Macroeconomics

0.0

Demonstrate that real businesses use economics to make real decisions daily. This is motivating to all students, whether they are business majors or not. All students can relate to businesses they encounter in their everyday lives. Whether they open an art studio, do social work, trade on Wall Street, work for the government, or bartend at the local pub, students will benefit from understanding the economic forces behind their work. Salient Features Chapter-Opening Cases about how the economics about to be learned impact a real business (a) set a real context for learning (b) spark students' interest (c) provide a unifying theme for the chapter. Chapter Examples and Figures consistently revisit the business discussed in the opener and use that business (or industry) to motivate the economic principles. An Inside Look concludes chapters with a newspaper article illustrating how a key principle taught in the chapter was used by the chapter-opening case company to make a real business decision Table of Contents I. Introduction Economics: Foundations and Models Tradeoffs, Comparative Advantage, and the Market System Where Prices Come From: The Interaction of Demand & Supply Economic Efficiency, Government Price Setting, and Taxes II. Firms in the Domestic & International Economies Firms, the Stock Market, and Corporate Governance Comparative Advantage and the Gains from International Trade III. Macroeconomic Foundations and Long-Run Growth GDP: Measuring Total Production and Income Unemployment & Inflation Business Cycles, the Financial System, and Economic Growth Long-Run Growth: Sources & Policies IV. Short-Run Fluctuations Output & Expenditure in the Short Run AD/AS Analysis V. Monetary and Fiscal Policy Money, Banks, and the Federal Reserve System Monetary Policy Fiscal Policy Inflation, Unemployment, & Federal Reserve Policy VI. The International Economy Macroeconomics in an Open Economy The International Financial System