From the major economic crisis to the budget deficits of the United States, the detailed boxes in this text have been updated to convey the life of macroeconomics today and reinforce the lessons from the models, making them more concrete and easier to grasp.
The book is organized in a flexible manner around two central parts: A core and a set of three major extensions. Provides students with a unified view of macroeconomics. Offers increased depth on the subject matter. A flowchart on the front end-paper makes it easy to see how the chapters are organized, and fit within the book’s overall structure.
Current macroeconomic events are integrated into each chapter of the book within the text and detailed boxes. Each box shows students how they can use what they’ve learned to get an understanding of economics in the real-world.
2: A Tour of the Book
3: The Goods Market
4: Financial Markets
5: Goods and Financial Markets: The IS-LM Model
6: The Labor Market
7 Putting All Markets Together: The AS/AD Model
8: The Phillips Curve, the Natural Rate of Unemployment, and Inflation
9: The Crisis
10: The Facts of Growth
11: Saving, Capital Accumulation, and Output
12: Technological Progress and Growth
13: Technological Progress: The Short, the Medium, and the Long Run
14: Expectations: The Basic Tools
15: Financial Markets and Expectations
16: Expectations, Consumption, and Investment
17: Expectations, Output, and Policy
18: Openness in Goods and Financial Markets
19: The Goods Market in an Open Economy
20: Output, the Interest Rate, and the Exchange Rate
21: Exchange Rate Regimes
22: Should Policy Makers be Restrained?
23: Fiscal Policy: A Summing Up
24: Monetary Policy: A Summing Up
25: Epilogue: The Story of Macroeconomics