Principles of Economics: Middle East Edition with CourseMate 1e

N. Gregory Mankiw, Professor of Economics, Harvard University Mohamed Hashem Rashwan, Assistant Professor of Finance & Economics, Zayed University, UAE. 864pp Published by Cengage Learning, ©2012 Available Now £54.99

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This Middle East adaptation of the sixth edition of N. Gregory Mankiw’s Principles of Economics includes dedicated case studies, news articles and features focussed specifically on the Middle East, integrated throughout the book. The features and content which made the US edition of the text so successful have been retained, including:

- The classic ten principles approach to economics – introduced in Chapter One and then referred to throughout the book designed to help build a framework for understanding

- The rigour necessary to help learners develop the confidence to think like economists

Principles of Economics: Middle East Edition is essential reading for all students taking introductory economics modules on undergraduate courses throughout the Middle East and will be of interest to students from the Middle East studying in other parts of the world. It is also ideal for use with the economics component of MBA courses.

This textbook is autopackaged with Coursemate. CourseMate brings course concepts to life with interactive learning, study, and exam preparation tools that support the printed textbook and the textbook-specific website. CourseMate includes an integrated eBook and interactive teaching and learning tools including quizzes, flashcards, videos, and more and an EngagementTracker, a first-of-its-kind tool that monitors student engagement in the course.

Features

• Case studies and In the News articles are fully tailored to the Middle East throughout the book, to provide students with real-life application to their learning.
• The base text has been carefully edited and amended to reflect Middle East culture and students’ day-to-day experiences e.g. the names used in examples, figures, tables, and case studies are those familiar to the Middle East.
• The economic data presented in figures and tables is taken from Middle East sources, and the real-life companies used are Middle East ones rather than western ones. This further enhances the relevance of the text to students’ real-life experiences.
• Students and lecturers benefit from the text’s extensive references to, and content adapted and sourced from essential Middle East publications and institutions including: Dubai One; Jordan Times; Central Bank of Jordan; Central Bank of Egypt; Central Bank of Lebanon; Central Bank of Syria, Egypt Daily News; Jordan Times and Saudi News Today.
• Superb new chapter on Islamic Finance to provide students with a good understanding of this system of banking and banking activity which is consistent with Islamic law (Shariah) principles and guided by Islamic economics.
• Key macro chapters on unemployment, inflation and growth have been amended to give examples of these indicators in selected Middle East countries where the market is strongest, and enable students to clearly relate these key chapters directly to their own experiences.
• The chapter on taxation has been carefully rewritten with a strong Middle East focus.
• Illustrations and photographs reflecting the Middle East are woven in throughout the book, to help bring the text to life for students and engage them in active learning.

Part I Introduction
1 Ten Principles of Economics
2 Thinking Like an Economist
3 Interdependence and the Gains from Trade
Part II How Markets Work
4 The Market Forces of Supply and Demand
5 Elasticity and Its Application
6 Supply, Demand, and Government Policies
Part III Markets and Welfare
7 Consumers, Producers, and the Efficiency of Markets
8 Application: The Costs of Taxation
9 Application: International Trade
Part IV The Economics of the Public Sector
10 Externalities
11 Public Goods and Common Resources
12 The Design of the Tax System
Part V 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 VI The Economics of Labor Market
18 The Markets for the Factors of Production
19 Earnings and Discrimination
20 Income Inequality and Poverty
Part VII Topics for Further Study
21 The Theory of Consumer Choice
22 Frontiers of Microeconomics
Part VIII The Data of Macroeconomics
23 Measuring a Nation’s Income
24 Measuring the Cost of Living
Part IX 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 X Money and Prices in the Long Run
30 The Monetary System
31 Money Growth and Inflation
Part XI The Macroeconomics of Open Economies
32 Open-Economy Macroeconomics: Basic Concepts
33 A Macroeconomic Theory of the Open Economy
Part XII 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 XIII Final Thoughts
37 Six Debates over Macroeconomic Policy

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“The text lives up to the high Mankiw standard of clarity, lucidity, and accessibility. The Islamic Finance chapter is superb, as are the real-world Middle East examples.” Dr. Salah ElSabaa, The Faculty of Business, Economics and Political Science, The British University in Egypt

“This outstanding economics text book is the first of its kind to present up-to-date Middle East case studies and a separate chapter on Islamic Finance. I strongly recommend that this book be used throughout the Middle East region.” Dr. Hazem Marashdeh, Assistant Professor in Finance and Economics, Alhosn University, Abu Dhabi, United Arab Emirates

N. Gregory Mankiw
N. Gregory Mankiw is Professor of Economics at Harvard University. 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 behavior, 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 including 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. In addition, he maintains a very popular blog for students of economics at http://www.gregmankiw.blogspot.com.

Mohamed Hashem Rashwan
Mohamed H. Rashwan is an Assistant Professor of Finance and Economics at Zayed University in the United Arab Emirates. Dr Rashwan worked for the British University in Egypt (BUE) and recently he joined the Institute for Islamic World Studies (IIWS) 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.