Macroeconomics aims to teach students how to apply economic principles to guide the decisions they make in their own lives. Uses real data – Highlights major economic concepts by using data from field experiments, lab experiments, naturally occurring data and government data. Relevant – The role of surge pricing in Uber driver supply and rider demand is discussed, helping students more deeply understand the markets that they personally use.
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PART I: INTRODUCTION TO ECONOMICS   1. The Principles and Practice of Economics 2. Economic Methods and Economic Questions 3. Optimization: Doing the Best You Can 4. Demand, Supply, and Equilibrium   PART II: INTRODUCTION TO MACROECONOMICS   5. The Wealth of Nations: Defining and Measuring Macroeconomic Aggregates 6. Aggregate Incomes   PART III: LONG-RUN GROWTH AND DEVELOPMENT   7. Economic Growth 8. Why Isn’t the Whole World Developed?   PART IV: EQUILIBRIUM IN THE MACROECONOMY   9. Employment and Unemployment 10. Credit Markets 11. The Monetary System   PART V: SHORT-RUN FLUCTUATIONS AND MACROECONOMICS POLICY   12. Short-Run Fluctuations 13. Countercyclical Macroeconomic Policy   PART VI: MACROECONOMICS IN A GLOBAL ECONOMY   14. Macroeconomics and International Trade 15. Open Economy Macroeconomics   CHAPTERS ON THE WEB   1. Financial Decision Making 2. Economics of Life, Health, and the Environment 3. Political Economy
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This title is a Pearson Global Edition. The Editorial team at Pearson has worked closely with educators around the world to include content which is especially relevant to students outside the United States.   About the book   Teach economics through three unified themes Three key principles—optimization, equilibrium, and empiricism—lie at the heart of the authors’ approach. Chapters 1–4 introduce these key themes, and lay the groundwork for understanding the economic way of thinking about the world. Optimization. The first principle—that people try to choose the best available option—is optimization. Economists believe that optimization explains most choices people make, including minor decisions like deciding whether to eat a cheeseburger, and major decisions like deciding whom to date or marry. When people fail to optimize perfectly, economic reasoning can be used to analyze the mistake and to suggest a better course of action. Equilibrium. Economic systems tend toward equilibrium, wherein each economic actor feels that he or she cannot do any better by picking another course of action. This principle highlights the connections among economic actors and their choices. In a state of equilibrium, consumers and purveyors of goods and services are simultaneously optimizing, and their behaviors are consequently intertwined. Empiricism. While the first two key principles are conceptual, the third is methodological. Economists use data to test economic theories, learn about the world, and speak to policymakers. The emphasis on matching theories with real-world data to answer specific questions helps to show students the evidence behind the theory, making economics concrete, interesting, and fun.   Real issues engage students with the content NEW! Examination of causality. By studying recent research that reports a positive correlation between expensive weddings and high rates of divorce, students will learn to determine the difference between correlation and causality, and better understand the role of omitted variables (Chapter 2). REVISED! Coverage of the fracking revolution and its impact on oil and gas prices. Supply and demand come alive when students can see how the recent rightward shift in the oil supply curve--due to the development of fracking technologies--has played a role in halving the equilibrium price of oil (Chapter 4). NEW! Focus on the shared economy. The role of surge pricing in equilibrating Uber driver supply and rider demand is discussed, helping students to more deeply understand the markets that they personally use (Chapter 7). NEW! Coverage of the recent election to teach topics like probability. Students use analytic tools to understand how to interpret forecasts on the eve of the election (Chapter 15). NEW! Coverage describing the growth of economic inequality, and emphasizing that inequality is not measured in economic aggregates, such as GDP (Chapter 19). An evidence based approach using real issues and data Evidence-Based Economics (EBE) features show how economists use data to answer the question posed in the opening paragraph of each chapter. EBEs use actual data from field experiments, lab experiments, naturally occurring data, or government data, while highlighting major concepts in the chapter. These features let students get a real look at economics as it plays out in the world around them. Examples include: o NEW! Uber and the invisible hand? o NEW! What can the government do to lower earthquakes in Oklahoma?   ·    Letting the Data Speak features reinforce the theme of evidence behind t
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Real issues engage students with the content Examination of causality. By studying recent research that reports a positive correlation between expensive weddings and high rates of divorce, students will learn to determine the difference between correlation and causality, and better understand the role of omitted variables (Chapter 2). Coverage of the fracking revolution and its impact on oil and gas prices. Supply and demand come alive when students can see how the recent rightward shift in the oil supply curve--due to the development of fracking technologies--has played a role in halving the equilibrium price of oil (Chapter 4).   Focus on the shared economy. The role of surge pricing in equilibrating Uber driver supply and rider demand is discussed, helping students to more deeply understand the markets that they personally use (Chapter 7). Coverage of the recent election to teach topics like probability. Students use analytic tools to understand how to interpret forecasts on the eve of the election (Chapter 15). Coverage describing the growth of economic inequality, and emphasizing that inequality is not measured in economic aggregates, such as GDP (Chapter 19). An evidence based approach using real issues and data Evidence-Based Economics (EBE) features show how economists use data to answer the question posed in the opening paragraph of each chapter. EBEs use actual data from field experiments, lab experiments, and the government or naturally occurring data, while highlighting major concepts in the chapter. These features let students get a real look at economics as it plays out in the world around them, and gives them the skills to question systematically and evaluate what they read. Examples include: o Uber and the invisible hand? o What can the government do to lower earthquakes in Oklahoma? Letting the Data Speak features reinforce the theme of evidence behind the theory. These short, targeted explorations analyze an economic question by using real data as the foundation of the discussion. Among the many issues explored: o Forecasts on the eve of the election o The great productivity puzzle--discussing how we may be experiencing a slow-down of aggregate productivity despite the rapid introduction of a range of new technologies in the economy (Chapter 21) o Democracy and growth, showing the positive impact of democratic political institutions on economic growth (Chapter 22) o Financing start-ups (Chapter 24) o The response of consumption to tax cuts (Chapter 27) Choice and Consequence features emphasize optimization--one of the key themes in the book--by focusing on making the best decision. These features ask students to make an economic decision, or evaluate the consequences of past real decisions. The authors then explain how an economist might analyze the same decision. Examples of choices investigated include: o The societal consequences of the expulsion of Jewish faculty from universities in Nazi Germany (Chapter 20) o Minimum wage laws and employment (Chapter 23) o Luddite resistance to new technology and what this can teach us about the disruption that new and more productive robots are bringing to the economy today (Chapter 23) o Obtaining reserves outside of the federal funds market (Chapter 25) o The new administration’s fiscal policy proposals (Chapter 27) o The political forces that influence trade policy (Chapter 28) Graphical Exhibit describing the relationship between interest rates and net capital outflows, unifying material from several chapters for the analysis of open economy macroeconomics (Chapter 29)
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Produktdetaljer

ISBN
9781292252919
Publisert
2018
Utgave
2. utgave
Utgiver
Vendor
Pearson Education Limited
Vekt
979 gr
Høyde
274 mm
Bredde
218 mm
Dybde
18 mm
Aldersnivå
U, 05
Språk
Product language
Engelsk
Format
Product format
Heftet
Antall sider
448