Cover: Macroeconomics, 12th Edition by N. Gregory Mankiw

Macroeconomics

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Twelfth  Edition©2025  N. Gregory Mankiw

ISBN:9781319567569

ISBN:9781319567651

ISBN:9781319573003

ISBN:9781319473471

ISBN:9781319590352

ISBN:9781319590338

About

There is no one better than Mankiw when it comes to explaining macroeconomics theory, research, and policy.

The number one product for the Intermediate Macro course, this text explains complex concepts with exceptional clarity. This new edition has updated coverage on income inequality, full coverage of the monetary system across two chapters, and an improved model of labor-force dynamics to explain the natural rate of unemployment.

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Table of Contents

Preface

Part I Introduction

Chapter 1 The Science of Macroeconomics

Chapter 2 The Data of Macroeconomics

Part II Classical Theory: The Economy in the Long Run

Chapter 3 National Income: How It Is Earned

Chapter 4 National Income: How It Is Spent

Chapter 5 A First Look at the Monetary System

Chapter 6 Inflation: Its Causes, Effects, and Social Costs

Chapter 7 The Open Economy

Chapter 8 Unemployment and the Labor Market

Part III Growth Theory: The Economy in the Very Long Run

Chapter 9 Capital Accumulation as a Source of Growth

Chapter 10 Population Growth and Technological Progress

Chapter 11 Growth Empirics and Policy

Part IV Business Cycle Theory: The Economy in the Short Run

Chapter 12 Introduction to Economic Fluctuations

Chapter 13 Aggregate Demand I: Building the IS–LM Model

Chapter 14 Aggregate Demand II: Applying the IS–LM Model

Chapter 15 The Open Economy Revisited: The Mundell–Fleming Model and the Exchange-Rate Regime

Chapter 16 Aggregate Supply and the Short-Run Tradeoff Between Inflation and Unemployment

Part V Topics in Macroeconomic Theory and Policy

Chapter 17 A Dynamic Model of Economic Fluctuations

Chapter 18 Alternative Perspectives on Stabilization Policy

Chapter 19 Government Debt and Budget Deficits

Chapter 20 Banking and Monetary Policy

Chapter 21 The Financial System: Opportunities and Dangers

Chapter 22 The Microfoundations of Consumption and Investment

Epilogue What We Know, What We Don’t

N. Gregory Mankiw

N. Gregory Mankiw is the Robert M. Beren Professor of Economics at Harvard University. He began his study of economics at Princeton University, where he received an A.B. in 1980. After earning a Ph.D. in economics from MIT, he began teaching at Harvard in 1985 and was promoted to full professor in 1987. At Harvard, he has taught both undergraduate and graduate courses in macroeconomics. He is also author of the best-selling introductory textbook Principles of Economics (Cengage Learning).

Professor Mankiw is a regular participant in academic and policy debates. His research ranges across macroeconomics and includes work on price adjustment, consumer behavior, financial markets, monetary and fiscal policy, and economic growth. In addition to his duties at Harvard, he has been a research associate of the National Bureau of Economic Research, a member of the Brookings Panel on Economic Activity, a trustee of the Urban Institute, and an adviser to the Congressional Budget Office and the Federal Reserve Banks of Boston and New York. From 2003 to 2005 he was chairman of the President’s Council of Economic Advisers.

Professor Mankiw lives in Wellesley, Massachusetts, with his wife, Deborah; children, Catherine, Nicholas, and Peter; and their border terrier, Tobin.