Michael Parkin is Professor Emeritus in the Department of Economics at the University of Western Ontario, Canada. Professor Parkin has held faculty appointments at Brown University, the University of Manchester, the University of Essex, and Bond University. He is a past president of the Canadian Economics Association and has served on the editorial boards of the American Economic Review and the Journal of Monetary Economics and as managing editor of the Canadian Journal of Economics. Professor Parkin’s research on macroeconomics, monetary economics, and international economics has resulted in over 160 publications in journals and edited volumes, including the American Economic Review, the Journal of Political Economy, the Review of Economic Studies, the Journal of Monetary Economics, and the Journal of Money, Credit and Banking. He became most visible to the public with his work on inflation that discredited the use of wage and price controls. Michael Parkin also spearheaded the movement toward European monetary union. Professor Parkin is an experienced and dedicated teacher of introductory economics.

Brief Table of Contents

PART ONE

INTRODUCTION

CHAPTER 1 What Is Economics?

CHAPTER 2 The Economic Problem

CHAPTER 3 Demand and Supply

PART TWO

MONITORING MACROECONOMIC PERFORMANCE

CHAPTER 4 Measuring GDP and Economic Growth

CHAPTER 5 Monitoring Jobs and Inflation

PART THREE

MACROECONOMIC TRENDS

CHAPTER 6 Economic Growth

CHAPTER 7 Finance, Saving, and Investment

CHAPTER 8 Money, the Price Level, and Inflation

CHAPTER 9 The Exchange Rate and the Balance of Payments

PART FOUR

MACROECONOMIC FLUCTUATIONS

CHAPTER 10 Aggregate Supply and Aggregate Demand

CHAPTER 11 Expenditure Multipliers: The Keynesian Model

CHAPTER 12 U.S. Inflation, Unemployment, and Business Cycle

PART FIVE

MACROECONOMIC POLICY

CHAPTER 13 Fiscal Policy

CHAPTER 14 Monetary Policy

CHAPTER 15 International Trade Policy

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