Overview
Main description
In recent years, innovative texts in mathematics, science, foreign languages, and other fields have achieved dramatic pedagogical gains by abandoning the traditional encyclopedic approach in favor of teaching a shorter list of core principles in depth.
Two well-respected writers and researchers, Bob Frank and Ben Bernanke, have shown that the less-is-more approach affords similar gains in introductory economics. The authors introduce a coherent short list of core principles and reinforce them by illustrating and applying each in numerous contexts. With engaging questions, explanations and exercises, the authors help students relate economic principles to a host of everyday experiences such as going to the ATM or purchasing airline tickets. Throughout this process, the authors encourage students to become “economic naturalists:” people who employ basic economic principles to understand and explain what they observe in the world around them.
Principles of Macroeconomics
, fifth edition, is thoroughly updated with examples that connect to current events such as the financial crisis of 2008 and Great Recession of 2007-2009 as well as other topics commonly discussed in the media. In addition, the text is paired with McGraw-Hill’s market-leading online assignment and assessment solution Connect Economics, providing tools to enhance course management and student learning.
Table of contents
Part 1 Introduction 1. Thinking Like an Economist2. Comparative Advantage3. Supply and DemandPart 2 Macroeconomics: Data and Issues4. Spending, Income, and GDP5. Inflation and the Price Level6. Wages and UnemploymentPart 3 The Economy in the Long Run7. Economic Growth8. Saving, Capital Formation, and Financial Markets9. Money, Prices, and the Financial System Part 4 The Economy in the Short Run10. Short-term Economic Fluctuations 11. Spending, Output, and Fiscal Policy12. Monetary Policy and the Federal Reserve13. Aggregate Demand, Aggregate Supply, and Business Cycles 14. Macroeconomic PolicyPart 5 The International Economy15. Exchange Rates, International Trade, and Capital Flows
