Ever wonder why you have the number of friends that you do? Would a tax on soda really reduce obesity? What is going on with the financial problems in Greece? Is a tax rebate is better than a tax bonus? MACROECONOMICS, 12E answers these questions and many more as this book opens up the world of economic analysis. This edition offers more detailed coverage of the financial and economic crisis than any other macroeconomics book of its kind on the market. Memorable examples from pop culture illustrate the unexpected places macroeconomics occur and show how economic forces link to every day events. This edition offers complete video assets ideal for self-study. "Video Office Hours" digital lectures walk you through worked problems, while brief "Working with Diagrams" videos demonstrate key concepts in graphing that you can play and replay. A new Adaptive Test Prep Tool available on MindTap enables you to assess your personal economic understanding. Powerful digital resources, including Aplia, MindTap work with the book's latest content to reflect today's changing economy and equip you with a thorough understanding of contemporary macroeconomics.
About the Author
Dr. Roger A. Arnold is Professor of Economics at California State University San Marcos, where his fields of specialization include general microeconomic theory and monetary theory. A widely respected authority on economic issues, Dr. Arnold is a regularly featured expert on talk radio discussing the state of the economy. He is also a proven author who has published numerous academic articles, hundreds of newspaper columns, as well as the popular ECONOMICS: NEW WAYS OF THINKING and principles of economics supplemental text, HOW TO THINK LIKE AN ECONOMIST. Dr. Arnold earned a B.S. in Economics from the University of Birmingham in England and received his M.A. and his Ph.D. degrees from Virginia Tech.
Table of Contents
AN INTRODUCTION TO ECONOMICS. Part I: ECONOMICS: THE SCIENCE OF SCARCITY. 1. What Economics Is About. Appendix A: Working with Diagrams. Appendix B: Should You Major in Economics? 2. Production Possibilities Frontier Framework. 3. Supply and Demand: Theory. 4. Prices: Free, Controlled, and Relative. 5. Supply, Demand, and Price: Applications. MACROECONOMICS. Part II: MACROECONOMIC FUNDAMENTALS. 6. Macroeconomic Measurements, Part I: Prices and Unemployment. 7. Macroeconomic Measurements, Part II: GDP and Real GDP. Part III: MACROECONOMIC STABILITY, INSTABILITY, AND FISCAL POLICY. 8. Aggregate Demand and Aggregate Supply. 9. Classical Macroeconomics and the Self-Regulating Economy. 10. Keynesian Macroeconomics and Economic Instability: A Critique of the Self-Regulating Economy. 11. Fiscal Policy and the Federal Budget. Part IV: MONEY, THE ECONOMY, AND MONETARY POLICY. 12. Money, Banking, and the Financial System. 13. The Federal Reserve System. Appendix C: The Market for Reserves (or the Federal Funds Market). 14. Money and the Economy. 15. Monetary Policy. Appendix D: Bond Prices and the Interest Rate. Part V: EXPECTATIONS AND GROWTH. 16. Expectations Theory and the Economy. 17. Economic Growth: Resources, Technology, Ideas, and Institutions. Part VI: THE FINANCIAL CRISIS OF 2007-2009. 18. The Financial Crisis of 2007-2009. Part VII: GOVERNMENT AND THE ECONOMY. 19. Debates in Macroeconomics Over the Role and Effects of Government. Part VIII: PUBLIC CHOICE AND SPECIAL-INTEREST-GROUP POLITICS. 20. Public Choice and Special-Interest-Group Politics. Part IX: ECONOMICS THEORY-BUILDING AND EVERYDAY LIFE. 21. Building Theories to Explain Everyday Life: From Observations to Questions to Theories to Predictions. THE GLOBAL ECONOMY. Part X: INTERNATIONAL ECONOMICS AND GLOBALIZATION. 22. International Trade. 23. International Finance. 24. Globalization and International Impacts on the Economy. WEB CHAPTERS. 25. The Economic Case For and Against Government: Five Topics Considered. 26. Stocks, Bonds, Futures, and Options. 27. Agriculture: Problems, Policies, and Unintended Effects.