Because issues of policy and real applications are critical to the principles of economics course, acclaimed economists Hall and Lieberman have made the fourth edition of MACROECONOMICS: PRINCIPLES AND APPLICATIONS as current as today's headlines, giving students a real-world, up-to-the-minute overview that presents economics as a unified discipline. Taking a no-nonsense, policy approach to economic theory and application, this comprehensive text is very accessible, equipping readers with a solid foundation in economics that they can build upon wherever their career paths may lead. A wealth of interactive online exercises, graphing applications, and research opportunities give students hands-on experience working with current economic issues. Hall and Lieberman's careful focus on core theoretical ideas and systematic application of theoretical tools to timely, practical questions conveys the message that economics is an integrated, powerful body of knowledge that can effectively address domestic and global issues.
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Part I: PRELIMINARIES. 1. What Is Economics? 2. Scarcity, Choice, and Economic Systems. 3. Supply and Demand. 4. Working with Supply and Demand. Part II: MACROECONOMICS: BASIC CONCEPTS. 5. What Macroeconomics Tries to Explain. 6. Production, Income, and Employment. 7. The Price Level and Inflation. Part III: LONG-RUN MACROECONOMICS. 8. The Classical Long-Run Model. 9. Economic Growth and Rising Living Standards. Part IV: THE SHORT-RUN MODEL AND FISCAL POLICY. 10. Economic Fluctuations. 11. The Short-Run Macro Model. 12. Fiscal Policy. Part V: EXPANDING THE MODEL: MONEY, PRICES, AND THE GLOBAL ECONOMY. 13. Money, Banks, and the Federal Reserve. 14. The Money Market and Monetary Policy. 15. Aggregate Demand and Aggregate Supply. 16. Inflation and Monetary Policy. 17. Exchange Rates and Macroeconomic Policy.
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