Macroeconomics: Principles, Problems, and Policies

Known for clarity, patience, balance and step-by-step presentation of difficult topics, "Macroeconomics" has defined excellence among textbooks. In the new edition of "Macroeconomics", the authors have continued to consolidate material, keeping the text among the shortest available, while focusing on three primary areas of change: a comprehensive restructuring of the presentation of macroeconomics; internationalization and thorough updating of the presentation; and the addition of new pedagogical features to help students get the most from every chapter. The presentation of macroeconomic models has been restructured in chapters 9 through 12. The aggregate expenditure model and the aggregate supply/aggregate demand model are now covered separately. The goal of this change is to provide greater clarity for students and increased flexibility to instructors who may wish to skim or skip one or the other model. New coverage includes a new introductory chapter: the United States in the global economy. Also, many new "Last Word" mini-readings on topics such as Cuba's declining production possibilities, the use of the dollar around the world, the DeBeer's diamond monopoly, and China as an emerging economic power have been added. In addition, the text will now feature new global perspectives charts and tables in most chapters, comparing the US economy to other economies.