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Principles of Economics [1] is an introductory economics textbook by Harvard economics professor N. Gregory Mankiw. It was first published in 1997 and has ten editions as of 2024. [ 2 ] The book was discussed before its publication for the large advance Mankiw received for it from its publisher Harcourt [ 3 ] and has sold over a million copies ...
Nicholas Gregory Mankiw (/ ˈ m æ n k j uː / MAN-kyoo; born February 3, 1958) is an American macroeconomist who is currently the Robert M. Beren Professor of Economics at Harvard University. [4] Mankiw is best known in academia for his work on New Keynesian economics. [5] Mankiw has written widely on economics and economic policy.
Description: Explores the "specific differentia of medical care as the object of normative economics", demonstrating that the consideration of uncertainty is key to understanding markets in health care. Importance: Generally considered a seminal work of enduring significance; key to the foundation of health economics as a field of study.
Economics was the second Keynesian textbook in the United States, following the 1947 The Elements of Economics, by Lorie Tarshis.Like Tarshis's work, Economics was attacked by American conservatives (as part of the Second Red Scare, or McCarthyism), universities that adopted it were subject to "conservative business pressuring", and Samuelson was accused of Communism.
The first edition of the book was published in 1960. Until the 10th edition, the author was Campbell R. McConnell, professor of economics at the University of Nebraska, Lincoln, and since the 11th edition, which was published in 1990, Stanley L. Brue, a professor of economics, has become a co-author. [1]
The one which currently dominates the academic literature on real business cycle theory [citation needed] was introduced by Finn E. Kydland and Edward C. Prescott in their 1982 work Time to Build And Aggregate Fluctuations. They envisioned this factor as technological shocks—i.e., random fluctuations in the productivity level that shifted the ...
Modern macroeconomics can be said to have begun with Keynes and the publication of his book The General Theory of Employment, Interest and Money in 1936. [22] Keynes expanded on the concept of liquidity preferences and built a general theory of how the economy worked.
In labor economics, an efficiency wage is a wage paid in excess of the market-clearing wage to increase the labor productivity of workers. [1] Specifically, it points to the incentive for managers to pay their employees more than the market-clearing wage to increase their productivity or to reduce the costs associated with employee turnover.