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Macroeconomics-With Cd

Macroeconomics-With Cd - 5th edition

ISBN13: 978-0618171354

Cover of Macroeconomics-With Cd 5TH 02 (ISBN 978-0618171354)
ISBN13: 978-0618171354
ISBN10: 0618171355
Edition: 5TH 02
Copyright: 2002
Publisher: Houghton Mifflin Harcourt
Published: 2002
International: No

Macroeconomics-With Cd - 5TH 02 edition

ISBN13: 978-0618171354

William Boyes and Michael Melvin

ISBN13: 978-0618171354
ISBN10: 0618171355
Edition: 5TH 02
Copyright: 2002
Publisher: Houghton Mifflin Harcourt
Published: 2002
International: No

The Fifth Edition of Macroeconomics strengthens the connection between basic economic principles and students' lives by balancing an accessible, lively writing style with a unique pedagogical framework. Focusing on modern economics, Boyes and Melvin have revised the text to integrate contemporary coverage of the "new economy" and international issues.

While incorporating the latest economic statistics, Macroeconomics, Fifth Edition, has been streamlined to make teaching easier. The text highlights global concerns throughout; in particular, Chapter 2 looks at comparative advantage and gains from trade, and Chapter 7 examines foreign exchange rates and the balance of payments. The primary macreconomic model--AD/AS--is introduced in Chapter 9. Chapter 16 outlines various ideologies including new classical and Keynsian models, while Chapter 17 demonstrates the affect of one nation's government policy on other countries.

New! Internet Exercises at the end of each chapter and additional web-based assignments located on the textbook site provide meaningful, real-world practice.
New! Economic Insight boxes--and almost 75% of the Economically Speaking boxes--have been updated to include new articles and commentaries.
Pedagogical aids help students to understand and assimilate the material: Recaps provide a short list of main points, dividing material for review into manageable sections; Key Terms are defined both in the text and the margins; and Exercises act as self-checks which can also be assigned as homework.
The text's internal Referencing System reinforces a hierarchy of ideas by designating a number for each section and subsection--cited consistently in Key Terms, end-of-chapter Summaries, and the supplements package.

Author Bio

Boyes,William : Arizona State University

Melvin, Michael : Arizona State University

Table of Contents

Note: Each chapter begins with a Preview and includes a Summary, Key Terms, Exercises, and Internet Exercises/Resources.

I. Introduction to the Price System

1. Economics: The World Around You

The Definition of Economics
The Economic Approach
Economic Insight: "Free" Air?
Economically Speaking: "Pumped Up Over Cheap Gas?"
Appendix to Chapter 1: Working with Graphs
Reading Graphs
Constructing a Graph

2. Choice, Opportunity Costs, and Specialization

Opportunity Costs
Specialization and Trade
Economically Speaking: "The Car Sector Braces for Stiffer Competition"

3. Markets, Demand and Supply, and the Price System

Equilibrium: Putting Demand and Supply Together
Economic Insight: "The Foreign Exchange Market"
Economically Speaking: "A Sleuth for Landlords with Eviction in Mind"

4. The Market System and the Private Sector

The Market System
Business Firms
The International Sector
Linking the Sectors
Economic Insight: "Adam Smith"
Economic Insight: "The Successful Entrepreneur (Sometimes It's Better to Be Lucky Than Good)"
Economically Speaking: "Zooming in on Wills"

5. The Public Sector

The Circular Flow
The Role of Government in the Market System
Overview of the United States Government
Government in Other Economies
Economic Insight: "Government Creates a Market for Fishing Rights"
Economically Speaking: "A Big 'Nein' to Deutsche Telekom; Telecommunications: Germany Still Doesn't Have a Completely Open Market"

II. Macroeconomic Basics

6. National Income Accounting

Measures of Output and Income
Nominal and Real Measures
Flows of Income and Expenditures
Economic Insight: "The Value of Homemaker Services"
Economic Insight: "The Consumer Price Index"
Economically Speaking: "Consumer Price Index Carries Clout"

7. An Introduction to the Foreign Exchange Market and the Balance of Payments

The Foreign Exchange Market
The Balance of Payments
Economic Insight: "Active Trading Around the World"
Economic Insight: "Black Markets in Foreign Exchange"
Economically Speaking: "High Gas Prices, Weak Euro Result in Room Availability, Less-Crowded Facilities at Popular U.S. National Parks"

8. Unemployment and Inflation

Business Cycles
Economic Insight: "The Underground Economy"
Economically Speaking: "Greenspan: Skills Wanted; Fed Chief Says Job Training Key to Prosperity in U.S"

9. Macroeconomic Equilibrium: Aggregate Demand and Supply

Aggregate Demand, Aggregate Supply, and Business Cycles
Factors That Influence Aggregate Demand
The Aggregate Demand Curve
Aggregate Supply
Aggregate Demand and Supply Equilibrium
Economic Insight: "How Lack of Information in the Short Run Affects Wages in the Long Run"
Economic Insight: "OPEC and Aggregate Supply"
Economically Speaking: "Opinions Differ in Consumer Confidence Polls"

10. Aggregate Expenditures

Consumption and Saving
Government Spending
Net Exports
The Aggregate Expenditures Function
Economic Insight: "Permanent Income, Life Cycles, and Consumption"
Economically Speaking: "U.S. Trade Deficit with China Widens; Record Gap Shows up as Summit Nears"
Appendix to Chapter 10: An Algebraic Model of Aggregate Expenditures

11. Incomes and Expenditures Equilibrium

Equilibrium Income and Expenditures
Changes in Equilibrium Income and Expenditures
Aggregate Expenditures and Aggregate Demand
Economic Insight: "John Maynard Keynes"
Economic Insight: "The Paradox of Thrift"
Economically Speaking:: "A Hard Landing in the U.S. "Will Hit Asia""
Appendix to Chapter 11: An Algebraic Model of Income and Expenditures Equilibrium

III. Macroeconomic Policy

12. Fiscal Policy

Fiscal Policy and Aggregate Demand
Fiscal Policy in the United States
Fiscal Policy in Different Countries
Economic Insight: "Supply-Side Economics and the Laffer Curve"
Economic Insight: "The Taxpayer's Federal Government Credit Card Statement"
Economically Speaking: "Overflowing Government Coffers Should Purchase Fresh Thinking"
Appendix to Chapter 12: An Algebraic Examination of the Balanced-Budget Change in Fiscal Policy

13. Money and Banking

What Is Money?
Banks and the Money Supply
Economic Insight: "Islamic Banking"
Economically Speaking: "They Love Our Money"

14. Monetary Policy

The Federal Reserve System
Implementing Monetary Policy
Monetary Policy and Equilibrium Income
Economically Speaking: "What's on a 20 Dollar Bill?"
Economically Speaking: "Fed Gives Interest Rates Another Nudge: Central Bank Concerned about Inflation, But Stocks Roar Higher"

15. Macroeconomic Policy: Tradeoffs, Expectations, Credibility, and Sources of Business Cycles

The Phillips Curve
The Role of Expectations
Credibility and Time Inconsistency
Sources of Business Cycles
The Link Between Monetary and Fiscal Policies
Economic Insight: "The Natural Rate of Unemployment"
Economically Speaking: "Greenspan Grilled: Congress Questions Inflation, Rates, Dollar"

16. Macroeconomic Viewpoints: New Keynesian, Monetarist, and New Classical

Keynesian Economics
Monetarist Economics
New Classical Economics
Comparison and Influence
Economic Insight: "Milton Friedman"
Economically Speaking: "Sun Is Finally Setting on Economic Conservation"

17. Macroeconomic Links Between Countries

Prices and Exchange Rates
Interest Rates and Exchange Rates
Policy Effects
International Policy Coordination
Economically Speaking: "Expats' Currency Conundrum/American Investors Try to Predict Future of the Dollar"

IV. Economic Growth and Development

18. Economic Growth

Defining Economic Growth
The Determinants of Growth
Economic Insight: "Technological Advance: The Change in the Price of Light"
Economically Speaking: "U.S. Updating Its Economic Measurements"

19. Development Economics

The Developing World
Obstacles to Growth
Development Strategies
Foreign Investment and Aid
Economics in Transition from Socialism
Economic Insight: "Development and Cultural Values in Sub-Saharan Africa"
Economically Speaking: "We Need the Will to Feed the Hungry"

V. Issues in International Trade and Finance

20. World Trade Equilibrium

An Overview of World Trade
An Example of International Trade Equilibrium
Sources of Comparative Advantage
Economic Insight: "The Dutch Disease"
Economically Speaking: "China Trade Will Come Back to Haunt Us"

21. International Trade Restrictions

Arguments for Protection
Tools of Policy
Preferential Trade Agreements
Economic Insight: "Smoot-Hawley Tariff"
Economically Speaking: "Imports and Competition in Domestic Markets"

22. Exchange-Rate Systems and Practices

Past and Current Exchange-Rate Arrangements
Fixed or Floating Exchange Rates
The Choice of an Exchange-Rate System
Economic Insight: "The IMF and the World Bank"
Economically Speaking: "E.U. Extends Invitations to 6 Countries: Turkey on Hold"

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