Betsey Stevenson and Justin Wolfers present a new synthesis of economic principles for a new generation of students. Their focus on useful economics employs compelling explanations and real-life examples to help students develop economic intuition and apply it to everyday decisions. The authors provide a fresh take on a wide range of principles topics and develop macroeconomics from its microfoundations in an engaging presentation that has drawn enthusiastic reviews from hundreds of instructors and thousands of students in pre-publication class-tests.In Principles of Macroeconomics, students will learn how the basic tools of economics can be applied to decisions that range from personal and professional goals to public policy and the broader economy. Combining fundamental theory with modern applications, familiar examples, and plenty of opportunities to practice using economic tools, Principles of Macroeconomics helps students to develop economic insight.
Principles of Macroeconomics is available with SaplingPlus online learning system. Our integrated, online learning system combines powerful multimedia resources with an integrated e-Book, robust homework, and a wealth of interactives, creating an extraordinary new learning resource for students.
Key features include:
- Online homework helps students get better grades with targeted instructional feedback tailored to the individual.
- Step-by-Step graphs break complex graphs and other figures into their component parts to help students understand how graphs are built and what they represent. Captions on each step help the students to understand what’s happening as the figures change.
- Decision Points allow students to explore their own decision-making process and how economic principles and thinking can inform their decisions. Students work step-by-step through decision-making scenarios, receiving feedback about how the economic principles did (or did not) play into their choices. Decision Points help students apply economic insights to their everyday lives.
Find out more about SaplingPlus at www.macmillanihe.com/sapling.Show Less
- An intuitive decision-making framework based on four key principles is referenced throughout the text and guides students to make better choices in all aspects of their lives
- Unparalleled presentation of the basics. Dedicated, full chapters on supply, demand, and equilibrium walk students patiently through these foundational concepts over several lectures to give students a deeper understanding of the ideas behind the curves, and builds a strong foundation for success in later chapters
- A unique approach to topics that matter in the real world. Students will learn how businesses, workers, and ideas compete across a range of market structures, how microfoundations underpin macroeconomic theory, how modern economists use models to understand the business cycle, and the implications for macroeconomic policy decisions
- A flexible presentation of Business Cycle Models. To convey the understanding of macroeconomic fluctuations, Stevenson and Wolfers offer a stylized version of the framework that the Federal Reserve uses to interpret the business cycle including the IS curve to explain spending decisions, MP curve to describe monetary policy, and Phillips curve to explain inflation. As an alternative, they also offers a full chapter on Aggregate Demand and Aggregate Supply
- Applications that keep it real. Features and content help students develop an intuitive understanding of fundamental economic concepts while consistently demonstrating that students' lives already involve-and will always involve-real economic decisions
- Everyday Economics: The authors invite students to apply their economic toolkit to the sorts of situations they'll face-from salary negotiations to the division of labor in their home
- Interpreting the Data: These features show students how to interpret real-world observations through an economic lens
- Do the Economics: These exercises confront students with real-life scenarios and challenge them to "do economics," by analyzing the underlying logic of each situation, and helping them work through the solutions
A Quick Review of Math and Graphing
PART I - Foundations of Economics
1 The Core Principles of Economics
2 Demand: Thinking Like a Buyer
3 Supply: Thinking Like a Seller
4 Where Supply Meets Demand
PART II - Analyzing Markets
5 Elasticity: Measuring Responsiveness
6 When Governments Intervene In Markets
7 Welfare and Efficiency
8 The Gains From Trade
PART III - Applications and Policy Issues
9 International Trade
11 The Labor Market
12 Wages, Workers, and Management
13 Inequality, Social Insurance and Redistribution
PART IV - Market Structure and Business Strategy
14 Market Structure and Market Power
15 Entry, Exit, and Long Run Profits
16 Business Strategy
17 Sophisticated Pricing Strategies
18 Game Theory & Strategic Choices
PART V - Advanced Decisions
19 Decisions under Uncertainty
20 Decisions with Private Information
PART VI - Economic Growth in the Long Run
21 Sizing Up the Economy
22 Economic Growth
PART VII - Micro Foundations of Macroeconomics
25 Consumption and Saving
27 The Financial Sector
28 International Finance and the Exchange Rate
PART VIII - The Business Cycle
29 Business Cycles
30 IS-MP Analysis: Interest Rates and Output
30A Aggregate Expenditure and the Multiplier
31 The Phillips Curve
32 The Fed Model: Linking Interest Rates, Output, and Inflation
33 Aggregate Demand and Aggregate Supply
PART IX - Macroeconomic Policy
34 Monetary Policy
35 Government Spending, Taxes, and Fiscal Policy.
- Step-by-Step graphs which break complex graphs and other figures into their component parts to help you understand how graphs are built and what they represent. Captions will help you to understand whats happening as the figures change.
- Decision Points allow you to explore your decision-making process and how economic principles and thinking can inform your decisions. You'll work step-by-step through decision-making scenarios, receiving feedback about how the economic principles did (or did not) play into your choices.
Contact your lecturer to find out if your university is adopting SaplingPlus.
ABOUT THE AUTHOR
- Macroeconomics N. Gregory Mankiw
- Macroeconomics (European Edition) N. Gregory Mankiw
- Macroeconomics William Mitchell, L. Randall Wray, Martin Watts
- An Introduction to International Macroeconomics Graham Bird
- Money, Banking and Financial Markets Laurence Ball
- Monetary Economics Keith Bain, Peter Howells
- Macroeconomics Eric J. Pentecost
- European Macroeconomics Robert J. Barro, Vittorio Grilli
- International Macroeconomics Emmanouel Pikoulakis
- The International Economy since 1945 W.M. Scammell
- A Course in Behavioral Economics Erik Angner
- Microeconomics: For Business & Society Stephen Rubb, Scott Sumner