Because Mankiw wrote it for the students, the book stands out among all other principles texts by intriguing students to apply an economic way of thinking in their daily lives. Mankiw has refined the coverage and pedagogy of the second edition with the input of many users of the first edition. All changes that were made, and the many others that were considered, were evaluated in light of the benefits and brevity. Throughout the text design efforts improve comprehensibility of tables with clearer layouts and labeling. The discussion of circular flow has been clarified in Chapter 2.
Reviewers find it to be less abstract and more concrete.
New to Chapter 5 is the coverage of cross-price elasticity of demand. The discussions of the midpoint formula for elasticity and elasticity along a linear demand curve are now a part of the text coverage. Mankiw also expands the section on costs in the short run and long run. Compelling information on the effects the Internet on job search and unemployment has been updated. Chapter 28 has an improved presentation of classical dichotomy.