Principles of Macroeconomics

Key Features

• Over 55 embedded links to streaming videos enrich hybrid and online courses. They capture students’ interest, counter the perception of economics as the “dismal science,” and reveal the deeper meanings of economic principles in memorable ways
• The integrating theme for the macroeconomics chapters is the model of aggregate demand and aggregate supply. This model encourages learners to consider both short-run and long-run concepts to address a variety of policy issues and debates more efficiently
• Relies heavily on real-world data. The macroeconomics chapters, in particular, draw heavily on data from the FRED database, and contain over 45 time series graphs
• Every chapter begins with a brief Start Up scenario, a timely, real-world attention-getter that often puts students into a decision-making role, such as what’s the best strategy for becoming a millionaire? (Chapter 11)
• Seamlessly incorporates the lessons learned so far from the COVID-19 pandemic, the related recession, and the inflationary recovery
• The book’s data-driven approach isn’t limited to the ordinary (GDP, unemployment, inflation, etc.). It also illustrates the interesting and distinctive, including the unusual efforts of 1700s English homebuilders to avoid the window tax (Section 4.4) and the remarkable correlation between consumer confidence and spending on durable goods over a 60-year time horizon (Figure 8.3)
• Supportive learning features include:
  
  • Start Up features vividly demonstrate the link between theory and reality and are revisited throughout the chapter
  • Learning Objectives at the start of each main section preview the material to come and prepare students to learn
  • Heads Up! notes warn of common errors and explain how to avoid making them 
  • Key Takeaways at the end of each main section reflect the corresponding Learning Objectives and summarize key ideas in bullet-point fashion. Key Takeaways enable the learner to pause and consolidate the information just read into a "chunk." This process enables the reader to better understand and retain the section’s content and its key concepts
  • Key Terms and a marginal glossary help students understand and become comfortable with important vocabulary and phrases
  • Pop! Goes the Econ features provide links to contemporary examples that connect with students. Engaging examples include “Ron Swanson Weighs in on Specialization and Exchange” (Section 2.4), “Bart Simpson Starts a Bank Run,” (Section 10.3), and “Crowding Out in The Shawshank Redemption” (Section 13.4). Each Pop! Goes the Econ video is linked to one or more end-of-chapter problems
  • Try It! problems are organized by main section. These problems encourage active learning and help students confirm they understand the material just covered. Each Try It! problem is linked to a similar end-of-chapter exercise
  • Case in Point scenarios are applications illustrating the influence of economic forces on real issues and real people such as “Jerome Powell and the Triple Mandate” (Section 12.2). Each Case in Point application is linked to an end-of-chapter problem
  • Summary pulls together the information presented in the chapter to enhance recall and facilitate test preparation 
  • End-of-Chapter Concept Problems and Numerical Problems help students check understanding, promote discussion, and prompt learners to analyze and think critically about material just presented
• Customizable