Macroeconomics, 8th edition

Published by Pearson (November 1, 2021) © 2023

  • Glenn Hubbard Columbia University
  • Anthony Patrick O'Brien Lehigh University
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For 1-semester principles of macroeconomics courses.

The relevance of economics, shown through real-world business examples

Macroeconomics makes economic principles relevant by demonstrating how real businesses use them to make decisions every day. For instructors, it eases the challenge of conveying how these principles directly impact students' lives.

The 8th Edition exemplifies recent developments in US and world economies through new real-world business and policy examples. No matter their career path, whether it's opening an art studio, trading on Wall Street or bartending at the local pub, students will benefit from grasping the economic forces behind their 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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