While incorporating the latest economic statistics, Macroeconomics, Fifth Edition, has been streamlined to make teaching easier. The text highlights global concerns throughout; in particular, Chapter 2 looks at comparative advantage and gains from trade, and Chapter 7 examines foreign exchange rates and the balance of payments. The primary macreconomic model AD/AS is introduced in Chapter 9. Chapter 16 outlines various ideologies including new classical and Keynsian models, while Chapter 17 demonstrates the affect of one nation's government policy on other countries.
Internet Exercises at the end of each chapter and additional assignments on the textbook site provide meaningful, real-world practice.
Pedagogical aids help students to understand and assimilate the material: Recaps provide a short list of main points, dividing material for review into manageable sections; Key Terms are defined both in the text and the margins; and Exercises act as self-checks which can also be assigned as homework.
The text's internal Referencing System reinforces a hierarchy of ideas by designating a number for each section and subsection cited consistently in Key Terms, end-of-chapter Summaries, and the supplements package.
Product dimensions: 8.10 (w) x 10.00 (h) x 0.80 (d)
Meet the Author
Dr. William Boyes is professor of economics at Arizona State University. He received his Ph.D. in economics from the Claremont Graduate School. An active educator as well as respected author, Dr. Boyes has served as the Distinguished Visiting Professor of Business at Weber State University; visiting professor at Tsinghua University, Beijing, China. He has also served as visiting professor at the University of London, London, England, and has lectured at ITAM in Mexico City. In addition, he was the dean of the College of Business at Cal Poly, San Luis Obispo. Dr. Boyes has also served as chairman of the Economics Department at ASU and director of Arizona council on economic education at ASU. Dr. Boyes has been an economist with Security Pacific National Bank (now Bank of America). He has also been a consultant to the White House, the Commerce Department, the Federal Trade Commission, and several private firms. He is a member of the Pacific Research Institute's Academic Advisory Board. Dr. Boyes has received many teaching awards, including the Golden Key National Honor Society Outstanding Professor Award at ASU in 1988, the Outstanding Teacher in the MBA Program Award at ASU in 1994, the Outstanding Teacher in the College of Business Award at ASU in 1995, Huizingh Outstanding Honors Professor in 2007, and Outstanding MBA Professor in 2008.
Dr. Michael Melvin is currently Head of Currency Research at Barclays Global Investors. He also retains affiliations at the Arizona State University Department of Economics and the Haas School of Business at the University of California, Berkeley. Dr. Melvin received his Ph.D. in economics from UCLA. He has served as a visiting scholar at the Federal Reserve Board and the International Monetary Fund, and was a Fulbright Professor at the University of Frankfurt. In addition, Dr. Melvin has been a visiting professor at UCLA, Northwestern University, U.C. San Diego, and the University of Hawaii. His field of specialization is International Finance, and he is the co-editor of the Journal of International Money and Finance.
1. The Wealth of Nations: Ownership and Economic Freedom. 2. Scarcity and Opportunity Costs. 3. Markets and the Price System 4. The Aggregate Economy. 5. National Income Accounting. 6. An Introduction to the Foreign Exchange Market and the Balance of Payments. 7. Unemployment and Inflation. 8. Macroeconomic Equilibrium: Aggregate Demand and Supply. 9. Aggregate Expenditures. Appendix: An Algebraic Model of Aggregate Expenditures 10. Income and Expenditures Equilibrium. Appendix: An Algebraic Model of Income and Expenditures Equilibrum. 11. Fiscal Policy. Appendix: An Algebraic Examination of the Balanced-Budget Change in Fiscal Policy. 12. Money and Banking. 13. Monetary Policy. 14. Macroeconomic Policy: Tradeoffs, Expectations, Credibility, and Sources of Business Cycles. 15. Macroeconomic Viewpoints: New Keynesian, Monetarist, and New Classical. 16. Economic Growth. 17. Development Economics. 18. Globalization. 19. World Trade Equilibrium. 20. International Trade Restrictions. 21. Exchange Rates and Financial Links between Countries.