Principles of Macroeconomics

The successful first edition of this book has undergone several improvements. Based on reviewer feedback, this edition offers (1) even more streamlined coverage of the cost-benefit approach in the introductory chapter; (2) exercises that are more closely tied to the examples; (3) expanded narrative explanations of important principles, making them more accessible to average students; and (4) expanded coverage of several key topics. The result is a revision that is motivating to students, an effective text for teaching, and an exciting first course in Economics. - The ambitious web site contains a host of features to enhance teaching, including dynamic graphs, video lectures, e-mail updates, microeconomic experiments, current news articles, information about the text, eLearning sessions, and more. - The material from the First Edition's Chapters 1 and 2 has been reworked and condensed into one chapter in an effort to launch these important concepts as clearly and efficiently as possible. - The exposition of the short-run model has been simplified and now relies almost entirely on graphs, narration, and economic intuition, with full algebraic treatments contained in appendixes.