Summary of Principles of Economics

Principles of Economics, written by N. Gregory Mankiw, is a highly regarded and renowned undergraduate textbook that is used around the globe. The book offers a comprehensive and thorough overview of traditional economic theory and modern economic principles, while covering microeconomics, macroeconomics and international economics within one cohesive textbook. Major topics covered in the book include consumer behavior and producer behavior in different markets, market structures, government policies and their impacts on the economy, international trade and finance, unemployment and inflation, economic growth and development, and public policies. Throughout the book, the author uses a flexible pedagogical approach, blending traditional economic theory, empirical evidence and real-world illustrations to help readers develop economic intuition and gain a better understanding of principles and their applicability in today’s world.