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.

Table of Contents

PART I: INTRODUCTION - The Science of Macroeconomics - The Data of Macroeconomics - PART II: CLASSICAL THEORY: THE ECONOMY IN THE LONG RUN - National Income: Where It Comes From and Where It Goes - Money and Inflation - The Open Economy - Unemployment - PART III: GROWTH THEORY: THE ECONOMY IN THE VERY LONG RUN - Economic Growth I - Economic Growth II - PART IV: BUSINESS CYCLE THEORY: THE ECONOMY IN THE SHORT RUN - Introduction to Economic Fluctuations - Aggregate Demand I - Aggregate Demand II - Aggregate Demand in the Open Economy - Aggregate Supply - PART V: MACROECONOMIC POLICY DEBATES - Stabilization Policy - Government Debt and Budget Deficits - PART VI: MORE ON THE MICROECONOMICS BEHIND MACROECONOMICS - Consumption - Investment - Money Supply and Money Demand - Advances in Business Cycle Theory - Epilogue: What We Know, What We Don't - Glossary