Macroeconomics, 4th edition

Published by Pearson (July 31, 2025) © 2025

  • Glenn Hubbard Columbia University
  • Anne M. Garnett Murdoch University
  • Philip Lewis University of Canberra
  • Anthony Patrick O'Brien
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Title overview

Economics with real world business examples and applications

With changing economic realities students need to see economic principles in action combined with diverse real-world business and policy examples to help illustrate the concepts.

This edition of Macroeconomics continues to present economics in the context of local and international real-world businesses and real-world policy debates that have proved effective for teaching and learning.

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Table of contents

  • PART 1 INTRODUCTION
  • Chapter 1 Economics: foundations and models
  • Appendix Using graphs and formulas
  • Chapter 2 Choices and trade-offs in the market
  • PART 2 HOW THE MARKET WORKS
  • Chapter 3 Where prices come from: the interaction of demand and supply
  • PART 3 MACROECONOMIC FOUNDATIONS AND ECONOMIC GROWTH
  • Chapter 4 GDP: measuring total production, income and economic growth
  • Chapter 5 Economic growth, the financial system and business cycles
  • Chapter 6 Long-run economic growth: sources and policies
  • PART 4 UNEMPLOYMENT AND INFLATION
  • Chapter 7 Unemployment
  • Chapter 8 Inflation
  • PART 5 SHORT-RUN FLUCTUATIONS
  • Chapter 9 Aggregate expenditure and output in the short run
  • Appendix The algebra of macroeconomic equilibrium
  • Chapter 10 Aggregate demand and aggregate supply analysis
  • Appendix Macroeconomic schools of thought
  • PART 6 MONETARY AND FISCAL POLICY
  • Chapter 11 Money, banks and the Reserve Bank of Australia
  • Chapter 12 Monetary policy
  • Chapter 13 Fiscal policy
  • Appendix 1 Is there a short-run trade-off between unemployment and inflation?
  • Appendix 2 A closer look at the multiplier
  • PART 7 THE INTERNATIONAL ECONOMY
  • Chapter 14 Macroeconomics in an open economy
  • Chapter 15 The international financial system
  • Appendix The gold standard and the Bretton Woods System

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