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Loose-Leaf Principles of Macroeconomics,9780077464356
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Loose-Leaf Principles of Macroeconomics



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This is the 5th edition with a publication date of 2/22/2012.

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In recent years, innovative texts in mathematics, science, foreign languages, and other fields have achieved dramatic pedagogical gains by abandoning the traditional encyclopedic approach in favor of teaching a shorter list of core principles in depth. Two well-respected writers and researchers, Bob Frank and Ben Bernanke, have shown that the less-is-more approach affords similar gains in introductory economics. The authors introduce a coherent short list of core principles and reinforce them by illustrating and applying each in numerous contexts. With engaging questions, explanations and exercises, the authors help students relate economic principles to a host of everyday experiences such as going to the ATM or purchasing airline tickets. Throughout this process, the authors encourage students to become “economic naturalists:” people who employ basic economic principles to understand and explain what they observe in the world around them.

Principles of Macroeconomics, fifth edition, is thoroughly updated with examples that connect to current events such as the financial crisis of 2008 and Great Recession of 2007-2009 as well as other topics commonly discussed in the media. In addition, the text is paired with McGraw-Hill’s market-leading online assignment and assessment solution Connect Economics, providing tools to enhance course management and student learning.

Table of Contents

Part 1 Introduction

1. Thinking Like an Economist

2. Comparative Advantage

3. Supply and Demand

Part 2 Macroeconomics: Data and Issues

4. Spending, Income, and GDP

5. Inflation and the Price Level

6. Wages and Unemployment

Part 3 The Economy in the Long Run

7. Economic Growth

8. Saving, Capital Formation, and Financial Markets

9. Money, Prices, and the Financial System

Part 4 The Economy in the Short Run

10. Short-term Economic Fluctuations

11. Spending, Output, and Fiscal Policy

12. Monetary Policy and the Federal Reserve

13. Aggregate Demand, Aggregate Supply, and Business Cycles

14. Macroeconomic Policy

Part 5 The International Economy

15. Exchange Rates, International Trade, and Capital Flows

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