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Macroeconomics : Private and Public Policy / Text Only

Macroeconomics : Private and Public Policy / Text Only - 10th edition

Cover of Macroeconomics : Private and Public Policy / Text Only 10TH 03 (ISBN -)
Edition: 10TH 03
Copyright: 2003
Publisher: South-Western Publishing Co.
Published: 2003
International: No

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Macroeconomics : Private and Public Policy / Text Only - 10TH 03 edition

ISBN13: -

James Gwartney, Richard Stroup, Russell Sobel and David Macpherson

Edition: 10TH 03
Copyright: 2003
Publisher: South-Western Publishing Co.
Published: 2003
International: No
Sold Out
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Authors James D. Gwartney, Richard L. Stroup, Russell S. Sobel, and David Macpherson, believe that a course on principles of economics should focus on the power and relevance of the economic way of thinking. It is this belief and corresponding writing approach that has made Macroeconomics: Private and Public Choice one of South Western Thomson Learning's most solid and enduring texts. Throughout this text, the authors integrate applications and real-world data in an effort to make the basic concepts of economics come alive for the reader.


  • NEW! Technology Resources have been more thoroughly integrated throughout the text.
  • Myths of Economics: These boxed articles dispel commonly held fallacies of economic reasoning. Each one is presented within a chapter containing closely related material.
  • Measures of Economic Activity: This boxed feature explains how important economic indicators are assembled.
  • Applications in Economics: This feature applies economic theory to real-world issues and controversies.
  • NEW! Chapter 2 provides added material regarding commodity prices in order to drive the importance of empirical evidence to support predictions of supply and demand models. Also, there is an added application on the transaction costs of the Internet.
  • NEW! Chapter 7 provides additional coverage of stagflation.
  • NEW! Chapter 10 has been reorganized to provide a clearer discussion of changes in aggregate demand in order to show shifts in short run impact and SRAS shifts in short run impact. The chapter then discusses the boom or recession corrections.
  • NEW! New Special Topics include: Government Spending and Taxation; The Internet: How Is It Changing the Economy?; The Economics of Health Care; School Choice: Can It Improve the Quality of Education in America; Is Discrimination Responsible for the Earnings Differences Between Men and Women? The Economics of Social Security; The Stock Market: What Does It Do and How Has It Performed?; The Federal Budget and the National Debt; Labor Markets and Unemployment: A Cross-Country Analysis; The Phillips Curve: Is There a Tradeoff Between Unemployment and Inflation? do Labor Unions Increase the Wages of Workers?; How Does Government Regulation Affect Your Life?; Natural Resources and the Future; Economics and the Environment.
  • Special Topics: To provide more flexibility for the instructor, the authors have included a "Beyond the Basics: Special Topics" section at the end of the text. This section provides a number of short features on high-profile topics.
  • Keys to Prosperity: Throughout the text, the authors highlight 12 basic insights in economics that are the keys to a nation's prosperity.
  • The Invisible Hand: Economics: Private and Public Choice provides an emphasis on the invisible hand process and the role of free markets. The authors also introduce an understanding of the role of government, and the economic approach to analyzing government.
  • Outstanding Economist: The text highlights economists and their contribution to the science of economics with a pedagogical box.

Author Bio

Gwartney, James D. : Florida State University

Stroup, Richard L. : Montana State University

Sobel, Russell S. : West Virginia University

Macpherson, David : Florida State University

David Macpherson is the Abba Lerner Professor of Economics at Florida State University, where he has received two university-wide awards for teaching excellence. Professor Macpherson is the author of many articles in leading labor economics and industrial relations journals, including the Journal of Labor Economics, Journal of Human Resources, and Industrial and Labor Relations Review. His current research interests include pensions, discrimination, labor unions, and the minimum wage. He received his undergraduate degree and Ph.D. from the Pennsylvania State University.

Table of Contents

1. The Economic Approach.
2. Some Tools of the Economist.

3. Supply, Demand, and the Market Process.
4. Supply and Demand: Applications and Extensions.
5. The Economic Role of Government.
6. The Economics of Collective Decision Making.

7. Taking the Nation's Economic Pulse.
8. Economic Fluctuations, Unemployment, and Inflation.
9. An Introduction to Basic Macroeconomic Markets.
10. Working with Our Basic Aggregate Demand/Aggregate Supply Model.
11. Keynesian Foundations of Modern Macroeconomics.
12. Fiscal Policy.
13. Money and the Banking System.
14. Modern Macroeconomics: Monetary Policy.
15. Stabilization Policy, Output, and Employment.
16. Economic Growth.

17. Gaining from International Trade.
18. International Finance and the Foreign Exchange Market.

Special Topic 1: Government Spending and Taxation.
Special Topic 2: The Internet: How Is It Changing the Economy?
Special Topic 3: The Economics of Social Security.
Special Topic 4: The Stock Market: What Does It Do And How Has It Performed?
Special Topic 5: The Federal Budget and the National Debt.
Special Topic 6: Labor Markets and Unemployment: a Cross-Country Analysis.
Special Topic 7: The Phillips Curve: Is There a Tradeoff Between Unemployment and Inflation?