About the Book

A Focused Approach

A unified framework uses a single model, built from a set of core economic ideas, to introduce macroeconomic theories and concepts.
A balanced presentation of both classical and Keynesian economics allows students to see the complete picture of economic theory, and allows flexibility for professors to teach the course their way.

Comprehensive Economics Coverage

Coverage of inflation and monetary policy reflects the latest work by researchers and the Federal Reserve.
NEW! Graph illustrates the uses-of-saving identity (Chapter 2).
NEW! Early coverage of long-¿run topics in chapters 3-¿7 reflects a commitment to modern macro theory, followed by an equally in-¿depth analysis of short-¿run issues in chapters 8¿-11.
NEW! Chapter 3 covers alternative measures of the unemployment rate.
NEW! Extended discussion of the global savings glut is included in Chapter 5.
NEW! Introduction of the concept of the break-even inflation rate is discussed in Chapter 7.
NEW! Chapter 8 discusses the idea that the Great Moderation may not have ended with the Great Recession.
NEW! Discussion of the 2008 oil price shock in Chapter 9.
NEW! Discussion of the problems that arise if inflation is too low in Chapter 12.
NEW! Discussion of the concept of an optimum currency area and whether either the United States or Europe fit the criteria in chapter 13.
NEW! Expanded discussion of central banks performing a function as the lender of last resort in Chapter 14.
NEW! Expanded discussion of quantitative easing and forward guidance in Chapter 14.
NEW! Introduction of the Laffer curve in discussing supply-side economics in Chapter 15.

Learning Aids

Learning tools for students aid comprehension and application. Key diagrams in each chapter help students identify the most critical ideas. Summary tables and extensive end¿-of¿-chapter problem sets help to reinforce learning.
Real¿-world applications connect theory to practice, helping students make active use of the economic ideas in the text.

Applications show students how theory is used to understand real¿-world macroeconomic issues.
Boxes draw from current research, highlighting interesting new developments and topics in the field.
In Touch with Data and Research boxes ask students to find and interpret macroeconomic data, like economists would in their careers.

UPDATED! A fully updated series of graphs illustrate the historical movements of key economic variables.

Also available with MyEconLab^®
MyEconLab is an online homework, tutorial, and assessment program designed to work with this text to engage students and improve results. Within its structured environment, students practice what they learn, test their understanding, and pursue a personalized study plan that helps them better absorb course material and understand difficult concepts.

Question Help. MyEconLab's homework and practice questions are correlated to the textbook, they generate algorithmically to give students unlimited opportunity for practice and mastery, and they offer helpful feedback when students enter incorrect answers. Questions include guided solutions and other multimedia assets for extra help at point-of-use.
Current News Exercises. Every week, current microeconomic and macroeconomic news stories, with accompanying exercises, are posted to MyEconLab. Assignable and auto-graded, these multi-part exercises ask students to recognize and apply economic concepts to real-world events.
Experiments. Flexible, easy-to-assign, auto-graded, and available in Single and Multiplayer versions, Experiments in MyEconLab make learning fun and engaging.
Digital Interactives in MyEconLab are poised to change how students learn core economic concepts. Organized in progressive levels, each focusing on a core learning outcome, Digital Interactives immerse students in a fundamental economic principle, helping them to learn actively. Use as a lecture tool or assigned with assessment questions for grading. Digital Interactives are designed for use in traditional, online, and hybrid courses, and many incorporate real-time data, as well as data display and analysis tools.
Learning Catalytics™. Generate class discussion, guide your lecture, and promote peer-to-peer learning with real-time analytics. MyEconLab with eText now provides Learning Catalytics–an interactive student response tool that uses students’ smartphones, tablets, or laptops to engage them in more sophisticated tasks and thinking. Instructors, you can:

Pose a variety of questions that help your students develop critical thinking skills
Monitor responses to find out where students are struggling
Use real-time data to adjust your instructional strategy and try other ways of engaging your students during class
Manage student interactions by automatically grouping students for discussion, teamwork, and peer-to-peer learning

Real-time Data Analysis Exercises. Using current macro data to help students understand the impact of changes in economic variables, Real-Time Data Analysis Exercises communicate directly with the Federal Reserve Bank of St. Louis’s FRED^® site and update as new data are available.
Enhanced eText. Engagement in lecture is essential to student success, and continuing that engagement outside of class is just as critical. MyEconLab with Enhanced eText keeps students engaged in learning on their own time, while helping them achieve greater conceptual understanding of course material. The Enhanced eText’s animations bring learning to life, and its interactive tutorials and exercises allow students to apply the very concepts they’re reading about. The results of all exercises feed into the MyEconLab Study Plan, powered by Knewton, which provides an exceptional adaptive learning experience for each individual student. Combining resources that illuminate content with accessible self-assessment, MyEconLab with Enhanced eText provides students with a complete digital learning experience–all in one place.

Figure Animations. Every textbook figure can be worked through using a step-by-step animation, with audio, to help students learn the intuition behind reading and interpreting graphs. These animations may be used for review, or as an instructional aid in the classroom.
For each major figure, a graph drawing exercise accompanies the step-by-step animation. The student builds and interprets the key diagrams and develops understanding by working a multiple choice question about the figure. Each graph drawing exercise is auto-graded and feeds into MyEconLab’s Adaptive Study Plan.
Each chapter concludes with a Worked Problem that consists of questions, solutions, and a key figure. These problems can be worked in the enhanced eText directly from the Worked Problem page. As the student works through each problem, feedback and just-in-time learning aids help the student develop proficiency with the concept.
Automatic Real-Time Updating. Figures labeled MyEconLab Real-Time Data are updated using the most recent data available from the FRED database maintained by the Federal Reserve Bank of St. Louis.
Key Terms Quiz links provide opportunities for students to check their knowledge of the definitions and uses of the key terms.

Reporting Dashboard. View, analyze, and report learning outcomes clearly and easily. Available via the Gradebook and fully mobile-ready, the Reporting Dashboard presents student performance data at the class, section, and program levels in an accessible, visual manner.
MyEconLab icon Videos. Key figures and diagrams from the textbook are presented in step-by-step animations with audio explanations of the action.
LMS Integration. Link from any LMS platform to access assignments, rosters, and resources, and synchronize MyLab grades with your LMS gradebook. For students, new direct, single sign-on provides access to all the personalized learning MyLab resources that make studying more efficient and effective.
Mobile Ready. Students and instructors can access multimedia resources and complete assessments right at their fingertips, on any mobile device.
HTML5 Player Enhancements. In addition to matching the Flash player’s support of Accessibility requirements, the HTML5 player has a new “Show Work” feature to allow students to enter text either from a keyboard or stylus and to draw freehand on different backgrounds, such as a coordinate graph, with multiple fonts and colors. Students can also continue to upload images such as phone-photos of handwritten work. Printing enhancements include:

a more pen-and-paper-friendly layout of exercises
the ability for instructors to choose whether to print the header; to include an honor statement; and to print with answers inline, after each question, or on a separate sheet

Macroeconomics, 9th edition

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