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Macroeconomics, 7th edition

Published by Pearson (September 18, 2020) © 2021

  • Glenn Hubbard Columbia University
  • Anthony Patrick O'Brien Lehigh University
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Economics can often be a challenging topic of study, as 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.

The 7th Edition exemplifies recent developments in US and world economies through new real-world business and policy examples. 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 I: 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 II: FIRMS IN THE DOMESTIC AND INTERNATIONAL ECONOMIES

6. Firms, the Stock Market, and Corporate Governance

Appendix: Tools to Analyze Firms’ Financial Information

7. Comparative Advantage and the Gains from International Trade

 

PART III: MACROECONOMIC FOUNDATIONS AND LONG-RUN GROWTH

8. GDP: Measuring Total Production and Income

9. Unemployment and Inflation

10. Economic Growth, the Financial System, and Business Cycles

11. Long-Run Economic Growth: Sources and Policies

 

PART IV: SHORT-RUN FLUCTUATIONS

12. Aggregate Expenditure and Output in the Short Run

Appendix: The Algebra of Macroeconomic Equilibrium

13. Aggregate Demand and Aggregate Supply Analysis

Appendix: Macroeconomic Schools of Thought

 

PART V: MONETARY AND FISCAL POLICY

14. Money, Banks, and the Federal Reserve System

15.Monetary Policy

16.Fiscal Policy

Appendix: A Closer Look at the Multiplier

17. Inflation, Unemployment, and Federal Reserve Policy

 

PART VI: THE INTERNATIONAL ECONOMY

18. Macroeconomics in an Open Economy

19. The International Financial System

Appendix: The Gold Standard and the Bretton Woods System

 

 

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