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- Chapter 1 introduces students to the ten most important principles, which are then thoroughly incorporated in discussions throughout the book.
- Chapter 3 is an early and accessible introductory discussion of one of economics most powerful and universal insights: how people gain from trade. This coverage enables professors to include international applications at the beginning of the course.
- In Chapter 6, the tools of supply and demand are put to work to examine the effects of various government policies.
- Chapters 7, 8, and 9 discuss why the equilibrium of supply and demand is desirable for society as a whole. The concepts of consumer and producer surplus explain the efficiency of markets, the costs of taxation, and the benefits of international trade.
- Introducing Externalities in Chapter 10 and Public Goods and Common Resources in Chapter 11, allows discussion of why market outcomes are not always efficient, and looks at how governments can sometimes remedy market failure.
- Chapter 21 is optional, but does provide a rigorous analysis of indifference curves as a tool to examine consumer theory.
- Chapters 24, 25, and 26 describe the forces that determine key real variables (including GDP, saving, investment, real interest rates, and unemployment) in the long run.
- The monetary system is discussed in Chapters 27 and 28. The monetary system is crucial in determining the long-run behavior of the price level, inflation rate and other nominal variables.
- Chapter 34 was one of Mankiw's favorite chapters to write. He presents both sides of five major debates over economic policy. This is a great way to end the course. Reviewers say that this chapter is the "perfect ending to a great novel."
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