Description
MC GRAW HILL Principles Of Macroeconomics With Discoverecon Card 2007 Edition by FRANK
Avoiding excessive reliance on formal mathematical derivations, Frank and Bernanke presents concepts intuitively through examples drawn from familiar contexts. The authors introduce a well-articulated short list of core principles and reinforce them by illustrating and applying each in numerous contexts. Students are periodically asked to apply these principles to answer related questions and exercises. The text also encourages students to become "Economic Naturalists," people who employ basic economic principles to understand and explain what they observe in the world around them. An economic naturalist understands, for example, that infant safety seats are required in cars but not in airplanes because the marginal cost of space to accommodate these seats is typically zero in cars but often hundreds of dollars in airplanes. Such examples engage student interest while teaching them to see each feature of their economic landscape as the reflection of an implicit or explicit cost-benefit calculation. Part 1 Introduction 1. Thinking Like an Economist 2. Comparative Advantage: The Basis for Exchange 3. Supply and Demand: An Introduction Part 2 Macroeconomics: Issues and Data 4. Macroeconomics: The Bird's-Eye View of the Economy 5. Measuring Economic Activity: GDP and Unemployment 6. Measuring the Price Level and Inflation Part 3 The Economy in the Long Run 7. Economic Growth, Productivity, and Living Standards 8. Workers, Wages, and Unemployment in the Modern Economy 9. Saving and Capital Formation 10. Money and the Federal Reserve 11. Financial Markets and International Capital Flow Part 4 The Economy in the Short Run 12. Short-term Economic Fluctuations: An Introduction 13. Spending and Output in the Short Run 14. Stabilizing the Economy: The Role of the Fed 15. Inflation, Aggregate Supply, and Aggregate Demand 16. The Practice and Pitfalls of Macroeconomic Policy Part 5 The International Economy 17. International Trade 18. Exchange Rates and the Open Economy