Summary: ...show more
The 3rd Canadian edition represents a revision focused on updating data and examples throughout the text. Boxed Features
New To This Edition
- 1. Focus boxes-expand on a point made in the text.
- 2. In Depth boxes-look at a particular macroeconomic event in detail.
- 3. Global Macro boxes-profile macroeconomic events from around the world.
- Excel Models added to Text enrichment site: Available now on instructor central!
- The excel spreadsheets offers students another way to learn macroeconomic concepts by giving them a lot of visuals in the graph sections. Students can also make calculations quickly.
- The excel spreadsheets also show the CLEAR LINKS ACROSS TIME PERIODS IN DYNAMIC ANALYSIS
- There are excel spreadsheets for the majority of the chapters in the book (they are not referenced in the chapter, only in the preface)
- For chapters 2,3,4,5,6,7,8,10,11,12,13,15,16,18,19,20,23,27
- They can be used as assignments or in class for demonstration purposes
- The Excel spreadsheets come with assignment questions based on the excel sheets (with answers for faculty)
- This is also GREAT TOOL for facutly TO MAKE UP TESTS BY ALTERING THE SPREADSHEET
- WLU author: David Johnson has already been using these in his class and has received positive student feedback.
- On this site there is also a paragraph from the author that explains why profs should use excel to help teach intermediate macroeconomics.
- Content Changes
- Dropped the former Chapter 24, ''Pathologies III: Transition in Eastern Europe and the Asian Crisis''.
- In Chapter 5, added a new box on the U.S. recession of 2001.
- In Chapter 6, included an update on the significant appreciation of the Canadian dollar since 2000.
- In Chapter 9,
- Updated section on equilibrium real wages, employment, and unemployment.
- Material on wage- and price-setting relations vs. labour supply added as an appendix.
- Added a new paragraph to the In Depth box entitled ''How Long Lasting Are the Real Effects of Money?''
- Added a new Global Macro box entitled ''Why Was There 'No' Oil Shock in the Period from 2000-2005?''
- In Chapter 11, added a new section on deflation and the Phillips curve relation.
- In Chapter 12, added a new Focus box entitled ''Okun's Law Across Countries''.
- In Chapter 13,
- Updated the Focus box entitled ''The Euro: A Short History''.
- Added a new Focus box entitled ''Argentina's Currency Board''
- Added a new end-of-chapter problem on the pressure of China to revalue during 2005.
- In Chapter 14, added a new Focus box entitled ''Growth and Happiness''
- In Chapter 15, added an appendix entitled ''The Cobb-Douglas Production Function and the Steady State''.
- In Chapter 16,
- Added a new Focus box entitled ''The New Economy and Productivity Growth''.
- Added a new section on ''Institutions and Growth''.
- Added a new Focus box entitled ''The Importance of Institutions: North and South Korea''.
- Added a new section on the stockmarket.
- Added a new appendix on real exchange rate.
- Deleted the material on ''Unemployment in Europe in the 1990s''.
- Added a large new section on ''Disinflation, Deflation, and the Liquidity Trap''.
- In Chapter 24 (formerly Chapter 25), added a new Focus box entitled ''The Growth and Stability Pact: A Short History''.
- In Chapter 25 (formerly Chapter 26), expanded coverage of ''The Optimal Rate of Inflation: The Canadian Debate''.
- In Chapter 26 (formerly Chapter 27), added a large new section entitled ''Fiscal Policy in a Minority Government''.