Principles of Macroeconomics

by Taylor, John B.

• ISBN13: 9780618393992
• ISBN10: 0618393994
• Edition: 4th
• Format: Paperback
• Copyright: 2003-05-06
• Publisher: South-Western College Pub

Summary

InPrinciples of Macroeconomics,noted economist and teacher John Taylor unravels sophisticated material by combining clear, straightforward writing with annotated graphs and real-life examples that drive students' interest in modern economic theory. Taylor's unique approach to macroeconomics (covering long-run fundamentals before short-term economic fluctuations) helps students establish a firm grounding in the basic determinants of growth before they are introduced to the fluctuations that can occur even during periods of steady growth. The Student Technology Package is automatically bundled for free with all new copies of the textbook sold in the U.S. This package includes access to both SMARTHINKING online tutoring and the student textbook web site, as well as the Taylor Tutorial CD-ROM and a Technology Guide.

Table of Contents

Introduction to Economics

The Central Idea

Observing and Explaining the Economy

Appendix: Reading, Understanding, and Creating Graphs

The Supply and Demand Model

Elasticity and Its Uses

Principles of Macroeconomics

Macroeconomics: The Big Picture

Appendix: The Miracle of Compound Growth

Measuring the Production, Income, and Spending of Nations

The Spending Allocation Model

Unemployment and Employment

Productivity and Economic Growth

Appendix: Deriving the Growth Accounting Formula

Money and Inflation

Economic Fluctuations and Macroeconomic Policy

The Nature and Causes of Economic Fluctuations

Appendix: Deriving the Formula for the Keynesian Multiplier and the Forward-Looking Consumption Model

The Economic Fluctuations Model

Using the Economic Fluctuations Model

Fiscal Policy

Monetary Policy

Financial Markets

Trade and Global Markets

Economic Growth Around the World

The Gains from International Trade

International Trade Policy

Transition Economies

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