لایب سان

Ebook details:
عنوان: Principles of Macroeconomics
نویسنده: Economics Books @ Amazon.com
ناشر: Worth Publishers (December 23, 2019)
زبان: English
شابک: 1464186936, 978-1464186936

9781319252250, 1319252257
حجم: 400 Mb
فرمت: Epub + Converted Pdf

About this Book Cover Page Inside Front Cover Half Title Page Title Page Copyright Page Dedication About the Authors A Fresh Perspective on Economics Broad. Useful. Intuitive. Broadly Applicable Extraordinarily Useful Refreshingly Intuitive Build a Solid Foundation Four Core Principles. Endless Applications. Economic Intuition Begins with the Basics From Fundamentals to "One Economics" Useful Economics for the Real World Teaching Modern Economics Every Decision is an Economic Decision Micro Foundations of Macroeconomics A Flexible Approach to Business Cycle Models Applications That Keep It Real Tools That Prepare and Engage It Helps to Have a Navigation System The big picture The road ahead Every roadmap needs a landmark Marginal reminders Don’t Just Summarize … Synthesize Tying It Together Built-in study guide Chapter at a Glance Questions for discussion and assessment Practice the Process of Graphing Step-by-step breakdowns of key graphs Casual graphs model good economic habits Practice, practice, practice Technology That Supports Learning Everything You Need in a Single Learning Path Pre-class Tutorials Interactive Decision Points LearningCurve Adaptive Quizzing Step-by-Step Graphs End-of-chapter Activities with Graphing Questions Work It Out Activities Powerful Support for Instructors Assessment Test Bank End-of-Chapter Questions Practice Quizzes Additional Resources Gradebook LMS Integration Instructor’s Resource Manual Solutions Manual Lecture Slides Active Learning Resources Acknowledgments Organization of This Book Contents A Quick Review of Graphs Graphs That Break Down Numbers Pie Charts Analyzing Distributions Graphs That Show Comparisons Bar Chart and Dot Plot Time-Series Graphs Graphs That Show Relationships Scatterplot The stylized graphs of economics A Relationship Is Not the Same Thing as Cause and Effect Part I: Foundations of Economics Chapter 1: The Core Principles of Economics 1.1 A Principled Approach to Economics The Economic Approach A Systematic Framework for Making Decisions 1.2 The Cost-Benefit Principle Quantifying Costs and Benefits Maximize Your Economic Surplus Focus on Costs and Benefits, Not How They’re Framed Applying the Cost-Benefit Principle 1.3 The Opportunity Cost Principle Opportunity Costs Reflect Scarcity Calculating Your Opportunity Costs The “Or What?” Trick How Entrepreneurs Think About Opportunity Cost You Should Ignore Sunk Costs Applying the Opportunity Cost Principle The Production Possibility Frontier Recap: Evaluating Either/Or Decisions 1.4 The Marginal Principle When Is the Marginal Principle Useful? Using the Rational Rule to Maximize Your Economic Surplus Applying the Rational Rule 1.5 The Interdependence Principle Interdependency One: Dependencies Between Your Own Choices Interdependency Two: Dependencies Between People (or Businesses) Interdependency Three: Dependencies Between Markets Interdependency Four: Dependencies Over Time What Else? Tying It Together Chapter at a Glance End of Chapter Key Concepts Discussion and Review Questions Study Problems Chapter 2: Demand: Thinking Like a Buyer 2.1 Individual Demand: What You Want, at Each Price An Individual Demand Curve The Law of Demand 2.2 Your Decisions and Your Demand Curve Choosing the Best Quantity to Buy The Rational Rule for Buyers How Realistic Is This Theory of Demand? 2.3 Market Demand: What the Market Wants From Individual Demand to Market Demand The Market Demand Curve Is Downward-Sloping Movements Along the Demand Curve 2.4 What Shifts Demand Curves? The Interdependence Principle and Shifting Demand Curves Six Factors Shifting the Demand Curve 2.5 Shifts versus Movements Along Demand Curves Movements Along the Demand Curve Shifts in Demand Tying It Together Chapter at a Glance End of Chapter Key Concepts Discussion and Review Questions Study Problems Chapter 3: Supply: Thinking Like a Seller 3.1 Individual Supply: What You Sell, at Each Price An Individual Supply Curve The Law of Supply 3.2 Your Decisions and Your Individual Supply Curve Setting Prices in Competitive Markets Choosing the Best Quantity to Supply The Rational Rule for Sellers in Competitive Markets Rising Marginal Cost Explains Why Your Supply Curve Is Upward-Sloping How Realistic Is This Theory of Supply? 3.3 Market Supply: What the Market Sells From Individual Supply to Market Supply The Market Supply Curve Is Upward-Sloping Movements Along the Supply Curve 3.4 What Shifts Supply Curves? The Interdependence Principle and Shifting Supply Curves Five Factors Shifting the Supply Curve 3.5 Shifts versus Movements Along Supply Curves Movements Along the Supply Curve Shifts in Supply Tying It Together Chapter at a Glance End of Chapter Key Concepts Discussion and Review Questions Study Problems Chapter 4: Equilibrium: Where Supply Meets Demand 4.1 Understanding Markets What Is a Market? How Markets Are Organized 4.2 Equilibrium Supply Equals Demand Getting to Equilibrium Figuring Out Whether Markets Are in Equilibrium 4.3 Predicting Market Changes Shifts in Demand Shifts in Supply Predicting Market Outcomes When Both Supply and Demand Shift Interpreting Market Data Tying It Together Chapter at a Glance End of Chapter Key Concepts Discussion and Review Questions Study Problems Part II: Analyzing Markets Chapter 5: Welfare and Efficiency 5.1 Evaluating Public Policies Positive and Normative Policy Analysis Efficiency and Equity 5.2 Measuring Economic Surplus Consumer Surplus Producer Surplus Voluntary Exchange and Gains from Trade 5.3 Market Efficiency Question One: Who Makes What? Question Two: Who Gets What? Question Three: How Much Gets Bought and Sold? 5.4 Market Failure and Deadweight Loss Market Failure Deadweight Loss Market Failure versus Government Failure 5.5 Beyond Economic Efficiency Critiques of Economic Efficiency Tying It Together Chapter at a Glance End of Chapter Key Concepts Discussion and Review Questions Study Problems Chapter 6: Gains from Trade 6.1 Gains from Trade 6.2 Comparative Advantage Introducing Comparative Advantage Comparative Advantage in Action Markets Facilitate Gains from Trade Comparative Advantage Drives International Trade 6.3 Prices Are Signals, Incentives, and Information Role One: A Price Is a Signal Role Two: A Price Is an Incentive Role Three: A Price Aggregates Information 6.4 How Managers Can Harness Market Forces Internal Markets Allocate Resources Internal prediction markets can improve your forecasts. Tying It Together Chapter at a Glance End of Chapter Key Concepts Discussion and Review Questions Study Problems Chapter 7: International Trade 7.1 Comparative Advantage Is the Foundation of International Trade Comparative Advantage and International Trade What Gets Traded? Choosing Your Trading Partners: Sources of Comparative Advantage 7.2 How International Trade Shapes the Economy The World Market The Effects of Imports Imports Raise Economic Surplus The Effects of Exports Exports Raise Economic Surplus Who Wins, and Who Loses? The Politics of International Trade 7.3 The Debate About International Trade Five Arguments for Limiting International Trade An Intuitive Approach to the International Trade Debate 7.4 International Trade Policy Tools of Trade Policy Current Trade Policy 7.5 Effects of Globalization Globalization and the Labor Market Tying It Together Chapter at a Glance End of Chapter Key Concepts Discussion and Review Questions Study Problems Chapter 8: Inequality, Social Insurance, and Redistribution 8.1 Measuring Inequality Income Inequality Alternative Measures of Inequality 8.2 Poverty Defining Poverty Absolute versus Relative Poverty The Incidence of Poverty in the United States 8.3 Social Insurance, the Social Safety Net, and Redistributive Taxation The Social Safety Net Social Insurance Programs The Tax System 8.4 The Debate About Income Redistribution The Economic Logic of Redistribution The Costs of Redistribution: The Leaky Bucket The Trade-Off Between Efficiency and Equality Fairness and Redistribution Tying It Together Chapter at a Glance End of Chapter Key Concepts Discussion and Review Questions Study Problems Part III: Macroeconomic Foundations and the Long Run Chapter 9: Sizing Up the Economy Using GDP 9.1 GDP and the Macroeconomy From Microeconomics to Macroeconomics The Circular Flow Digging into the Definition of GDP 9.2 GDP Measures Total Spending, Output, and Income Perspective One: GDP Measures Total Spending Perspective Two: GDP Is Total Output Perspective Three: GDP Measures Total Income Recap: Three Perspectives on GDP 9.3 What GDP Captures and What It Misses Limitations of GDP GDP as a Measure of Living Standards 9.4 Real and Nominal GDP Real and Nominal GDP How to Calculate Real GDP 9.5 Millions, Billions, and Trillions The Problem of Big Numbers Four Strategies for Scaling Big Numbers Tying It Together Chapter at a Glance End of Chapter Key Concepts Discussion and Review Questions Study Problems Chapter 10: Economic Growth 10.1 Economic Growth Facts Economic Growth Since 1 Million B.C. Economic Growth Over the Past Two Centuries 10.2 The Ingredients of Economic Growth The Production Function Ingredient One: Labor and Total Hours Worked Ingredient Two: Human Capital Ingredient Three: Capital Accumulation New Recipes for Combining Ingredients: Technological Progress 10.3 The Analytics of Economic Growth Analyzing the Production Function Capital Accumulation and the Solow Model Technological Progress 10.4 Public Policy: Why Institutions Matter for Growth Property Rights Government Stability Efficiency of Regulation Government Policy to Encourage Innovation Tying It Together Chapter at a Glance End of Chapter Key Concepts Discussion and Review Questions Study Problems Chapter 11: Unemployment 11.1 Employment and Unemployment The Employed and the Unemployed Labor Force Participation The Unemployment Rate 11.2 The Dynamics of the Labor Market Labor Market Flows Alternative Measures of Unemployment 11.3 Understanding Unemployment Types of Unemployment Frictional Unemployment: It Takes Time to Find a Job Structural Unemployment: When Wages Are Stuck Above the Equilibrium Wage Institutions: Additional Causes of Structural Unemployment Recap: Frictional and Structural Unemployment 11.4 The Costs of Unemployment The Economic Costs of Unemployment The Social Costs of Unemployment Protecting Yourself from the Harmful Effects of Unemployment Tying It Together Chapter at a Glance End of Chapter Key Concepts Discussion and Review Questions Study Problems Chapter 12: Inflation and Money 12.1 Measuring Inflation The Price of a Basket of Goods and Services Constructing the Consumer Price Index and Measuring Inflation The Challenges of Measuring the True Cost of Living 12.2 Different Measures of Inflation Consumer Prices Business Prices 12.3 Adjusting for the Effects of Inflation Comparing Dollars over Time Real and Nominal Variables Real and Nominal Interest Rates Overcoming Money Illusion 12.4 The Role of Money and the Costs of Inflation The Functions of Money The Costs of Hyperinflation The Costs of Expected Inflation The Costs of Unexpected Inflation The Inflation Fallacy Tying It Together Chapter at a Glance End of Chapter Key Concepts Discussion and Review Questions Study Problems Part IV: Micro Foundations of Macroeconomics Chapter 13: Consumption and Saving 13.1 Consumption, Saving, and Income Consumption and Income Saving and Income 13.2 The Micro Foundations of Consumption Choosing How Much to Spend and How Much to Save The Rational Rule for Consumers Consumption Smoothing Permanent Income Hypothesis 13.3 The Macroeconomics of Consumption The Relationship Between Consumption and Income Adding Behavioral Economics and Credit Constraints to Our Analysis 13.4 What Shifts Consumption? Consumption Shifter One: Real Interest Rates Consumption Shifter Two: Expectations Consumption Shifter Three: Taxes Consumption Shifter Four: Wealth 13.5 Saving Saving Motive One: Changing Income over the Life Cycle Saving Motive Two: Changing Needs over the Life Cycle Saving Motive Three: Bequests Saving Motive Four: Precautionary Saving Smart Saving Strategies Tying It Together Chapter at a Glance End of Chapter Key Concepts Discussion and Review Questions Study Problems Chapter 14: Investment 14.1 Macroeconomic Investment Defining Investment Types of Investment Investment Is a Key Economic Variable 14.2 Tools to Analyze Investments Investment Tool One: Compounding Investment Tool Two: Discounting Real versus Nominal Interest Rates 14.3 Making Investment Decisions How to Evaluate an Investment Opportunity The Rational Rule for Investors An Alternative Perspective: The User Cost of Capital 14.4 The Macroeconomics of Investment The Real Interest Rate and Investment Factors That Shift the Investment Line 14.5 The Market for Loanable Funds Supply and Demand of Loanable Funds Shifts in the Supply of Loanable Funds Shifts in the Demand for Loanable Funds Tying It Together Chapter at a Glance End of Chapter Key Concepts Discussion and Review Questions Study Problems Chapter 15: The Financial Sector 15.1 Banks What Do Banks Do? Bank Runs Shadow Banks and the Financial Crisis 15.2 The Bond Market What Does the Bond Market Do? Evaluating Risks 15.3 The Stock Market What Do Stocks Do? Comparing Stocks and Bonds Understanding Stock Market Data 15.4 What Drives Financial Prices? Valuing Stocks The Efficient Markets Hypothesis The Value of Expert Advice Financial Bubbles 15.5 Personal Finance Tying It Together Chapter at a Glance End of Chapter Key Concepts Discussion and Review Questions Study Problems Chapter 16: International Finance and the Exchange Rate 16.1 International Trade and Global Financial Flows International Trade Global Financial Flows 16.2 Exchange Rates Exchanging U.S. Dollars for Foreign Currencies Exchange Rates and the Price of Foreign Goods 16.3 Supply and Demand of Currencies The Market for U.S. Dollars Shifts in Currency Demand Shifts in Currency Supply Forecasting Exchange Rate Movements Government Intervention in Foreign Exchange Markets 16.4 The Real Exchange Rate and Net Exports Real Exchange Rate and Competitiveness The Real Exchange Rate Determines Net Exports 16.5 The Balance of Payments The Current Account and The Financial Account Saving, Investment, and the Current Account Current Account Controversies Tying It Together Chapter at a Glance End of Chapter Key Concepts Discussion and Review Questions Study Problems Part V: The Business Cycle Chapter 17: Business Cycles 17.1 Macroeconomic Trends and Cycles Trend Growth and the Output Gap Business Cycles Are Not Cycles 17.2 Common Characteristics of Business Cycles Recessions Are Short and Sharp; Expansions Are Long and Gradual The Business Cycle Is Persistent The Business Cycle Impacts Many Parts of the Economy Okun’s Rule of Thumb Links the Output Gap and the Unemployment Rate 17.3 Analyzing Macroeconomic Data The Basics of Macroeconomic Data Top 10 Economic Indicators Tracking the Economy: An Economy Watcher’s Guide Tying It Together Chapter at a Glance End of Chapter Key Concepts Discussion and Review Questions Study Problems Chapter 18: IS-MP Analysis: Interest Rates and Output 18.1 Aggregate Expenditure Aggregate Expenditure and Short Run Fluctuations The Demand-Driven Short Run and the Supply-Driven Long Run 18.2 The IS Curve: Output and the Real Interest Rate Aggregate Expenditure and Interest Rates The IS Curve Describes the Link Between the Real Interest Rate and the Output Gap How to Use the IS Curve 18.3 The MP Curve: What Determines the Interest Rate The Federal Reserve The Risk Premium The MP Curve 18.4 The IS-MP Framework IS-MP Equilibrium Fluctuating Demand and Business Cycles Analyzing Monetary Policy Analyzing Fiscal Policy and the Multiplier 18.5 Macroeconomic Shocks Spending Shocks Shift the IS Curve Financial Shocks Shift the MP Curve Predicting Economic Changes Tying It Together Chapter at a Glance End of Chapter Key Concepts Discussion and Review Questions Study Problems Chapter 19: The Phillips Curve and Inflation 19.1 Three Inflationary Forces Inflationary Force One: Inflation Expectations Inflationary Force Two: Demand-Pull Inflation Inflationary Force Three: Supply Shocks and Cost-Push Inflation Understanding Inflation 19.2 Inflation Expectations Why Inflation Expectations Matter Measuring Inflation Expectations 19.3 The Phillips Curve Demand-Pull Inflation The Phillips Curve Framework The Phillips Curve in the United States An Alternative Illustration: The Labor Market Phillips Curve 19.4 Supply Shocks Shift the Phillips Curve How Supply Shocks Shift the Phillips Curve Phillips Curve Shifter One: Input Prices Phillips Curve Shifter Two: Productivity Phillips Curve Shifter Three: Exchange Rates Shifts versus Movements Along the Phillips Curve Tying It Together Chapter at a Glance End of Chapter Key Concepts Discussion and Review Questions Study Problems Chapter 20: The Fed Model: Linking Interest Rates, Output, and Inflation 20.1 The Fed Model The Fed Model Combines the IS, MP, and Phillips Curves Forecasting Economic Outcomes Three Types of Macroeconomic Shocks 20.2 Analyzing Macroeconomic Shocks A Recipe for Analyzing Macroeconomic Shocks Analyzing Financial Shocks Analyzing Spending Shocks Analyzing Supply Shocks 20.3 Diagnosing the Causes of Macroeconomic Changes A Brief Recap A Diagnosis Tool Tying It Together Chapter at a Glance End of Chapter Key Concepts Discussion and Review Questions Study Problems Chapter 21: Aggregate Demand and Aggregate Supply 21.1 The AD-AS Framework Introducing Aggregate Demand and Aggregate Supply Macroeconomic versus Microeconomic Forces 21.2 Aggregate Demand Aggregate Expenditure Why Aggregate Demand Is Downward-Sloping Analyzing Aggregate Demand Aggregate Demand Shifters 21.3 Aggregate Supply Why Aggregate Supply Is Upward-Sloping Analyzing Aggregate Supply Shifts in Aggregate Supply 21.4 Macroeconomic Shocks and Countercyclical Policy Monetary Policy Fiscal Policy and the Multiplier Forecasting Macroeconomic Outcomes 21.5 Aggregate Supply in the Short Run and the Long Run Aggregate Supply in the Long Run with Flexible Prices Aggregate Supply in the Very Short Run with Fixed Prices Aggregate Supply in the Short Run and Medium Run with Sticky Prices Getting from the Very Short Run to the Long Run Tying It Together Chapter at a Glance End of Chapter Key Concepts Discussion and Review Questions Study Problems Part VI: Macroeconomic Policy Chapter 22: Monetary Policy 22.1 The Federal Reserve The Federal Reserve System The Federal Open Market Committee 22.2 The Fed’s Policy Goals and Decision-Making Framework The Fed’s Dual Mandate: Stable Prices and Maximum Sustainable Employment How the Fed Chooses the Interest Rate 22.3 How the Fed Sets Interest Rates The Overnight Market for Interbank Loans The Impact of Changing the Federal Funds Rate on the Rest of the Economy 22.4 Unconventional Monetary Policy Monetary Policy Choices When Nominal Interest Rates Are Zero Lender of Last Resort Tying It Together Chapter at a Glance End of Chapter Key Concepts Discussion and Review Questions Study Problems Chapter 23: Government Spending, Taxes, and Fiscal Policy 23.1 The Government Sector Government Spending Government Revenue Hidden Government Spending: Tax Expenditures Regulation 23.2 Fiscal Policy A Countercyclical Force Automatic Stabilizers Fiscal Policy and Monetary Policy Interactions 23.3 Government Deficits and Debt Government Budget Deficits Government Debt Reasons Not to Worry About the Debt Reasons to Worry About Government Debt Tying It Together Chapter at a Glance End of Chapter Key Concepts Discussion and Review Questions Study Problems Appendix A: A Closer Look at Aggregate Expenditure and the Multiplier A.1 Aggregate Expenditure and Income Aggregate Expenditure Aggregate Expenditure Rises with Income How to Use the Aggregate Expenditure Line A.2 Macroeconomic Equilibrium and the Keynesian Cross Aggregate Expenditure in Macroeconomic Equilibrium Shifts in Aggregate Expenditure Predicting the State of the Economy A.3 The Multiplier The Multiplier Effect The Size of the Multiplier Tying It Together Chapter at a Glance End of Chapter Key Concepts Discussion and Review Questions Study Problems Glossary Index Back Cover

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