Macroeconomics, Global Edition eBook, 10th Edition

Andrew B. Abel all

Macroeconomics, Global Edition eBook, 10th Edition

By Andrew B. Abel, Ben Bernanke, Dean Croushore
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Andrew B. Abel all
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For courses in intermediate macroeconomics.

Demonstrating a balanced treatment of both classical and Keynesian economics, Macroecomomics presents macroeconomic theory in a big-picture way. Comprehensive coverage makes it easy for instructors to align chapters to fit their own syllabi, and the text helps students analyse real macroeconomic data used by policy makers and researchers. This text takes a unified approach based on a single economics model that provides students with a clear understanding of macroeconomics and its classical and Keynesian assumptions. The 10th Edition features new applications, boxes, and problems throughout. It also reflects recent events and developments in the field, such as the recent crisis in the US and Europe and the many new tools used by the Federal Reserve in response.

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  • A unified framework uses a single model, built from a set of core economic ideas (i.e., the production function, the trade-off between consuming today and saving for tomorrow, and supply–demand analysis), to introduce macroeconomic theories and concepts.
  • A balanced presentation of both classical and Keynesian economics allows students to see the complete picture of economic theory, and allows flexibility for professors to teach the course their way.
  • Lively coverage of a broad spectrum of macroeconomic issues and ideas such as the determinants of long-run economic growth, the trade balance and financial flows, labor markets, and the institutional framework of policy making, ensures students are up-to-date on economic practices and events.
  • Real­-world applications connect theory to practice
  • Applications show students how theory is used to understand real­-world macroeconomic phenomena across the world.
  • Working with Economic Data empirical problems direct students to appropriate data from economies of different sizes around the globe, using the Federal Reserve Bank of St. Louis’ FRED™ database, so they can develop familiarity and facility with a current data source that they’ll continue to use after completing the course.
  • In Touch with Data and Research boxes include latest research and studies being conducted in different countries and ask students to find and interpret macroeconomic data, like economists would in their careers.
  • Learning tools for students aid comprehension and application. Key diagrams in each chapter help students identify the most critical ideas, while extensive end­-of­-chapter problem sets help to reinforce learning.
  • A series of full colour graphs illustrate the historical movements of key economic variables.
Table of contents
  • 1. Introduction to Macroeconomics
  • 2. The Measurement and Structure of the National Economy
  • 3. Productivity, Output, and Employment
  • 4. Consumption, Saving, and Investment
  • 5. Saving and Investment in the Open Economy
  • 6. Long-Run Economic Growth
  • 7. The Asset Market, Money, and Prices
  • 8. Business Cycles
  • 9. The IS–LM/AD–AS Model: A General Framework for Macroeconomic Analysis
  • 10. Classical Business Cycle Analysis: Market-Clearing Macroeconomics
  • 11. Keynesianism: The Macroeconomics of Wage and Price Rigidity
  • 12. Unemployment and Inflation
  • 13. Exchange Rates, Business Cycles, and Macroeconomic Policy in the Open Economy
  • 14. Monetary Policy and the Federal Reserve System
  • 15. Government Spending and Its Financing
  • Appendix A: Some Useful Analytical Tools