Principles of Macroeconomics

Principles of Macroeconomics

by Robert H. Frank
Pub. Date:
McGraw-Hill Europe
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Principles of Macroeconomics

In recent years, innovative texts in mathematics, science, foreign languages, and other fields have achieved dramatic pedagogical gains by abandoning the traditional encyclopedic approach in favor of attempting to teach a short list of core principles in depth. Two well-respected writers and researchers, Bob Frank and Ben Bernanke, have shown that the less-is-more approach affords similar gains in introductory economics. Although a few other texts have paid lip service to this new approach, Frank/Bernanke is by far the best throughout, and the best executed principles text in this mold. Avoiding excessive reliance on formal mathematical derivations, it presents concepts intuitively through examples drawn from familiar contexts. The authors introduce a coherent short list of core principles and reinforce them by illustrating and applying each in numerous contexts. Students are periodically asked to apply these principles and to answer related questions and exercises.

Frank/Bernanke also encourages students to become “Economic Naturalists,” by employing basic economic principles to understand and explain what they observe in the world around them. An economic naturalist understands, for example, that infant safety seats are required in cars but not in airplanes because the marginal cost of space to accommodate these seats is typically zero in cars but often hundreds of dollars in airplanes. Such examples engage student interest while teaching them to see each feature of their economic landscape as the reflection of an implicit or explicit cost-benefit calculation.

Product Details

ISBN-13: 9780071220781
Publisher: McGraw-Hill Europe
Publication date: 11/28/2010
Product dimensions: 6.00(w) x 1.25(h) x 9.00(d)

Table of Contents

Part I Introduction

Ch 1 Thinking Like an Economist

Ch 2 Comparative Advantage

Ch 3 Supply and Demand

Part II Macroeconomics: Data and Issues

Ch 4 Spending, Income, and GDP

Ch 5 Inflation and the Price Level

Ch 6 Wages and Unemployment

Part III The Economy in the Long Run

Ch 7 Economic Growth

Ch 8 Saving, Capital Formation, and Financial Markets

Ch 9 The Financial System, Money, and Prices

Part IV The Economy in the Short Run

Ch 10 Short-Term Economic Fluctuations

Ch 11 Spending and Output in the Short Run

Ch 12 Stabilizing the Economy: The Role of the Federal Reserve

Ch 13 Aggregate Demand, Aggregate Supply, and Macroeconomic Policy

Part V The International Economy

Ch 14 Exchange Rates, International Trade, and Capital Flows

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