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  • Edition: 12th
  • Format: Paperback
  • Copyright: 1/21/2015
  • Publisher: Pearson

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  • The New copy of this book will include any supplemental materials advertised. Please check the title of the book to determine if it should include any access cards, study guides, lab manuals, CDs, etc.
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MyEconLab does not come packaged with this content. If you would like to purchase both the physical text and MyEconLab search for ISBN-10: 0134004671/ISBN-13: 9780134004679. That package includes ISBN-10: 0133872645/ISBN-13: 9780133872644 and ISBN-10: 0133917568/ISBN-13: 9780133917567.

For the two-semester principles of economics course.


An intuitive and grounded approach to economics 

Get students to think like an Economist using the latest policy and data while incorporating global issues. Macroeconomics, Twelfth Edition builds on the foundation of the previous edition and retains a thorough and careful presentation of the principles of economics. Macroeconomics emphasizes real-world applications, the development of critical thinking skills, diagrams renowned for pedagogy and clarity, and path-breaking technology.


Each chapter begins with one of today’s key issues, and additional issues appear throughout the chapter to show the real-world applications of the theory being discussed. When the chapter concludes, students “read between the lines” to think critically about a news article relating to the issue, demonstrating how thinking like an economist can bring a clearer perspective to and deeper understanding of today’s events. Students will begin to think about issues the way real economists do and learn how to explore difficult policy problems to make more informed decisions in their own economic lives.


Also available with MyEconLab

MyEconLab is an online homework, tutorial, and assessment program designed to work with this text to engage students and improve results. Within its structured environment, students practice what they learn, test their understanding, and pursue a personalized study plan that helps them better absorb course material and understand difficult concepts.

Author Biography

Michael Parkin is Professor Emeritus in the Department of Economics at the University of Western Ontario, Canada. Professor Parkin has held faculty appointments at Brown University, the University of Manchester, the University of Essex, and Bond University. 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 and as managing editor of the Canadian Journal of Economics. Professor Parkin’s research on macroeconomics, monetary economics, and international economics has resulted in over 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 became most visible to the public with his work on inflation that discredited the use of wage and price controls. Michael Parkin also spearheaded the movement toward European monetary union. Professor Parkin is an experienced and dedicated teacher of introductory economics.


Table of Contents


1. What Is Economics?

2. The Economic Problem

3. Demand and Supply



4. Measuring GDP and Economic Growth

5. Monitoring Jobs and Inflation



6. Economic Growth

7. Finance, Saving, and Investment

8. Money, the Price Level, and Inflation

9. The Exchange Rate and the Balance of Payments



10. Aggregate Supply and Aggregate Demand

11. Expenditure Multipliers: The Keynesian Model

12. U.S. Inflation, Unemployment, and Business Cycle



13. Fiscal Policy

14. Monetary Policy

15. International Trade Policy

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