I. Introduction 1. Economics: Foundations and Models 2. Trade-offs, Comparative Advantage, and the Market System 3. Where Prices Come From: The Interaction of Demand and Supply 4. Economic Efficiency, Government Price Setting, and Taxes 5. The Economics of Health Care II. Firms in the Domestic and International Economies 6. Firms, the Stock Market, and Corporate Governance 7. Comparative Advantage and the Gains from International Trade III. Macroeconomic Foundations and Long-Run Growth 8. GDP: Measuring Total Production and Income 9. Unemployment and Inflation 10. Economic Growth, the Financial System, and Business Cycles 11. Long-Run Economic Growth: Sources and Policies IV. Short-Run Fluctuations 12. Aggregate Expenditure and Output in the Short Run 13. Aggregate Demand and Aggregate Supply Analysis V. Monetary and Fiscal Policy 14. Money, Banks, and the Federal Reserve System 15. Monetary Policy 16. Fiscal Policy 17. Inflation, Unemployment, and Federal Reserve Policy VI. The International Economy 18. Macroeconomics in an Open Economy 19. The International Financial System
For Principles of Macroeconomics courses at two- and four-year colleges and universities
Reveal the relevance of economics through real-world business examples
One of the challenges of teaching Principles of Macroeconomics is fostering interest in concepts that may not seem applicable to students' lives. Macroeconomics, Fifth Edition makes economics relevant by demonstrating how real businesses use economics to make decisions every day. Regardless of their future career path—opening an art studio, trading on Wall Street, or bartending at the local pub—students will benefit from understanding the economic forces behind their work.
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