Publisher's Synopsis
This edition makes outstanding use of timely real-world examples, while laying important foundations in the fundamentals. Interactive student learning, real data and examples, and abundant graphical support characterize its modern presentation. Strong pedagogy, clear writing style and outstanding graphics virtually assure the benchmark status of this mainstream prinicples text. Features: * Real data and examples illustrate theory and principles. * High-quality graphs and data. * An entire, in-depth chapter on interest rates supplies a relatively simple analytical framework together with comprehensive description of the macroeconomic influences. * Early international coverage in chapters 1 and 2 permit international topics to be integrated throughout the text. * Thorough coverage of supply and demand in the core chapters 1-7 provide a solid foundation in principles of macro. * A full chapter on labor market differences by gender, race and ethnicity (Chapter 32), demonstrates how students may apply economic analysis to an issue of direct relevance and political importance. * Modern coverage of international trade (Chapter 37).;* Separate chapter (36) applies economice tools to the issues and includes a case study of government intervention in markets. * Clear and comprehensive coverage, drawing many positive reviews and loyal users, of the following topics: fundamentals of supply and demand, economics of budget deficits, trade restrictions, Federal Reserve tools of policy, causes of the productivity slowdown, causes and consequences of exchange rate changes, the Phillips curve, behaviour of interest rates, velocity of money, supply-side economics, economics of LDC's. * Strong pedagogy includes motivational introductions, boldfaced Key Terms and margin definitions, real-life exhibits, "Your Turn" boxes, chapter summaries, study questions, and references, and outstanding graphs and tables depicting historical developments as well as current data. New to this edition: * New Chapter 8 introduces fundamental concepts of macroeconomics. These and other topics are now introduced before getting into the basic model of AS/AD. * New coverage of public choice analysis stimulates discussion of whether government intervention works or not. * Gross Domestic Product (GDP) replaces gross national product (GNP).
