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This text is well-known for using the Keynesian model in the teaching of economics; yet, in recent editions, the authors expanded coverage of the growth model considerably to achieve more balanced coverage. The text uses the aggregate supply/aggregate demand model as a fundamental tool for learning macroeconomics. It achieves the right level of rigor and detail, presenting complicated concepts in a relatively straightforward manner and using timely economic data. Using puzzles, issues, and well-developed examples, the authors provide a good balance of theory to application, allowing you to relate the materials to your everyday life.
Table of Contents
Getting Acquainted With Economics
What Is Economics?
The Economy: Myth and Reality
The Fundamental Economic Problem: Scarcity and Choice
Supply and Demand: An Initial Look
The Building Blocks Of Demand and Supply
Consumer Choice: Individual and Market Demand
Demand and Elasticity
Production, Inputs, and Cost: Building Blocks for Supply Analysis
Output, Price, and Profit: The Importance of Marginal Analysis
The Economics of the Stock Market
Markets and The Price System
The Firm and the Industry under Perfect Competition
Between Competition and Monopoly
Limiting Market Power: Regulation and Antitrust
The Virtues and Limitations Of Markets
The Case for Free Markets I: The Price System
The Shortcomings of Free Markets
The Market's Prime Achievement: Innovation and Growth
Externalities, the Environment and Natural Resources
Taxation and Resource Allocation
The Distribution of Income
Pricing the Factors of Production
Labor and Entrepreneurship: The Human Inputs
Poverty, Inequality, and Discrimination
The Macroeconomy: Aggregate Supply and Demand
An Introduction to Macroeconomics
The Goals of Macroeconomic Policy
Economic Growth: Theory and Policy
Aggregate Demand and the Powerful Consumer
Demand-Side Equilibrium: Unemployment or Inflation?
Bringing in the Supply Side: Unemployment and Inflation?
Fiscal and Monetary Policy
Managing Aggregate Demand: Fiscal Policy
Money and the Banking System
Managing Aggregate Demand: Monetary Policy
The Debate Over Monetary and Fiscal Policy
Fiscal Policy, Monetary Policy, and Growth
The Trade-off between Inflation and Unemployment
The United States In The World Economy
International Trade and Comparative Advantage
The International Monetary System: Order or Disorder?
Exchange Rates and the Macroeconomy
Table of Contents provided by Publisher. All Rights Reserved.