Principles of Macroeconomics 5E continues to focus on important concepts and analyses necessary for students in an introductory macroeconomics course. In keeping with the authors' philosophy of showing students the power of economic tools and the importance of economic ideas, this edition pays careful attention to regional and global policies and economic issues, such as climate change and resource taxation. This edition contains significantly updated chapters on inflation, monetary and fiscal policy, the Reserve Bank of Australia, cash rate, aggregate demand and aggregate supply to fit the current context of the Australian economic landscape. Accompanied by CourseMate, comprising flashcards, graphing workshops, games, quizzes, videos. Aplia is available with this text.
Part 1: Introduction 1. Ten lessons from economics 2. Thinking like an economist 3. Interdependence and the gains from trade Part II: Supply and demand: How markets work 4. The market forces of supply and demand 5. Elasticity and its application 6. Supply, demand and government policies Part III: The data of macroeconomics 7. Measuring a nations income 8. Measuring the cost of living Part IV: 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 V: Money and prices in the long run 12. The monetary system 13. Inflation: Its causes and costs Part VI: The macroeconomics of open economics 14. Open-economy macroeconomics: Basic concepts 15. A macroeconomic theory of the open economy Part VII: 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 VIII: Final thoughts 19. Five debates over macroeconomic policy
Tertiary; University or College
Number Of Pages: 504
Published: 1st December 2011
Publisher: Cengage Learning Australia