The Economics of Macro Issues

by Miller, Roger LeRoy; Benjamin, Daniel K.

• ISBN13: 9780321416599
• ISBN10: 0321416597
• Edition: 3rd
• Format: Paperback
• Copyright: 2008-01-01
• Publisher: Addison Wesley

Summary

The Economics of Macro Issuesis a collection of brief, relevant readings that spark independent thinking and classroom discussions in principles of economics courses.The Miracle of Economic Growth:Rich Nation, Poor Nation; Return of the Luddites: Technophobia and Economic Growth; The Dragon and the Tigers: Economic Growth in Asia; Immigrants and Economic Growth; Outsourcing and Economic Growth; Poverty and Economic Growth.The Business Cycle, Unemployment, and Inflation:Whatrs"s in a Word? Plenty, If Itrs"s the "R" Word; The Case of the Disappearing Workers; The Graying of the Workforce; The Problem with Deflation; The Problem with Inflation; Measuring GDP.Fiscal Policy:The Return of Big Government; The Myths of Social Security; Macro Disasters; The Brain Gain; Tax Cuts: When They Matter, When They Donrs"t; Simplifying the Federal Tax System (Donrs"t Hold Your Breath); Raising the Debt Ceiling-Whatrs"s a Few of Trillion Dollars, More or Less?.Monetary Policy and Financial Institutions:The Future of the Fed: New Economy Versus Inflation-targeting; Monetary Policy and Interest Rates; The Savings Glut; Beating the Market; Donrs"t Worry: Your Deposits are Insured.International Trade and Finance:The Opposition to Free Trade; The $750,000 Job; The Trade Revolution in Textiles; The Trade Deficit; The Dollar versus the Euro: Winner Take All?For all readers interested in macroeconomic issues.

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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