The Economics of Macro Issues

by Miller, Roger Leroy; Benjamin, Daniel K.

• ISBN13: 9780321197511
• ISBN10: 0321197518
• Format: Hardcover
• Copyright: 2004-01-01
• Publisher: Addison Wesley

Summary

Economics can be both entertaining and informative. This next text, by the authors of the market leading Economics of Public Issues, focuses solely on macroeconomic issues that include changes in the unemployment rate, inflation, the federal budget deficit, the international balance of payments, interest rates, and Social Security. This all-new text features 29 chapters that examine such compelling topics as the economics of an aging workforce, government spending and why it is growing so quickly, and the spread of overdraft charges.

Table of Contents

Rich nation, poor nation (importance of institutions in promoting economic growth)	p. 2
Return of the luddites : technophobia and economic growth (negative impact of fear of technology on economic growth)	p. 8
The lion, the dragon, and the tigers : economic growth in Asia (causes and consequences of rapid growth in China)	p. 15
Immigrants and economic growth (role of immigration in economic growth)	p. 21
Outsourcing and economic growth (impact of competition and voluntary exchange on wealth)	p. 27
Poverty, capitalism, and growth (does a rising tide lift all boats?)	p. 34
What's in a word? : plenty, if it's the "R" word (how a recession is defined and why we care)	p. 42
The case of the disappearing workers (misleading measures of unemployment)	p. 48
The graying of the workforce (economics of the aging workforce)	p. 54
The problem with deflation (economic consequences of deflation)	p. 60
The problem with inflation (economic consequences of inflation)	p. 66
Measuring GDP (what GDP does and doesn't tell us about the world)	p. 73
The return of big government (why government spending is growing so fast)	p. 82
The myths of social security (it's not what the government says it is, nor will it ever be)	p. 88
Macro disasters (why Uncle Sam intervenes after a disaster and what happens when he does)	p. 95
The brain gain (why lower taxes can mean greater wealth)	p. 102
Tax cuts when they matter, when they don't (differing economic implications of cutting taxes in different ways)	p. 108
Simplifying the federal tax system (don't hold your breath) (why the tax system is complicated - and won't ever be simplified)	p. 115
The future of the fed : new economy versus Inflation Targeting (has the Fed's mission changed - and should it?)	p. 124
Monetary policy and interest rates (long- and short-term effects of monetary policy on interest rates)	p. 130
The savings glut (how sophisticated financial markets help hide America's thrifty habits)	p. 136
Beating the market (why you can't beat the stock market, no matter how hard you try)	p. 141
Don't worry, your deposits are insured (economic implications of subsidized deposit insurance)	p. 147
The opposition to free trade (why people object to free international trade)	p. 156
The $750,000 job (economic consequences of attempts to restrict free trade)	p. 163
The trade revolution in textiles (why the textiles industry is once again moving)	p. 169
The trade deficit (it sounds bad and it looks ugly, but it's not necessarily either)	p. 176
The dollar versus the Euro : winner take all? (how the dollar and the euro are battling to become the world's money)	p. 184
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