Shortlisted for 2009 Australian Educational Publishing Awards.
Showing the power of economic tools and the importance of economic ideas, this forth edition of Principles of Macroeconomics continues to focus on what is truly important for students to learn in their first macroeconomics course.
With an engaging approach to the study of the economy, the text returns to applications and policy questions as often as possible, encouraging students to relate ecomonic theory to their own experiences. Designed for students in Australia and New Zealand, this new edition incorporates contemporary topics such as the effects of the US sub-prime market, increased trading with China and India, the RBA, interest rates and monetary policy.
Comprehensively revised and updated, the text enables students to understand the important foundations of economic analysis in a practical real-world context.
Publisher: Cengage Learning EMEA
Number of pages: 504
Weight: 1290 g
Dimensions: 254 x 216 x 23 mm
Edition: 4th Revised edition
Part 1: Introduction 1. Ten lessons from economics 2. Thinking like an economist 3. Interdependence and the gains from trade Part 2: Supply and demand I: How markets work 4. The market forces of supply and demand 5. Elasticity and its application 6. Supply, demand and government policies Part 3: The data of macroeconomics Chapter 7 Measuring a nation's income Chapter 8 Measuring the cost of living Part 4: The real economy in the long run 9. Production and growth 10. Saving, investment and the financial system 11. The natural rate of unemployment Part 5: Money and prices in the long run 12. The monetary system 13. Inflation: Its causes and costs Part 6: The macroeconomics of open economies 14. Open-economy macroeconomics: Basic concepts 15. A macroeconomic theory of the open economy Part 7: Short-run economic fluctuations 16. Aggregate demand and aggregate supply 17. The influence of monetary and fiscal policy on aggregate demand 18. The short-run trade-off between inflation and unemployment Part 8: Final thoughts 19. Five debates over macroeconomic policy