Macroeconomics, 8th edition

Published by Pearson (July 10, 2020) © 2021

  • Glenn Hubbard Columbia University
  • Anthony Patrick O'Brien Lehigh University

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ISBN-13: 9780136713791 (2020 update)
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Economics can often be a challenging topic of study. Many of the principles and concepts you'll read about, including opportunity cost, trade-offs, scarcity, and demand and supply, may not seem applicable to your daily life. Macroeconomics makes these concepts relevant and interesting by demonstrating how real businesses apply them to make decisions every day.

With ever-changing US and world economies, the digitally updated 8th Edition includes fully revised content, figures, examples and features. It incorporates the effects of the recent global pandemic on households, firms and economic policy. No matter your career path, whether it's opening an art studio, trading on Wall Street or bartending at the local pub, you'll benefit from grasping the economic forces behind your work.

PART 1: INTRODUCTION

  1. Economics: Foundations and Models
    • Appendix: Using Graphs and Formulas
  2. Trade-offs, Comparative Advantage, and the Market System
  3. Where Prices Come From: The Interaction of Demand and Supply
  4. Economic Efficiency, Government Price Setting, and Taxes
    • Appendix: Quantitative Demand and Supply Analysis
  5. The Economics of Health Care

PART 2: FIRMS IN THE DOMESTIC AND INTERNATIONAL ECONOMIES

  1. Firms, the Stock Market, and Corporate Governance
    • Appendix: Present Value
    • Online Appendix: Tools to Analyze Firms' Financial Information
  2. Comparative Advantage and the Gains from International Trade

PART 3: MACROECONOMIC FOUNDATIONS AND LONG-RUN GROWTH

  1. GDP: Measuring Total Production and Income
  2. Unemployment and Inflation
  3. Economic Growth, the Financial System, and Business Cycles
  4. Long-Run Economic Growth: Sources and Policies

PART 4: SHORT-RUN FLUCTUATIONS

  1. Aggregate Expenditure and Output in the Short Run
    • Appendix: The Algebra of Macroeconomic Equilibrium
  2. Aggregate Demand and Aggregate Supply Analysis
    • Appendix: Macroeconomic Schools of Thought

PART 5: MONETARY AND FISCAL POLICY

  1. Money, Banks, and the Federal Reserve System
  2. Monetary Policy
  3. Fiscal Policy
    • Appendix: A Closer Look at the Multiplier
  4. Inflation, Unemployment, and Federal Reserve Policy

PART 6: THE INTERNATIONAL ECONOMY

  1. Macroeconomics in an Open Economy
    • Online Appendix: The Gold Standard and the Bretton Woods System

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