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Principles of Macroeconomics 2e
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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.

Subject:
Economics
Social Science
Material Type:
Full Course
Date Added:
07/18/2021
Principles of Macroeconomics 2e, Choice in a World of Scarcity, Introduction to Choice in a World of Scarcity
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CC BY
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In this Unit, you will learn about:How Individuals Make Choices Based on Their Budget ConstraintThe Production Possibilities Frontier and Social ChoicesConfronting Objections to the Economic Approach

Subject:
Applied Science
Economics
Material Type:
Module
Author:
OpenStax College
Date Added:
07/18/2021
Principles of Macroeconomics 2e, Choice in a World of Scarcity, The Production Possibilities Frontier and Social Choices
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CC BY
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By the end of this section, you will be able to:

Interpret production possibilities frontier graphs
Contrast a budget constraint and a production possibilities frontier
Explain the relationship between a production possibilities frontier and the law of diminishing returns
Contrast productive efficiency and allocative efficiency
Define comparative advantage

Subject:
Applied Science
Material Type:
Module
Author:
OpenStax College
Date Added:
07/18/2021
Principles of Macroeconomics 2e, Economic Growth, Economic Convergence
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CC BY
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By the end of this section, you will be able to:

Explain economic convergence
Analyze various arguments for and against economic convergence
Evaluate the speed of economic convergence between high-income countries and the rest of the world

Subject:
Applied Science
Material Type:
Module
Author:
OpenStax College
Date Added:
07/18/2021