Macroeconomics,
14th Edition

I. Getting Acquainted with Economics
1. WHAT IS ECONOMICS?
2. THE ECONOMY: MYTH AND REALITY
3. THE FUNDAMENTAL ECONOMIC PROBLEM: SCARCITY AND CHOICE
4. SUPPLY AND DEMAND: AN INITIAL LOOK
II. The Macroeconomy: Aggregate Supply and Demand
5. AN INTRODUCTION TO MACROECONOMICS
6. THE GOALS OF MACROECONOMIC POLICY
7. ECONOMIC GROWTH: THEORY AND POLICY
8. AGGREGATE DEMAND AND THE POWERFUL CONSUMER
9. DEMAND-SIDE EQUILIBRIUM: UNEMPLOYMENT OR INFLATION?
10. BRINGING IN THE SUPPLY SIDE: UNEMPLOYMENT AND INFLATION?
III. Fiscal and Monetary Policy
11. MANAGING AGGREGATE DEMAND: FISCAL POLICY
12. MONEY AND THE BANKING SYSTEM
13. MONETARY POLICY: CONVENTIONAL AND UNCONVENTIONAL
14. THE FINANCIAL CRISIS AND THE GREAT RECESSION
15. THE DEBATE OVER MONETARY AND FISCAL POLICY
16. BUDGET DEFICITS IN THE SHORT AND LONG RUN
17. THE TRADE-OFF BETWEEN INFLATION AND UNEMPLOYMENT
IV. The United States in the World Economy
18. INTERNATIONAL TRADE AND COMPARATIVE ADVANTAGE
19. THE INTERNATIONAL MONETARY SYSTEM: ORDER OR DISORDER?
20. EXCHANGE RATES AND THE MACROECONOMY
V. The Economy Today
21. CONTEMPORARY ISSUES IN THE U.S. ECONOMY

• William J. Baumol

  William J. Baumol received his B.S.S. at the College of the City of New York and his Ph.D. at the University of London. He was professor of economics at New York University and senior research economist and professor emeritus at Princeton University. He was a frequent management consultant to major firms in a wide variety of industries in the United States and other countries as well as to a number of governmental agencies. He was former president of the American Economic Association and three other professional societies. Dr. Baumol served as an elected member of the National Academy of Sciences, created by the U.S. Congress, as well as a member of the American Philosophical Society, founded by Benjamin Franklin. Dr. Baumol authored more than 35 books as well as hundreds of journal and newspaper articles that have been translated into more than a dozen languages.

• Alan S. Blinder

  Alan S. Blinder earned his B.A. at Princeton University, his M.A. at the London School of Economics and his Ph.D. at MIT. He teaches at Princeton University and most recently authored ADVICE AND DISSENT (Basic Books, 2018), which is about the very different worldviews of economists and politicians—and the consequences of that clash. Dr. Blinder served on President Clinton's first Council of Economic Advisers and then as vice chairman of the Federal Reserve Board, thereby playing a role in formulating both the fiscal and monetary policies of the 1990s. Dr. Blinder, now a regular columnist for The Wall Street Journal, has written newspaper and magazine columns on economic policy for more than thirty years. He is a past vice president and a Distinguished Fellow of the American Economic Association.

• John L. Solow

  John L. Solow received his B.A. from Yale University and his M.A. and Ph.D. from Stanford University. He is Professor of Economics at the University of Iowa. Dr. Solow has published articles in the areas of industrial organization, sports economics and energy economics, and his research interests include antitrust law and economics sports economics and public policy. He has worked at the Federal Energy Administration and the Electric Power Research Institute. In addition, he has served as a consultant to the U.S. Departments of Energy and Justice, Mid-American Energy, Qwest Telecommunications and numerous law firms. Dr. Solow has also been a visiting scholar at Stanford University, the University of Auckland in New Zealand and Monash University in Australia.

• NEW MINDTAP OFFERS STUDENTS A UNIQUE ONLINE LEARNING PATH. Relevant readings, videos, animations, activities and assignments help students advance from basic macroeconomic knowledge and comprehension to application, analysis and critical thinking. MindTap enables students to focus on the material that matters most while staying organized and efficient. You can easily customize what students see and when they see it. Simply match content to your syllabus by replacing, rearranging or adding you own material.

• POWERFUL NEW CHAPTER DISCUSSES SOME OF THE MOST IMPORTANT ISSUES FACING THE U.S. ECONOMY TODAY. A new chapter in this edition emphasizes the relevance and impact of the principles students are studying. The chapter carefully examines today's most recent macroeconomic developments and issues within the United States.

• EXTENSIVE UPDATES AND FEATURE BOXES REFLECT TODAY'S MOST RECENT EVENTS AND POLICY DEBATES. New “Issue” and “Policy Debate” boxes draw special attention to and discuss the December 2017 tax reform act and President Trump’s international trade policies.

• INFORMATION AS RECENT AS 2018 MAKES THIS NEW EDITION ONE OF TODAY'S MOST CURRENT PRINCIPLES OF MACROECONOMICS BOOKS. Be sure that your students are learning from the most current information available as this edition integrates the latest economic statistics, issue and information. Data as recent as 2018 was woven throughout the chapters as this book went to press.

• UP-TO-DATE, TIMELY REVISIONS HIGHLIGHT TODAY'S FEDERAL BUDGET DEFICIT AND THE CONTROVERSY SURROUNDING IT. Updates throughout this new edition emphasize the latest information on the federal budget deficit and the political battles related to it, including the recent fight over the national debt ceiling.

• THE LATEST INFORMATION ON THE U.S. DOLLAR KEEPS STUDENTS IN TOUCH WITH CURRENT DEVELOPMENTS. New material and revisions in this edition emphasize the recent behavior of today's U.S. dollar and how this behavior relates to macroeconomic principles and impacts economics today.

• MindTap SIGNIFICANTLY IMPROVES OUTCOMES BY INCREASING STUDENT EFFORT AND ENGAGEMENT. This best-selling online homework solution uses assignments to connect macroeconomic concepts to the real world. Students take an active role in the learning process − helping them improve their economic understanding and the relevance of the concepts they're learning. Homework is automatically graded and recorded. MindTap's end-of-chapter feature is now optimized for mobile devices and offers improved graphing, tutorials and a new interactive eReader.

• "BEYOND THE FINAL EXAM" FEATURE REINFORCES KEY MACROECONOMIC CONCEPTS FOR STUDENTS. This popular "Beyond the Final Exam" feature is introduced in Chapter 1 and is integrated throughout this edition to reinforce important concepts and help students prepare for exams. Engaging ideas capture students' attention and keep their interest as they review and study.

• CHAPTER-OPENING REAL-LIFE ECONOMIC PUZZLES OR ISSUES PROMPT INTEREST IN EACH CHAPTER'S CONTENT. Engaging Chapter Openers bring macroeconomics into students' everyday lives or reference current events they've read about in today's media. The chapter-opening macroeconomic problem is revisited within the body of the chapter, clearly illustrating how the professionals can address the challenge using the chapter's theoretical tools and concepts.

• UPDATED, CURRENT "POLICY DEBATE" BOXES ENLIVEN CHAPTERS. This edition provides timely, intriguing "Policy Debate" boxes that bring chapter topics to life while opening the way for dynamic classroom discussion.

• SUMMARIES, REVIEW QUESTIONS AND KEY TERMS GUIDE STUDENT LEARNING. Each chapter ends with a clear summary and provides key concepts and terms as well as questions and problems for review to help students complete homework and prepare for exams.

Cengage provides a range of supplements that are updated in coordination with the main title selection. For more information about these supplements, contact your Learning Consultant.

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