Macroeconomics
by N. Gregory Mankiw
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Book Summary Information
Author: N. Gregory MankiwEdition: Hardcover
Audio: English (Unknown); English (Original Language); English (Published)
Published: 2006-04-28
ISBN: 0716762137
Number of pages: 608
Publisher: Worth Publishers
Book Reviews of Macroeconomics
Book Review: A clear, concise, and well written text on the economic choices and behaviors of nations
Summary: 5 Stars
If you are familiar with Mankiw's introductory text "Principles of Economics", you know that he writes in a clear, concise, and as lively a manner as you are likely to find in a text on economics. Since I find economics quite interesting, I wanted more when I read through that textbook. For those of us who felt that desire, Mankiw has updated his intermediate text on macroeconomics for this sixth edition.
Microeconomics is the study of the economic behavior of people as individuals and in organizations such as corporations. Macroeconomics is the study of economic behavior of human beings as nations and the economic interactions between nations. It involves aspects of the economy such as money, savings, growth, stocks and flows, inflation, unemployment, taxation, national budgets and so forth. The study does not prefer one type of government policy over another, but studies the tradeoffs of the effects of different economic choices. Those of us who prefer specific outcomes will prefer certain choices over others, but that is not a part of the broader topic.
Mankiw writes this volume in his clear and concise style. He notes that he remembers being a student and not appreciating long textbooks, so he worked hard to keep this book as tight as possible. He also uses short case studies, apt cartoons, clear graphs, chapter summaries, a list of key concepts for each chapter, questions for review, as well as problems and applications to help the diligent reader master the material he provides. There are discussions of functions within each chapter, but much of the math is put into footnotes and in chapter appendices. Each chapter has a conclusion that gives the chapter a sharp point and some of the chapters have FYI boxes that deal with specific topics such as "The Liquidity Trap" or "Two Arithmetic Tricks for Working with Percentage Changes".
This is a topic that everyone would be better off studying. It would help you realize how much nonsense is noised into lives by the talking heads, experts, politicians, and even so-called "economists" on TV, in our newspapers, and in far too many books. I am not saying that Mankiw has any special or unique view that is better than other macroeconomists. What I am saying is that studying a good textbook on this will help you. This is a good, balanced, and well written text that is a good choice among many. I liked it and felt that I benefited from it. I suspect that unless you are already trained in macroeconomics, you would benefit, too.
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