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Macroeconomics [Hardcover]

N. Gregory Mankiw
4.5 out of 5 stars  See all reviews (4 customer reviews)

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Book Description

29 May 2002
Mankiw's text covers the field of macroeconomics accessibly and concisely, emphasising the relevance of both its classical roots and its practice at the beginning of the 21st century. It is updated to deal with the economic slowdown of 2001, due to the end of the stock market boom and the events of September 11, which has again put business cycle theory centre stage.

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Product details

  • Hardcover: 608 pages
  • Publisher: Worth Publishers Inc.,U.S.; 5th Revised edition edition (29 May 2002)
  • Language: English
  • ISBN-10: 0716752379
  • ISBN-13: 978-0716752370
  • Product Dimensions: 25.4 x 20.1 x 2.5 cm
  • Average Customer Review: 4.5 out of 5 stars  See all reviews (4 customer reviews)
  • Amazon Bestsellers Rank: 304,558 in Books (See Top 100 in Books)
  • See Complete Table of Contents

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'...still my favourite text.' -- Professor Landmann, Albert-Ludwig University, Freiberg, on the previous edition

'A clear, user-friendly presentation of modern macroeconomic analysis...the international coverage makes it suitable for a European, as well as a US audience.' -- Dr Martin Tait, University of Newcastle, on the previous edition

'Excellent clear exposition. Good coverage of range of material. The market leader. Excellent aids for lecturers.' -- Dr. S W Proce, Department of Economics, University of Leicester, on the previous edition

About the Author

N. GREGORY MANKIW, Professor of Economics, Harvard University.

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Most Helpful Customer Reviews
21 of 24 people found the following review helpful
3.0 out of 5 stars Solid introduction to macroeconomics 11 May 2004
By A Customer
Format:Hardcover|Verified Purchase
This book provides a useful introduction to Macroeconomics for first year undergraduates. It is best used as a base to develop and intuition and feel for the subject, but is, on the whole, quite simplistic, and one should try to quickly move on to a more technical reading, such as Macroeconomics by Blanchard, which is more mathematical, and provides a better base for further study.
Has good sections on Economic Growth and open ecnomomy macroeconomics.
Recommended for those who want to avoid calculus and maths in general! Those with stronger mathematical skills may find it a bit frustrating.
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5.0 out of 5 stars best undergrad macro book 24 Oct 2011
By mattdns
i haven't used any other macro books so it will be a slightly biased review. but then again i didn't need to. i am in 2nd year of uni and i can say this book is so easy to read and understand, i wish all my other modules had books written by Mankiw. above all he makes macroeconomics seem a very interesting subject. HIGHLY RECOMMENDED!
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5.0 out of 5 stars amazing condition and speedy delivery 20 Mar 2011
By Shy
book arrived far earlier than predicted and the condition of the book was almost brand new! great value for money.
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5.0 out of 5 stars Macroeconomics by Mankiw 15 Feb 2010
Well done and extremely happy about it. A good book that explains very well. The book act as teacher to me. Many explanations come in diagrams and real-life examples (with colurs too!) which help students like me to be able to understand better. Although is in the fifth edition which is not the latest, but it proves handy enough especially for those whose budget is slightly tight. Difference between this edition and the sixth is little anyway. A well worth buying book. Bought with no regrets.
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Most Helpful Customer Reviews on (beta) 4.4 out of 5 stars  16 reviews
44 of 52 people found the following review helpful
5.0 out of 5 stars Highly recommended 17 Jun 2003
By Alan D. Barbour - Published on
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.
17 of 18 people found the following review helpful
4.0 out of 5 stars Excellent, Otherworldly 24 Feb 2006
By not me - Published on
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.

-- According to Robert Pollin, two decades of union-bashing, downsizing and free trade have led to widespread job insecurity in the U.S. With workers too intimidated and too worried about jobs to press for wage increases, the economy was able to grow in the 1990s without triggering a round of inflation, and the benefits of this growth were skewed towards upper-income groups. In other words, extra-market power relationships in the workplace directly affected macroeconomic performance and income distribution.

I don't doubt that these developments can be captured and analyzed in the IS/LM or AS/AD framework. I'm not so sure, however, that many people steeped in this mode of analysis would have expected these developments ex ante. That would have required a knowledge of history, policy responses, and specific markets that is difficult to capture in abstract models. For my taste, any approach to economics that focuses on algebraic relationships between economic aggregates to the semi-exclusion of history and institutions is just too "otherworldly" to be satisfying. But maybe that's a problem with the way my mind works, not with macroeconomics. It certainly doesn't mean that Mankiw's book is anything less than excellent. Any student interested in learning basic macroeconomic analysis should read it.
8 of 8 people found the following review helpful
5.0 out of 5 stars A Nice book! 18 Jan 2006
By ********** - Published on
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.
14 of 16 people found the following review helpful
4.0 out of 5 stars Fairly clear, but no math, and not very rigorous. 20 April 2005
By Sean O'Se - Published on
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.
7 of 7 people found the following review helpful
5.0 out of 5 stars One of the better ones 22 Jan 2005
By Bobo the College Student - Published on
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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