Principles of Economics Arab World, 3rd Edition

The Arab World edition of N. Gregory Mankiw’s Principles of Economics is essential reading for economics students in Arab League countries, or those with any interest in Islamic Finance. Following on from the successful second edition, the text contains updated case studies, news articles and features, which focus on the Arab World. It also includes Mankiw’s classic ten principles approach to economics – introduced in Chapter one and then referenced throughout the book, designed to help build a framework for understanding. This text is designed to give students the confidence and ability to think like an economist. The third edition is also available as a MindTap, a fully interactive learning platform with additional assessment questions, Concept Clips and case studies.

Part 1 Introduction
1. Ten principles of economics
2. Thinking like an economist
3. Interdependence and the gains from trade
Part 2 How Markets Work
4. The market forces of supply and demand
5. Elasticity and its application
6. Supple, demand, and government policies
Part 3 Markets and Welfare
7. Consumers, producers, and the efficiency of markets
8. Application: The costs of taxation
9. Application: International trade
Part 4 The Economics of the Public Sector
10. Externalities
11. Public goods and common resources
12. The design of the tax system
Part 5 Firm Behavior and the Organization of Industry
13. The costs of production
14. Firms in competitive markets
15. Monopoly
16. Monopolistic competition
17. Oligopoly
Part 6 The Economics of Labor Markets
18. The markets for the factors of production
19. Earnings and discrimination
20. Income inequality and poverty
Part 7 Topics for Further Study
21. The theory of consumer choice
22. Frontiers of microeconomics
Part 8 The Data of Macroeconomics
23. Measuring a nation’s income
24. Measuring the cost of living
Part 9 The Real Economy in the Long Run
25. Production and growth
26. Saving, investment, and the financial system
27. The basic tools of finance
28. Islamic finance
29. Unemployment
Part 10 Money and Prices in the Long Run
30. The monetary system
31. Money growth and inflation
Part 11 The Macroeconomics of Open Economies
32. Open-economy macroeconomics: Basic concepts
33. A macroeconomic theory of the open economy
Part 12 Short-Run Economic Fluctuations
34. Aggregate demand and aggregate supply
35. The influence of monetary and fiscal policy on aggregate demand
36. The short-run trade-off between inflation and unemployment
Part 13 Final Thoughts
37. Six debates of macroeconomic policy

• In the News and Case Studies have been updated or rewritten to reflect modern approaches to economics in the Arab World.
• Fully reviewed by local subject matter experts to ensure this edition is appropriate for students.
• This edition is available as a MindTap with additional assessment questions, global case studies and Concept Clips videos.

• Clear and simple writing style allows for ease of use and comprehension.
• Examples, case studies, and questions that relate to life in the Arab World show students how concepts relate to their own lives.
• A chapter on Islamic finance, and how Islamic and non-Islamic banking differ, will be useful for students in the Arab World.
• Dedicated online resources to allow self-study, concept check and revision, including MindTap with its additional assessment questions, videos and cases.

Gregory Mankiw
Harvard University

N. Gregory Mankiw is Professor of Economics at Harvard University. As a student, he studied economics at Princeton University and MIT. 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. His research includes work on price adjustment, consumer behaviour, financial markets, monetary and fiscal policy, and economic growth. His published articles have appeared in academic journals, such as the American Economic Review, Journal of Political Economy, and Quarterly Journal of Economics, and in more widely accessible forums, such as The New York Times, The Washington Post, The Wall Street Journal, and Fortune. In addition to his teaching, research, and writing, Professor Mankiw has been a research associate of the National Bureau of Economic Research, an adviser to the Federal Reserve Bank of Boston and the Congressional Budget Office, and a member of the ETS test development committee for the advanced placement exam in economics. From 2003 to 2005 he served as Chairman of the President's Council of Economic Advisers.

Mohamed H. Rashwan
The British University in Egypt

Mohamed H. Rashwan is a Lecturer at the Department of Business Administration at the British University in Egypt. Prior to this he was Assistant Professor of Finance and Economics at Zayed University in the United Arab Emirates. Dr Rashwan is the academic co-ordinator for the Master of Arts (M.A.) in Islamic Economics and Wealth Management provided by the IIWS for the first time in the Middle East and North Africa (MENA) region. Dr Rashwan has taught several courses in the field of finance, Islamic finance and economics at both undergraduate and graduate levels. Dr Rashwan is a regular contributor to academic and policy debates in economics. In addition to his teaching, research and writing, Dr Rashwan has been a consultant in the field of corporate and Islamic finance for more than ten years.