Because issues of policy and real applications are important to the principles of macroeconomics course, Hall and Lieberman have made their comprehensive, cutting edge text as current as today's headlines. MACROECONOMICS: PRINCIPLES AND APPLICATIONS, 3e, 2006 Update gives students a real-world, up-to-the-minute overview that presents economics as a unified discipline. Taking a no-nonsense approach to economic theory and application, this 2006 Update is very accessible, equipping readers with a solid foundation in economics that they can build upon wherever their career paths may lead. The authors' modern approach to theory is captivating and appeals to a broad range of teaching styles and philosophies. This proven author team focuses on core theoretical ideas and presents a systematic application of theoretical tools to real-world domestic and global issues, teaching students how to use analytical processes to develop and sharpen their own economic analysis skills. In addition, the book's innovative Aplia homework management solution provides the most integrated text and homework management system available.
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Meet the Author
Robert E. Hall is a prominent applied economist. He is the Robert and Carole McNeil Professor of Economics at Stanford University and Senior Fellow at Stanford's Hoover Institution where he conducts research on inflation, unemployment, taxation, monetary policy, and the economics of high technology. He received his Ph.D. from MIT and has taught there as well as at the University of California, Berkeley. Hall is Director of the research program on Economic Fluctuations of the National Bureau of Economic Research, and Chairman of the Bureau's Committee on Business Cycle Dating, which maintains the semiofficial chronology of the U.S. business cycle. He has published numerous monographs and articles in scholarly journals, and coauthored a popular intermediate text. Hall has advised the Treasury Department and the Federal Reserve Board on national economic policy, and has testified on numerous occasions before congressional committees.
Marc Lieberman is Clinical Associate Professor of Economics at New York University. He received his Ph.D. from Princeton University. Lieberman has presented his extremely popular Principles of Economics course at Harvard, Vassar, the University of California, Santa Cruz, and the University of Hawaii, as well as at NYU, where he won the university's Golden Dozen teaching award and also the Economics Society Award for Excellence in Teaching. He is coeditor and contributor to The Road to Capitalism: Economic Transformation in Eastern Europe and the Former Soviet Union. Lieberman has consulted for the Bank of America and the Educational Testing Service. In his spare time, he is a professional screenwriter. He co-wrote the script for Love Kills, a thrillerthat aired on the USA Cable Network, and he teaches screenwriting at NYU's School of Continuing and Professional Studies.
PART I. PRELIMINARIES. 1. What Is Economics? 2. Scarcity, Choice, and Economic Systems. 3. Supply and Demand. PART II. MACROECONOMICS: BASIC CONCEPTS. 4. What Macroeconomics Tries to Explain. 5. Production, Income, and Employment. 6. The Monetary System, Prices, and Inflation. PART III. LONG-RUN MACROECONOMICS. 7. The Classical Long-Run Model. 8. Economic Growth and Rising Living Standards. PART IV. SHORT-RUN MACROECONOMICS. 9. Economic Fluctuations. 10. The Short-Run Macro Model. PART V. MONEY, PRICES, AND THE MACROECONOMY. 11. The Banking System. 12. The Money Market and the Interest Rate. 13. Aggregate Demand and Aggregate Supply. PART VI. MACROECONOMIC POLICY. 14. INFLATION AND MONETARY POLICY. 15. Fiscal Policy: Taxes, Spending, and the Federal Budget. 16. Exchange Rates and Macroeconomic Policy. 17. Comparative Advantage and the Gains from International Trade. USING ALL THE THEORY: The Stock Market and the Macroeconomy.