Full Description
The economy is tough -- but understanding macroeconomics doesn't have to be. In fact, opening the world of economics can be exciting with Arnold's popular MACROECONOMICS, 14E. Economic tools, new thinking and theories show you how macroeconomic forces impact daily events and form an important part of life 24/7. Current, everyday macroeconomic examples and updated discussions and learning features illustrate many unexpected places economics can occur. You learn what money is and isn't, how supply and demand play out on a freeway, how a person pays for good weather and why some countries are rich while others are poor. A new chapter examines the economic forces behind creative destruction and crony capitalism. Revised coverage of the Federal Reserve System reviews changes in monetary policy. Digital video lectures and digital features guide you in understanding macroeconomic diagrams and building graphs, while online MindTap, Aplia and A+ Test Prep help you assess your understanding.
Contents
An Introduction to Economics.
Part I: ECONOMICS: THE SCIENCE OF SCARCITY.
1. What Economics Is About.
Appendix A: Working with Diagrams.
Appendix B: Should You Major in Economics?
2. Production Possibilities Frontier Framework.
3. Supply and Demand: Theory.
4. Prices: Free, Controlled, and Relative.
5. Supply, Demand, and Price: Applications.
Macroeconomics.
Part II: MACROECONOMIC FUNDAMENTALS.
6. Macroeconomic Measurements, Part I: Prices and Unemployment.
7. Macroeconomic Measurements, Part II: GDP and Real GDP.
Part III: MACROECONOMIC STABILITY, INSTABILITY, AND FISCAL POLICY.
8. Aggregate Demand and Aggregate Supply.
9. Classical Macroeconomics and the Self-Regulating Economy.
10. Keynesian Macroeconomics and Economic Instability: A Critique of the Self-Regulating Economy.
11. Fiscal Policy and the Federal Budget.
Part IV: MONEY, THE ECONOMY, AND MONETARY POLICY.
12. Money, Banking and the Financial System.
13. The Federal Reserve System.
14. Money and the Economy.
15. Monetary Policy.
Appendix C: Bond Prices and Interest Rates.
Part V: EXPECTATIONS AND GROWTH.
16. Expectations Theory and the Economy.
17. Economic Growth: Resources, Technology, Ideas, and Institutions.
Part VI: CREATIVE DESTRUCTION AND CRONY CAPITALISM.
18. Creative Destruction and Crony Capitalism: Two Forces on the Economic Landscape Today
International Economics.
Part VII: INTERNATIONAL TRADE AND FINANCE.
19. International Trade.
20. International Finance.
