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The Foundations of Macroeconomics by Bade/Parkin, fifth edition shines with a well-targeted content adjustment. In-text examples, dynamic chapter openers, and applications contain compelling content and real-world issues. We elevated MyEconLab (MEL) and integrated the story to ensure that it is a more visual feature.
This edition capitalizes on the seamless connection between the text and the e-environment to highlight how the authors’ emphasis on continuous practice is integrated throughout the entire Bade/Parkin learning system. The fifth edition MyEconLab course and the accompanying print supplements were written in tandem with the textbook.
Robin first taught the principles of economics course in 1970 and has taught it (alongside intermediate macroeconomics and international trade and finance) most years since then. She developed many of the ideas found in this text while conducting tutorials with her students at the University of Western Ontario.
Michael Parkin studied economics in England and began his university teaching career immediately after graduating with a BA from the University of Leicester. He learned the subject on the job at the University of Essex, England’s most exciting new university of the 9160s, and at the age of 30 became one of the youngest full professors. He is a past president of the Canadian Economics Association and has served on the editorial boards of the American Economic Review and the Journal of Monetary Economics. His research on macroeconomics, monetary economics, and international economics has resulted in more than 160 publications in journals and edited volumes, including the American Economic Review, the Journal of Political Economy, the Review of Economic Studies, the Journal of Monetary Economics, and the Journal of Money, Credit, and Banking. He is the author of the best-selling Addison-Wesley textbook, Economics.
Robin and Michael are a wife-and-husband duo. Their most notable joint research created the Bade-Parkin Index of central bank independence and spawned a vast amount of research on that topic. They don’t claim credit for the independence of the new European Central Bank, but its constitution and the movement toward greater independence of central banks around the world were aided by their pioneering work. They are dedicated to the challenge of explaining economics ever more clearly to an ever-growing body of students.
Table of Contents
1. Getting Stated
2. The U.S. and Global Economies
3. The Economic Problem
4. Demand and Supply
5. GDP: A Measure of Total Prouction and Income
6. Jobs and Unemployment
7.The CPI and Cost of Living
8. Potential GDP and the Natural Unemployment Rate
9. Economic Growth
10. Finance, Saving, and Investment
11. The Monetary System
12. Money, Interest, and Inflation
13. Aggregate Supply and Aggregate Demand
14. Aggregate Expenditure
15. The Short-Run Policy Tradeoff
16. Fiscal Policy
17. Monetary Policy
18. International Trade (unique)
19. International Finance