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Macroeconomics : Public and Private Choice

Macroeconomics : Public and Private Choice - 11th edition

Macroeconomics : Public and Private Choice - 11th edition

ISBN13: 9780324320336

ISBN10: 0324320337

Macroeconomics : Public and Private Choice by Gwartney, Stroup, Sobel and Macpherson - ISBN 9780324320336
Edition: 11TH 06
Copyright: 2006
Publisher: South-Western Publishing Co.
Published:
International: No
Macroeconomics : Public and Private Choice by Gwartney, Stroup, Sobel and Macpherson - ISBN 9780324320336

ISBN13: 9780324320336

ISBN10: 0324320337

Edition: 11TH 06

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Summary

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.

Benefits:

  • NEW! Accessibility: Shorter and more readable. While readability has been a strength of the book in the past, the authors have taken extra effort to make this edition the most student friendly ever. This enables accessibility to students of all levels of preparation.
  • 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.
  • NEW! Economics at the Movies: This new feature discusses the economic content of several popular movies, emphasizing the fact that economics pervades our lives and thinking. Instructors and students will find that this feature will stimulate interest and drive home the importance of several concepts.
  • NEW! Revised Material: Revision of Chapter 5, Difficult Cases for the Market and the Role of Government. This edition explains both why externalities and public goods pose problems for the market and considers various solutions that can minimize these problems.
  • NEW! Applications: The application of economics to real-world problems has always been a strength of this text. It allows students to immediately apply what they have learned to topics that they see in their own lives. Some of these new applications include: Capturing External Benefits: The Case of Walt Disney World, Should Americans Be Permitted to Import Prescription Drugs, and Would Personal Savings Accounts Make Unemployment Compensation Work Better.
  • NEW! Update Technology Resources: Integrated throughout the text more than ever before.
  • 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.

Table of Contents

Table of Contents

PART 1: THE ECONOMIC WAY OF THINKING

1 The Economic Approach
2 Some Tools of the Economist

PART 2: MARKETS AND GOVERNMENT

3 Supply, Demand, and the Market Process
4 Supply and Demand: Applications and Extensions
5 Difficult Cases for the Market
6 The Economics of Collective Decision Making

PART 3: CORE MACROECONOMICS

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 Keynes and the Evolution of Macroeconomics
12 Fiscal Policy
13 Money and the Banking System
14 Modern Macroeconomics: Monetary System
15 Stabilization Policy, Output, and Employment
16 Economic Growth

PART 4: INTERNATIONAL ECONOMICS

17 Gaining from International Trade
18 International Finance and the Foreign Exchange Market (macro split only)

PART 5: APPLYING THE BASICS SPECIAL TOPICS

1: Government Spending and Taxation
2: The Internet: How Is It Changing the Economy?
3: The Economics of Social Security
4: The Stock Market: What Does It Do and How Has it Performed?
5: The Federal Budget and the National Debt
6: The Phillips Curve: Is There a Tradeoff Between Unemployment and Inflation?

APPENDICES

A General Business and Economic Indicators
B Answers to Selected Critical Analysis Questions

Glossary
Index