Brief principles of macroeconomics

Description

Cover About the Author Preface: To the Instructor Brief Contents Contents Preface: To the Student Chapter 1: Ten Principles of Economics 1-1 How People Make Decisions 1-2 How People Interact 1-3 How the Economy as a Whole Works 1-4 Conclusion Chapter in a Nutshell Key Concepts Questions for Review Problems and Applications Chapter 2: Thinking Like an Economist 2-1 The Economist as Scientist 2-2 The Economist as Policy Adviser 2-3 Why Economists Disagree 2-4 Let's Get Going Chapter in a Nutshell Key Concepts Questions for Review Problems and Applications Appendix Graphing: A Brief Review Chapter 3: Interdependence and the Gains from Trade 3-1 A Parable for the Modern Economy 3-2 Comparative Advantage: The Driving Force of Specialization 3-3 Applications of Comparative Advantage 3-4 Conclusion Chapter in a Nutshell Key Concepts Questions for Review Problems and Applications Chapter 4: The Market Forces of Supply and Demand 4-1 Markets and Competition 4-2 Demand 4-3 Supply 4-4 Supply and Demand Together 4-5 Conclusion: How Prices Allocate Resources Chapter in a Nutshell Key Concepts Questions for Review Problems and Applications Chapter 5: Measuring a Nation's Income 5-1 The Economy's Income and Expenditure 5-2 The Measurement of GDP 5-3 The Components of GDP 5-4 Real versus Nominal GDP 5-5 Is GDP a Good Measure of Economic Well-Being? 5-6 Conclusion Chapter in a Nutshell Key Concepts Questions for Review Problems and Applications Chapter 6: Measuring the Cost of Living 6-1 The Consumer Price Index 6-2 Correcting Economic Variables for the Effects of Inflation 6-3 Conclusion Chapter in a Nutshell Key Concepts Questions for Review Problems and Applications Chapter 7: Production and Growth 7-1 Economic Growth around the World 7-2 Productivity: Its Role and Determinants 7-3 Economic Growth and Public Policy 7-4 Conclusion: The Importance of Long-Run Growth Chapter in a Nutshell Key Concepts Questions for Review Problems and Applications Chapter 8: Saving, Investment, and the Financial System 8-1 Financial Institutions in the U.S. Economy 8-2 Saving and Investment in the National Income Accounts 8-3 The Market for Loanable Funds 8-4 Conclusion Chapter in a Nutshell Key Concepts Questions for Review Problems and Applications Chapter 9: The Basic Tools of Finance 9-1 Present Value: Measuring the Time Value of Money 9-2 Managing Risk 9-3 Asset Valuation 9-4 Conclusion Chapter in a Nutshell Key Concepts Questions for Review Problems and Applications Chapter 10: Unemployment 10-1 Identifying Unemployment 10-2 Job Search 10-3 Minimum-Wage Laws 10-4 Unions and Collective Bargaining 10-5 The Theory of Efficiency Wages 10-6 Conclusion Chapter in a Nutshell Key Concepts Questions for Review Problems and Applications Chapter 11: The Monetary System 11-1 The Meaning of Money 11-2 The Federal Reserve System 11-3 Banks and the Money Supply 11-4 The Fed's Tools of Monetary Control 11-5 Conclusion Chapter in a Nutshell Key Concepts Questions for Review Problems and Applications Chapter 12: Money Growth and Inflation 12-1 The Classical Theory of Inflation 12-2 The Costs of Inflation 12-3 Conclusion Chapter in a Nutshell Key Concepts Questions for Review Problems and Applications Chapter 13: Open-Economy Macroeconomics: Basic Concepts 13-1 The International Flows of Goods and Capital 13-2 The Prices for International Transactions: Real and Nominal Exchange Rates 13-3 A First Theory of Exchange-Rate Determination: Purchasing-Power Parity 13-4 Conclusion Chapter in a Nutshell Key Concepts Questions for Review Problems and Applications Chapter 14: A Macroeconomic Theory of the Open Economy 14-1 Supply and Demand for Loanable Funds and for Foreign-Currency Exchange 14-2 Equilibrium in the Open Economy 14-3 How Policies and Events Affect an Open Economy 14-4 Conclusion Chapter in a Nutshell Key Concepts Questions for Review Problems and Applications Chapter 15: Aggregate Demand and Aggregate Supply 15-1 Three Key Facts about Economic Fluctuations 15-2 Explaining Short-Run Economic Fluctuations 15-3 The Aggregate-Demand Curve 15-4 The Aggregate-Supply Curve 15-5 Two Causes of Economic Fluctuations 15-6 Conclusion Chapter in a Nutshell Key Concepts Questions for Review Problems and Applications Chapter 16: The Influence of Monetary and Fiscal Policy on Aggregate Demand 16-1 How Monetary Policy Influences Aggregate Demand 16-2 How Fiscal Policy Influences Aggregate Demand 16-3 Using Policy to Stabilize the Economy 16-4 Conclusion Chapter in a Nutshell Key Concepts Questions for Review Problems and Applications Chapter 17: The Short-Run Trade-Off between Inflation and Unemployment 17-1 The Phillips Curve 17-2 Shifts in the Phillips Curve: The Role of Expectations 17-3 Shifts in the Phillips Curve: The Role of Supply Shocks 17-4 The Cost of Reducing Inflation 17-5 Conclusion Chapter in a Nutshell Key Concepts Questions for Review Problems and Applications Chapter 18: Six Debates over Macroeconomic Policy 18-1 Should Monetary and Fiscal Policymakers Try to Stabilize the Economy? 18-2 Should the Government Fight Recessions with Spending Hikes Rather Than Tax Cuts? 18-3 Should Monetary Policy Be Made by Rule Rather Than by Discretion? 18-4 Should the Central Bank Aim for Zero Inflation? 18-5 Should the Government Balance Its Budget? 18-6 Should the Tax Laws Be Reformed to Encourage Saving? 18-7 Conclusion Chapter in a Nutshell Questions for Review Problems and Applications Glossary Index