By Michael Parkin
For the two-semester principles of economics course.
An intuitive and grounded approach to economics
Get students to think like an Economist using the latest policy and data while incorporating global issues. Macroeconomics, Twelfth Edition builds on the foundation of the previous edition and retains a thorough and careful presentation of the principles of economics. Macroeconomics emphasizes real-world applications, the development of critical thinking skills, diagrams renowned for pedagogy and clarity, and path-breaking technology.
Each chapter opens with one of today's central issues and is then revisited in the chapter ending Economics in the News feature. This Parkin hallmark encourages student to think critically about a news article relating to the issue, demonstrating how thinking like an economist can bring a clearer perspective to and deeper understanding of today’s events. Students will begin to think about issues the way real economists do and learn how to explore difficult policy problems to make more informed decisions in their own economic lives.
1. What Is Economics?
2. The Economic Problem
3. Demand and Supply
II. MONITORING MACROECONOMIC PERFORMANCE
4. Measuring GDP and Economic Growth
5. Monitoring Jobs and Inflation
III. MACROECONOMIC TRENDS
6. Economic Growth
7. Finance, Saving, and Investment
8. Money, the Price Level, and Inflation
9. The Exchange Rate and the Balance of Payments
IV. MACROECONOMIC FLUCTUATIONS
10. Aggregate Supply and Aggregate Demand
11. Expenditure Multipliers: The Keynesian Model
12. U.S. Inflation, Unemployment, and Business Cycle
V. MACROECONOMIC POLICY
13. Fiscal Policy
14. Monetary Policy
15. International Trade Policy