by N. Gregory Mankiw
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Product Description
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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Average Customer Review:
0 of 1 people found the following review helpful:
 cheap and good, 2008-11-02
I bought this book for my grad school macro class because I had realtively weak macro backround.
I think this is the best book for studying a little before the original grad school text.
For the seller, I would buy from them again anytime, fast shipping and cheap price. to be honest my book is kind of abused. there are several stickers on the cover and almost every page is highlighted but the binding is very good and i paid just 4 dollars for it so it is very acceptable for the price and it is good for the job.
Altough my copy was not very good you can get a very nice one. I bought quite a few text books like this and I paid as low as 0.90 cents some of them. I had some practicly new books.
So its all about luck, you can get a really nice one if you are lucky and if not it is still perfectly usable.
0 of 0 people found the following review helpful:
O.K. For Basics, 2007-07-21
I read this book in preparation for a graduate course in macroeconomics. While it does provide a good overview, I found it went only slightly deeper into economic models than the basic text I used as an undergraduate. This book provided little in the way of the advanced math required for my graduate course where we used Advanced Macroeconomics by David Romer.
I would expect an intermediate text, as this is marketed, to better illustrate the mathematics required for economics, given the heavy reliance on math in the field today.
3 of 17 people found the following review helpful:
dissatisfied, 2006-03-23
i am a second year economics student from New Zealand. I ordered the complimentary set from Amazon because I heard of its great service and the books were cheaper than what we could buy them for back in NZ. To my amazement I received the student guide quite promptly expecting the complimentary text would arrive soon after. It has been over a month into my course and I still havent received it. Whats worse is the guide is almost useless (complimentary good) with out the good. Why cant Amazon send both of them together?
11 of 12 people found the following review helpful:
Excellent, Otherworldly, 2006-02-24
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.
3 of 7 people found the following review helpful:
Not bad, could be better, 2006-02-01
I am going to give this book four stars, however, I do have reservations about doing so. When I first picked up this book from one of the economics professors at my school, I was curious to read it because Gregory Mankiw was the Chief of the Council of Economic Adivsors. So I naturally thought, well this must be a brilliant man to have achieved a position so high. Well, now for the book. While the book is laid out in a fairly simple way and it is really easy to understand, sometimes too easy for an intermediate text, I began to notice Mankiw's economic philosophy slipping into the text. If anyone doesn't know, Mankiw is a New Keynesian. Well I thought that Keynesian economics was dead after the Reagan/Bush administrations failed with certain aspects of the economy. Please note, I said certain, such as the supposed tax cuts in the 80's that were offset by Social Security Tax hikes, and the out of control budget deficits. But I digress. Now, back to Mankiw. His text is filled with the ideas that he advised 43 on, and in fact 43 carried out.
But I don't want to hate on Mankiw. I think that the book could have been more properly balanced with other ideas. Mankiw could have really out done himself if he would have supplied a book that had his approach, somewhat governmental, and another approach that lets market forces take over the economy and promotes less government intervention. But that is just wishful thinking. All in all, the book does have its highlites, such as: easy to read, easy to understand, well laid out, and the fact that hopefully Mankiw will be busy and come out with a second edition to make this one really cheap. So therefore, despite its inherent downfall due to Mankiw's economic philosophy, I give four stars, and would recommend it to anyone who might be interested in macroeconomics or wants to expand their library.
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