Principles of Macroeconomics

ISBN-10: 0324236956
ISBN-13: 9780324236958
Edition: 4th 2007
List price: $341.95 Buy it from $3.00
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Description: PRINCIPLES OF MACROECONOMICS continues to be the most popular and widely used text in the economics classroom. The 4th edition features a strong revision of content in all 23 chapters while maintaining the clear and accessible writing style that is  More...

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Book details

List price: $341.95
Edition: 4th
Copyright year: 2007
Publisher: Cengage South-Western
Publication date: 2/17/2006
Binding: Paperback
Pages: 616
Size: 8.25" wide x 9.75" long x 1.00" tall
Weight: 2.398
Language: English

PRINCIPLES OF MACROECONOMICS continues to be the most popular and widely used text in the economics classroom. The 4th edition features a strong revision of content in all 23 chapters while maintaining the clear and accessible writing style that is the hallmark of the highly respected author. The 4th edition also features an expanded instructor's resource package designed to assist instructors in course planning and classroom presentation and full integration of content with Aplia, the leading online Economics education program. In the 4th edition Greg Mankiw has created a full educational program for students and instructors -- Experience Mankiw 4e. "I have tried to put myself in the position of someone seeing economics for the first time. My goal is to emphasize the material that students should and do find interesting about the study of the economy." ? N. Gregory Mankiw.

N. Gregory Mankiw is Professor of Economics at Harvard University.

Preface: To the Instructor
Preface: To the Student
Introduction
Ten Principles of Economics
How People Make Decisions
How People Interact
How the Economy as a Whole Works
Conclusion
Summary
Key Concepts
Questions for Review
Problems and Applications
Thinking Like an Economist
The Economist as Scientist
The Economist as Policy Adviser
Why Economists Disagree
Let's Get Going
Summary
Key Concepts
Questions for Review
Problems and Applications
Graphing: A Brief Review
Interdependence and the Gains from Trade
A Parable for the Modern Economy
Comparative Advantage: The Driving Force of Specialization
Applications of Comparative Advantage
Conclusion
Summary
Key Concepts
Questions for Review
Problems and Applications
How Markets Work
The Market Forces of Supply and Demand
Markets and Competition
Demand
Supply
Supply and Demand Together
Conclusion: How Prices Allocate Resources
Summary
Key Concepts
Questions for Review
Problems and Applications
Elasticity and its Application
The Elasticity of Demand
The Elasticity of Supply
Three Applications of Supply, Demand, and Elasticity
Conclusion
Summary
Key Concepts
Questions for Review
Problems and Applications
Supply, Demand, and Government Policies
Controls on Prices
Taxes
Conclusion
Summary
Key Concepts
Questions for Review
Problems and Applications
Markets and Welfare
Consumers, Producers, and the Efficiency of Markets
Consumer Surplus
Producer Surplus
Market Efficiency
Conclusion: Market Efficiency and Market Failure
Summary
Key Concepts
Questions for Review
Problems and Applications
Application: The Costs of Taxation
The Deadweight Loss of Taxation
The Determinants of the Deadweight Loss
Deadweight Loss and Tax Revenue as Taxes Vary
Conclusion
Summary
Key Concept
Questions for Review
Problems and Applications
Application: International Trade
The Determinants of Trade
The Winners and Losers from Trade
The Arguments for Restricting Trade
Conclusion
Summary
Key Concepts
Questions for Review
Problems and Applications
The Data of Macroeconomics
Measuring a Nation's Income
The Economy's Income and Expenditure
The Measurement of Gross Domestic Product
The Components of GDP
Real versus Nominal GDP
Is GDP a Good Measure of Economic Well-Being?
Conclusion
Summary
Key Concepts
Questions for Review
Problems and Applications
Measuring the Cost of Living
The Consumer Price Index
Correcting Economic Variables for the Effects of Inflation
Conclusion
Summary
Key Concepts
Questions for Review
Problems and Applications
The Real Economy in the Long Run
Production and Growth
Economic Growth around the World
Productivity: Its Role and Determinants
Economic Growth and Public Policy
Conclusion: The Importance of Long-Run Growth
Summary
Key Concepts
Questions for Review
Problems and Applications
Saving, Investment, and the Financial System
Financial Institutions in the U.S. Economy
Saving and Investment in the National Income Accounts
The Market for Loanable Funds
Conclusion
Summary
Key Concepts
Questions for Review
Problems and Applications
The Basic Tools of Finance
Present Value: Measuring the Time Value of Money
Managing Risk
Asset Valuation
Conclusion
Summary
Key Concepts
Questions for Review
Problems and Applications
Unemployment
Identifying Unemployment
Job Search
Minimum-Wage Laws
Unions and Collective Bargaining
The Theory of Efficiency Wages
Conclusion
Summary
Key Concepts
Questions for Review
Problems and Applications
Money and Prices in the Long Run
The Monetary System
The Meaning of Money
The Federal Reserve System
Banks and the Money Supply
Conclusion
Summary
Key Concepts
Questions for Review
Problems and Applications
Money Growth and Inflation
The Classical Theory of Inflation
The Costs of Inflation
Conclusion
Summary
Key Concepts
Questions for Review
Problems and Applications
The Macroeconomics of Open Economies
Open-Economy Macroeconomics: Basic Concepts
The International Flows of Goods and Capital
The Prices for International Transactions: Real and Nominal Exchange Rates
A First Theory of Exchange-Rate Determination: Purchasing-Power Parity
Conclusion
Summary
Key Concepts
Questions for Review
Problems and Applications
A Macroeconomic Theory of the Open Economy
Supply and Demand for Loanable Funds and for Foreign-Currency Exchange
Equilibrium in the Open Economy
How Policies and Events Affect an Open Economy
Conclusion
Summary
Key Concepts
Questions for Review
Problems and Applications
Short-Run Economic Fluctuations
Aggregate Demand and Aggregate Supply
Three Key Facts about Economic Fluctuations
Explaining Short-Run Economic Fluctuations
The Aggregate-Demand Curve
The Aggregate-Supply Curve
Two Causes of Economic Fluctuations
Conclusion
Summary
Key Concepts
Questions for Review
Problems and Applications
The Influence of Monetary and Fiscal Policy on Aggregate Demand
How Monetary Policy Influences Aggregate Demand
How Fiscal Policy Influences Aggregate Demand
Using Policy to Stabilize the Economy
Conclusion
Summary
Key Concepts
Questions for Review
Problems and Applications
The Short-Run Trade-Off Between Inflation and Unemployment
The Phillips Curve
Shifts in the Phillips Curve: The Role of Expectations
Shifts in the Phillips Curve: The Role of Supply Shocks
The Cost of Reducing Inflation
Conclusion
Summary
Key Concepts
Questions for Review
Problems and Applications
Final Thoughts
Five Debates Over Macroeconomic Policy
Should Monetary and Fiscal Policymakers Try to Stabilize the Economy?
Should Monetary Policy Be Made by Rule Rather Than by Discretion?
Should the Central Bank Aim for Zero Inflation?
Should the Government Balance Its Budget?
Should the Tax Laws Be Reformed to Encourage Saving?
Conclusion
Summary
Questions for Review
Problems and Applications
Quick Quiz Answers
Glossary
Index

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