Principles of Macroeconomics 2e covers the scope and sequence of most introductory …
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 …
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)
By the end of this section, you will be able to: Analyze …
By the end of this section, you will be able to:
Analyze whether monetary policy decisions should be made more democratically Calculate the velocity of money Evaluate the central bank’s influence on inflation, unemployment, asset bubbles, and leverage cycles Calculate the effects of monetary stimulus
By the end of this section, you will be able to: Explain …
By the end of this section, you will be able to:
Explain the aggregate supply curve and how it relates to real GDP and potential GDP Explain the aggregate demand curve and how it is influenced by price levels Interpret the aggregate demand/aggregate supply model Identify the point of equilibrium in the aggregate demand/aggregate supply model Define short run aggregate supply and long run aggregate supply
In this chapter, you will learn about: Macroeconomic Perspectives on Demand and …
In this chapter, you will learn about: Macroeconomic Perspectives on Demand and Supply Building a Model of Aggregate Demand and Aggregate Supply Shifts in Aggregate Supply Shifts in Aggregate Demand How the AD/AS Model Incorporates Growth, Unemployment, and Inflation Keynes’ Law and Say’s Law in the AD/AS Model
By the end of this section, you will be able to: Explain …
By the end of this section, you will be able to:
Explain real GDP, recessionary gaps, and inflationary gaps Recognize the Keynesian AD/AS model Identify the determining factors of both consumption expenditure and investment expenditure Analyze the factors that determine government spending and net exports
By the end of this section, you will be able to: Explain …
By the end of this section, you will be able to:
Explain the Phillips curve, noting its impact on the theories of Keynesian economics Graph a Phillips curve Identify factors that cause the instability of the Phillips curve Analyze the Keynesian policy for reducing unemployment and inflation
By the end of this section, you will be able to: Explain …
By the end of this section, you will be able to:
Explain the importance of potential GDP in the long run Analyze the role of flexible prices Interpret a neoclassical model of aggregate demand and aggregate supply Evaluate different ways for measuring the speed of macroeconomic adjustment
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