that you will be able to get a clear idea about all of the major topics in contempory maco. Having an easy reference once you get to grad school is nice.
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14 of 16 people found the following review helpful By Sean O'Se on April 20, 2005
Format: Hardcover
Well-written book: tries hard to restate conclusions and show how changes in policies and variables affect aggregate functions, etc. Sometimes confusing: doesn't always state whether a trend holds in the short run or long run.

Since I'm more used to micro, I found the vagueness of all the curves a bit maddening, as well as the lack of definitions and real-world indications of variable values. More importantly, there is basically no math here: I don't see how this book could possibly suffice for a grad student in econ (which I am not).

Interesting book on tough subject.
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7 of 7 people found the following review helpful By Bobo the College Student on January 21, 2005
Format: Hardcover
This book is very well written in terms of clarity, succintness, content, and readability. The various examples and real-world cases offer great (and immediate) opportunities to apply the theoretical material of pages past. The book utilizes proper notation and vocabulary while maintaining a readable text devoid of verbose or academically pretentious wording. In terms of shortfalls, the technical readers will be driven nuts by the lack of certain important events, concepts, and the feel of a specialized-for-economists book.
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17 of 21 people found the following review helpful By Frank Melaccio on May 4, 2003
Format: Hardcover
Mankiw really gives an in-depth explanation of Macroeconomics in an easy to understand way. I've taken this course at Fordham University and we used this book. This book is everything a beginner needs to know in complex economic policy.
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Format: Hardcover Verified Purchase
I bought this book because it came in good condition and without the study guide cd. I needed to save money and this book a few pages that were worn but nothing horrible. The seller did mark this item as used and I couldn't have asked for a better offer.
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