The Economics Of Macro Issues

by Miller, Roger LeRoy; Benjamin, Daniel K.

• ISBN13: 9780321303592
• ISBN10: 0321303598
• Edition: 2nd
• Format: Paperback
• Copyright: 2006-01-01
• Publisher: Addison Wesley

Summary

The Economics of Macro Issues, Second Edition, is the ideal source for thought-provoking, relevant readings for your principles of economics course. Written to engage students in the ongoing debate on national economics policies, The Economics of Macro Issues explains the economics of hot issues such as job outsourcing and the national deficit and invites the reader to draw his or her own conclusions.

Table of Contents

Preface	ix
PART ONE The Miracle of Economic Growth	1	(36)
1 Rich Nation, Poor Nation	3	(6)
(importance of institutions in promoting economic growth)
2 Return of the Luddites: Technophobia and Economic Growth	9	(7)
(negative impact of fear of technology on economic growth)
3 The Dragon and the Tigers: Economic Growth in Asia	16	(21)
(causes and consequences of rapid growth in China)
4 Immigrants and Economic Growth 22
(role of immigration in economic growth)
5 Outsourcing and Economic Growth 28
(impact of competition and voluntary exchange on wealth)
PART TWO The Business Cycle, Unemployment, and Inflation	37	(42)
6 What's in a Word? Plenty, If It's the 'R' Word	39	(6)
(how a recession is defined and why we care)
7 The Case of the Disappearing Workers	45	(6)
(misleading measures of unemployment)
8 The Graying of the Workforce	51	(6)
(economics of the aging workforce)
9 The Problem with Deflation	57	(6)
(economic consequences of deflation)
10 The Problem with Inflation	63	(7)
(economic consequences of inflation)
11 The Futility of Price Controls	70	(9)
(economic consequences of price controls)
PART THREE Fiscal Policy	79	(42)
12 The Return of Big Government	81	(6)
(why government spending is growing so fast)
13 The Myths of Social Security	87	(7)
(it's not what government says it is, nor will it ever be)
14 Tax Cuts: When They Matter, When They Don't	94	(8)
(differing economic implications of cutting taxes in different ways)
15 Simplifying the Federal Tax System (Don't Hold Your Breath)	102	(7)
(why the tax system is complicated-and won't ever be simplified)
16 Raising the Debt Ceiling-What's a Few Trillion Dollars, More or Less?	109	(6)
(why the national debt is smaller than it seems)
17 Bad Accounting by Uncle Sam	115	(6)
(why the president's ten-year budget projections are always too rosy)
PART FOUR Monetary Policy and Financial Institutions	121	(32)
18 The Future of the Fed: New Economy versus Inflation Targeting	123	(5)
(perhaps the Fed's mission has changed. Should it?)
19 Monetary Policy and Interest Rates	128	(7)
(long- and short-term effects of monetary policy on interest rates)
20 Beating the Market	135	(6)
(why you can't beat the stock market, no matter how hard you try)
21 The Case against Cash	141	(5)
(why the use of cash is discouraged by the government)
22 Don't Worry: Your Deposits Are Insured	146	(7)
(economic implications of subsidized deposit insurance)
PART FIVE International Trade and Finance	153	(42)
23 The Opposition to Free Trade	155	(7)
(why people object to free international trade)
24 The $750,000 Job	162	(6)
(economic consequences of attempts to restrict free trade)
25 The Trade Revolution in Textiles	168	(7)
(why the textiles industry is once again moving)
26 The Trade Deficit	175	(8)
(it sounds bad and it looks ugly, but it's not necessarily either)
27 The Dollar Standard	183	(5)
(why the dollar is still the leading currency in the world)
28 The Euro: Promise and Peril	188	(7)
(why the euro exists and why it might not last)
Glossary	195	(10)
Selected References and Web Links	205	(10)
Index	215