This textbook is suitable for the following courses: Introductory Macroeconomics and Principles of Macroeconomics.
Taylor and Weerapana present modern economics in a form that’s intuitive, relevant, and memorable to learners with no prior exposure to the subject. Principles of Macroeconomics engages students by emphasizing the central idea of economics throughout: that people make purposeful choices with scarce resources and interact with other people when they make these choices. The authors bring to bear recent and extensive classroom-based experiences to select real-world examples of how markets work; provide clear explanations of why markets are efficient when the incentives are right and inefficient when the incentives are wrong; and outline examples of economic choices students actually face. The authors stress long-run fundamentals, but they also discuss current public policy issues when the short run matters.
- Now published by FlatWorld at an affordable price in print and digital formats suited to today’s students.
- Updated data and content bring coverage of macroeconomics through to the beginning of 2017.
- Incorporates discussion of new monetary developments since 2011, including QE3, taper, raising of interest rates and the move to negative interest rates in some countries.
- Covers the debate about whether the Fed is unwinding its extraordinary policy measures at an appropriate pace as well as whether the fiscal policy measures implemented in the 2008/09 recession worked, based on academic studies.
- Discusses labor market developments, including the fall in unemployment rates, slow improvement in the employment to population ratio, and the falling labor force participation rate of men.
- Expands the discussion of productivity slowdown, including Robert Gordon's claim that economic headwinds will keep U.S. productivity growth low in the foreseeable future.
- Stimulating vignettes at the beginning of each chapter.
- Problems which have been carefully selected, revised, and tested for this edition.
- Questions for review at the end of every chapter. Brief reviews at the end of each major section summarize the key points in abbreviated form as the chapter evolves.
- Definitions of key terms appear in the margins or hyperlinked online.
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FlatWorld Homework System
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Test Item File
Need assistance in supplementing your quizzes and tests? Our test item files (in Word format) contain many true/false, multiple choice, fill in the blanks, and short essay questions.
The Instructor Manual (in Word format) will help guide you through the main concepts of each chapter such as learning objectives, key terms and takeaways. Many also include explanations and answers to chapter exercises.
PowerPoint Lecture Notes
A PowerPoint presentation highlighting key learning objectives and the main concepts for each chapter are available for you to use in your classroom. You can either cut and paste sections or use the presentation as a whole.
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Test Bank for Import to Learning Management System
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- In Chapter 5.2 changed "10.1 percent in October 2008 " to "10.1 percent in October 2009." (11/9/18)