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:Calculate and graph budget constraintsExplain opportunity sets and opportunity costsEvaluate the law of diminishing marginal utilityExplain how marginal analysis and utility influence choices

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

This course develops logical, empirically based arguments using statistical techniques and analytic methods. Elementary statistics, probability, and other types of quantitative reasoning useful for description, estimation, comparison, and explanation are covered. Emphasis is on the use and limitations of analytical techniques in planning practice.