The Economics of Macro Issues / Edition 5

The Economics of Macro Issues / Edition 5

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Prentice Hall


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The Economics of Macro Issues / Edition 5

Debts and Deficits: What's a trillion more or less?

Credit Chaos-How did Congress get us into this mess?

The Panic of 'o8-Why did the financial markets melt down?

The Economics of Macro Issues continues to bring macroeconomic policy discussions to life. Through a collection of brief, relevant readings, questions like these spark independent thinking and lively classroom discussion. The new edition features:

Thirteen new chapters that address critical macroeconomic policies and issues

Updates to ongoing macroeconomic policy debates, reflecting the latest developments

A flexible format and built-in correlation guide make it easy to integrate into any course

Online Instructor's Manual-teaching the course just got easier

This book was written by the authors of the best-selling title The Economics of Public Issues, now in its sixteenth edition, and is perfect on its own or as a companion text to any economics or social issues courses.

Product Details

ISBN-13: 9780321716798
Publisher: Prentice Hall
Publication date: 07/24/2011
Edition description: Older Edition
Pages: 216
Product dimensions: 5.48(w) x 8.51(h) x 0.47(d)

About the Author

Roger LeRoy Miller received his PhD from the University of Chicago. Miller is a legal specialist and author of numerous books on law and the legal environment, including criminal procedure. In addition, Miller has authored books on the war on drugs, the economics of crime and criminal behavior, and on related topics.

Daniel K. Benjamin is an Alumni Distinguished Professor in the John E. Walker Department of Economics, Clemson University.

Table of Contents

Preface xi

Part 1 The Miracle of Economic Growth

1 Rich Nation, Poor Nation (importance of institutions in promoting economic growth) 3

2 Return of the Luddites: Technophobia and Economic Growth (negative impact of fear of technology on economic growth) 8

3 The Lion, The Dragon, and The Tigers: Economic Growth in Asia (causes and consequences of rapid growth in China) 14

4 Outsourcing and Economic Growth (impact on wealth of competition and voluntary exchange) 19

5 Poverty, Capitalism, and Growth (does a rising tide lift all boats?) 25

Part 2 The Business Cycle, Unemployment, and Inflation

6 Measuring GDP (what GDP does and doesn't tell us about the world) 33

7 What's In a Word? Plenty, When It's The "R" Word (how a recession is defined and why we care) 39

8 The Panic of '08 (why financial markets melted down) 44

9 The Case of The Disappearing Workers (misleading measures of unemployment) 51

10 Poverty, Wealth, and Equality (are the rich becoming richer and the poor becoming poorer?) 56

11 Will It Be Inflation or Deflation? (why rising prices are more likely than falling prices) 62

12 Is It Real, Or Is It Nominal? (why record-high prices aren't always what they seem) 67

Part 3 Fiscal Policy

13 The Growth of Big Government (why government spending is growing so fast) 75

14 Debts And Deficits: What's A Trillion More Or Less? (why there is more than meets the eye when it comes to the public debt) 80

15 Higher Taxes Are in Your Future (why you can expect to pay higher and higher taxes in the future) 85

16 Soak the Rich (what happens when a minority foots the bill for the majority) 90

17 The Myths of Social Security (it's not what governmentsays it is, not will it ever be) 96

18 The Hazards of High Taxes (why higher taxes can mean lower wealth) 102

Part 4 Monetary Policy and Financial Institutions

19 The Fed and Financial Panics (why the Fed was founded, and what it learned from its failures) 111

20 Monetary Policy and Interest Rates (long-and short-term effects of monetary policy on interest rates) 116

21 Credit Chaos (how Congress got us into the mortgage market mess) 121

22 Deposit Insurance and Financial Markets (economic implications of subsidized deposit insurance) 127

23 How (Not) to Beat the Market (why you can't beat the stock market, no matter how hard you try) 133

24 Credit-Card Crunch (how new Fed rules on credit cards may keep you from getting one) 138

Part 5 Globalization and International Finance

25 The Opposition to Globalization (why people object to globalization) 147

26 The $750,000 Job (economic consequences of attempts to restrict free trade) 153

27 The Trade Deficit (it sounds bad and it looks ugly, but it's not necessarily either) 158

28 The Value of the Dollar (why exchange rates move and the consequences for America) 165

Glossary 171

Selected References and Web Links 181

Index 189

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