Macroeconomics Principles and Applications, Revised Edition with X-tra! CD-ROM and InfoTrac College Edition

by Hall, Robert E.; Lieberman, Marc

• ISBN13: 9780324151824
• ISBN10: 0324151829
• Edition: 2nd
• Format: Paperback
• Copyright: 2002-05-13
• Publisher: South-Western College Pub

Summary

Departing from the encyclopedic nature of most Principles texts, which encourages students to simply memorize concepts and see economics as a collection of unrelated terms, formulas, graphs, and theories, this text provides students with a picture of economics as a unified discipline; a set of interrelated tools and ideas that can be used to look at the world in a different way. This book's concise, less is more approach has been carefully crafted in terms of both content and supporting pedagogy to keep students focused on learning and applying the central ideas used in economic analysis. It uniquely employs a simple methodology throughout to emulate how economists look at problems, and teaches students how to use this same analytical process in developing their own economic analysis skills. Hall/Lieberman's careful focus on core theoretical ideas as well as systematically applying the theoretical tools to interesting real-world questions conveys the message that economics is an integrated, powerful body of knowledge that can be used to address important issues.

Table of Contents

PART I PRELIMINARIES
What Is Economics?	1	(19)
Scarcity, Choice, and Economic Systems	20	(26)
Supply and Demand	46	(35)
PART II MACROECONOMICS: BASIC CONCEPTS
What Macroeconomics Tries to Explain	81	(1)
Production, Income, and Employment	82	(42)
The Monetary System, Prices, and Inflation	124	(23)
PART III LONG-RUN MACROECONOMICS
The Classical Long-Run Model	147	(26)
Economic Growth and Rising Living Standards	173	(31)
PART IV SHORT RUN MACROECONOMICS
Economic Fluctuations	204	(18)
The Short-Run Macro Model	222	(41)
PART V MONEY, PRICES, AND THE MACROECONOMY
The Banking System	263	(27)
The Money Market and the Interest Rate	290	(26)
Aggregate Demand and Aggregate Supply	316	(31)
PART VI MACROECONOMIC POLICY
Inflation and Monetary Policy	347	(24)
Fiscal Policy: Taxes, Spending, and the Federal Budget	371	(25)
Exchange Rates and Macroeconomic Policy	396	(30)
USING ALL THE THEORY
The Stock Market and the Macroeconomy	426