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See Most Recent Edition

Principles of Microeconomics, 8th Edition |

N. Gregory Mankiw, Ronald D. Kneebone, Kenneth J McKenzie

  • Copyright 2020
  • {{checkPublicationMessage('Published', '2019-09-30T00:00:00+0000')}}
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Principles of Microeconomics 8th Edition by N. Gregory Mankiw/Ronald D. Kneebone/Kenneth J McKenzie
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Overview

Principles of Microeconomics, Eighth Canadian Edition is designed with the student experience in mind by providing a breakdown of concepts and emphasizing big ideas throughout its entirety. As the market leader, it continues to be the most widely-used text in an economics classroom, perfectly complementing instructor teachings. Students can expect to receive a constructive understanding of economic practices through real-world context, as it consistently relays economic theory through applications. The 8th edition continues this approach while lessening the mathematical details without losing rigour. It provides students with a foundation to continue on to advanced work in economics but also speaks to those who may pursue another discipline. Figures in the book have been updated with recent data from Statistics Canada. New “Ask the Experts” boxes feature opinions from the world’s most prominent economists, including topics such as minimum wage impact and trade deals. Mankiw emphasizes big-picture ideas, ensuring students are grounded in the key concepts and principles that every first-year student should know in order to flourish.

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Meet the Authors

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N. Gregory Mankiw

N. Gregory Mankiw is the Robert M. Beren Professor of Economics at Harvard University. As a student, he studied economics at Princeton University and the Massachusetts Institute of Technology. As a teacher he has taught macroeconomics, microeconomics, statistics and principles of economics. Professor Mankiw is a prolific writer and a regular participant in academic and policy debates. In addition to his teaching, research and writing, Professor Mankiw has been a research associate of the National Bureau of Economic Research and an advisor to the Federal Reserve Banks of Boston and New York and the Congressional Budget Office. From 2003 to 2005, he served as chairman of the US President’s Council of Economic Advisors and was an advisor to presidential candidate Mitt Romney during the 2012 US presidential election.

Ronald D. Kneebone

Ronald D. Kneebone is Professor in the Department of Economics and the School of Public Policy at the University of Calgary. He received his Ph.D. from McMaster University. Professor Kneebone has taught courses in public finance and in macroeconomics from principles through to the Ph.D. level, and he is a two-time winner of the Faculty of Social Sciences Distinguished Teacher Award at the University of Calgary. His research interests are primarily in the areas of public-sector finances and fiscal federalism, but he has recently worked on the problems of homelessness and poverty reduction. He shared with Kenneth J. McKenzie the Douglas Purvis Memorial Prize for the best published work in Canadian public policy in 1999. He is currently Scientific Director of the Social Policy and Health Research division of the School of Public Policy, where he leads a group of researchers investigating issues related to poverty, cognitive and physical disabilities, the organization and financing of health care, and homelessness.

Kenneth J McKenzie

Kenneth J. McKenzie is Professor in the Department of Economics at the University of Calgary. He received his Ph.D. from Queen’s University. Specializing in public economics with an emphasis on taxation and political economy, Professor McKenzie has published extensively in these areas. He is the winner of the 1996 Harry Johnson Prize (with University of Calgary colleague Herb Emery) for the best article in the Canadian Journal of Economics, a two-time winner of the Douglas Purvis Memorial Prize for a published work relating to Canadian public policy (in 1999 with Ronald D. Kneebone and in 2011 with Natalia Sershun), and a Faculty of Social Sciences Distinguished Researcher Award winner at the University of Calgary. He is a former editor of Canadian Public Policy and of the “Finances of the Nation” feature of the Canadian Tax Journal. Professor McKenzie has taught microeconomics and public economics from principles to graduate level and has received several departmental teaching awards.​

What's New

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  • Figures and tables throughout have been updated with recent data from Statistics Canada. These colourful and eye-catching visuals clarify important economics concepts.
  • Updated “In the News”, “FYI”, and “Case Studies” focus on current issues related to trade, technology, the environment and income distribution.
  • New “Ask the Experts” Boxes highlight the IGM Economics Experts Panel, showing students when economists are united, when they are divided, and when they simply don’t know what to think.
  • Chapter Openers act as previews that summarize the major concepts to be learned in each chapter and have been updated for the new edition.

Features

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  • Case Studies apply economic theory to actual events and policies to ensure students achieve full understanding.
  • “In the News” features excerpts from many Canadian and international news articles, including opinion columns written by prominent economists, to show how basic economic theory can be applied with greater understanding.
  • “FYI” features provide additional material “for your information”. Some offer a glimpse into the history of economic thought. Others clarify technical issues or discuss supplementary topics.
  • Quick Quizzes are included after each major section in the text for students to check their comprehension. If students cannot readily answer these quizzes, they should stop and reread the material before continuing.
  • Questions for Review are included at the end of each chapter and cover the chapter’s primary lessons.
  • Quick Check Multiple Choice are end-of-chapter questions in multiple-choice format.
  • Problems and Applications ask students to apply the material they have learned. Some instructors may use these questions for homework assignments or introduce them as a starting point for classroom discussion.

Table of Contents

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Part 1: Introduction
Chapter 1: Ten Principles of Economics
Chapter 2: Thinking Like an Economics
Appendix – Graphing: A Brief Review
Chapter 3: Interdependence and the Gains from Trade

Part 2: Supply and Demand I: How Markets Work
Chapter 4: The Market Forces of Supply and Demand
Appendix – The Mathematics of Market Equilibrium with Taxes
Chapter 5: Elasticity and Its Application
Chapter 6: Supply, Demand, and Government Policies

Part 3: Supply and Demand II: Markets and Welfare
Chapter 7: Consumers, Producers, and the Efficiency of Markets
Appendix – The Mathematics of Consumer and Producer Surplus
Chapter 8: Applications: The Costs of Taxation
Appendix – The Mathematics of Deadweight Loss
Chapter 9: Application: International Trade

Part 4: The Economics of the Public Sector
Chapter 10: Externalities
Chapter 11: Public Goods and Common Resources
Chapter 12: The Design of the Tax System

Part 5: Firm Behavior and the Organization of Industry
Chapter 13: The Costs of Production
Chapter 14: Firms in Competitive Markets
Chapter 15: Monopoly
Chapter 16: Monopolistic Competition
Chapter 17: Oligopoly

Part 6: The Economics of Labour Markets
Chapter 18: The Markets of the Factors of Production
Chapter 19: Earnings and Discrimination
Chapter 20: Income Inequality and Poverty

Part 7: Topics for Further Study
Chapter 21: The Theory of Consumer Choice
Chapter 22: Frontiers of Microeconomics

Glossary
Index

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Each MindTap product offers the full, mobile-ready textbook combined with superior and proven learning tools at one affordable price. Students who purchase digital access can add a print option at any time when a print option is available for their course.

This Cengage solution can be seamlessly integrated into most Learning Management Systems (Blackboard, Brightspace by D2L, Canvas, Moodle, and more) but does require a different ISBN for access codes. Please work with your Cengage Learning Consultant to ensure the proper course set up and ordering information. For additional information, please visit the LMS Integration site.

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  • ISBN-10: 0176887970
  • ISBN-13: 9780176887971
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Traditional eBook and Print Options

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  • ISBN-10: 1774747030
  • ISBN-13: 9781774747032
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  • ISBN-10: 0176948171
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Supplements

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Cengage provides a range of supplements that are updated in coordination with the main title selection. For more information about these supplements, contact your Learning Consultant.

FOR INSTRUCTORS

MindTap Instant Access (12 Months/Multi Term) for Mankiw's Principles of Microeconomics

ISBN: 9780176887971
MindTap is the digital platform that propels students from memorization to mastery, helping to challenge them, build their confidence, and empower them to be unstoppable. Aplia™ is an application in the MindTap platform that has proven to significantly improve outcomes and elevate thinking by increasing student effort and engagement. Aplia makes it easy to assign frequent online homework assignments and assessments, ensuring students master important concepts. Developed by teachers, Aplia assignments connect concepts to the real world and focus on the unique course challenges faced by students. The MindTap content for Principles of Microeconomics, Eighth Canadian Edition, was updated and revised by Anupam Das, Mount Royal University. The Aplia problems for Principles of Microeconomics, Eighth Canadian Edition, were updated and revised by Lucia Vojtassak, University of Calgary. The challenging and interactive activities within Aplia guide students through assignments, moving them from basic knowledge and understanding to application and practice. Look for the Aplia logo in the MindTap app dock to explore all that Aplia has to offer. With Aplia, instructors can do the following: • easily set their course with pre-built, flexible homework assignments; • author questions (single choice, multiple choice, true/false, essay and numeric entry); • create custom assignments and populate them with self-authored—and Aplia-authored—questions; and • inspire students to learn from their mistakes and reward them for effort with the Grade It Now feature that enables three attempts at different versions of a question.

FOR STUDENTS

MindTap Instant Access (12 Months/Multi Term) for Mankiw's Principles of Microeconomics

ISBN: 9780176887971
MindTap is the digital platform that propels students from memorization to mastery, helping to challenge them, build their confidence, and empower them to be unstoppable. Aplia™ is an application in the MindTap platform that has proven to significantly improve outcomes and elevate thinking by increasing student effort and engagement. Aplia makes it easy to assign frequent online homework assignments and assessments, ensuring students master important concepts. Developed by teachers, Aplia assignments connect concepts to the real world and focus on the unique course challenges faced by students. The MindTap content for Principles of Microeconomics, Eighth Canadian Edition, was updated and revised by Anupam Das, Mount Royal University. The Aplia problems for Principles of Microeconomics, Eighth Canadian Edition, were updated and revised by Lucia Vojtassak, University of Calgary. The challenging and interactive activities within Aplia guide students through assignments, moving them from basic knowledge and understanding to application and practice. Look for the Aplia logo in the MindTap app dock to explore all that Aplia has to offer. With Aplia, instructors can do the following: • easily set their course with pre-built, flexible homework assignments; • author questions (single choice, multiple choice, true/false, essay and numeric entry); • create custom assignments and populate them with self-authored—and Aplia-authored—questions; and • inspire students to learn from their mistakes and reward them for effort with the Grade It Now feature that enables three attempts at different versions of a question.