Students come to see the exponential trend demonstrated through the changing temperatures measured while heating and cooling a beaker of water. This task is accomplished by first appealing to students' real-life heating and cooling experiences, and by showing an example exponential curve. After reviewing the basic principles of heat transfer, students make predictions about the heating and cooling curves of a beaker of tepid water in different environments. During a simple teacher demonstration/experiment, students gather temperature data while a beaker of tepid water cools in an ice water bath, and while it heats up in a hot water bath. They plot the data to create heating and cooling curves, which are recognized as having exponential trends, verifying Newton's result that the change in a sample's temperature is proportional to the difference between the sample's temperature and the temperature of the environment around it. Students apply and explore how their new knowledge may be applied to real-world engineering applications.

Principles of Macroeconomics 2e covers the scope and sequence of most introductory economics courses. The text includes many current examples, which are handled in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts. The second edition has been thoroughly revised to increase clarity, update data and current event impacts, and incorporate the feedback from many reviewers and adopters.Changes made in Principles of Macroeconomics 2e are described in the preface and the transition guide to help instructors transition to the second edition.

By the end of this section, you will be able to:

Contrast expansionary monetary policy and contractionary monetary policy
Explain how monetary policy impacts interest rates and aggregate demand
Evaluate Federal Reserve decisions over the last forty years
Explain the significance of quantitative easing (QE)