This brand-new principles of macroeconomics text is the most exciting new entry in years. Written by two well-known and well-respected economists, Bob Frank and Ben Bernanke, the text seeks to teach introductory students the core economic concepts-the essence of economics-without overwhelming them with details. Principles of Macroeconomics presents the material in an intuitive way that avoids excessive math. The authors introduce a well-articulated short list of core principles, reinforce them by illustrating and applying each principle in several contexts, and then ask students to work exercises to see what they?ve learned. The text seeks to create ?Economic Naturalists?; that is, after reading the text, students will ask (and answer) questions about their economic environment. For example, students will see Braille dots on drive-up ATMs and ask why they?re there. Peppered with such thought-provoking examples, Frank and Bernanke not only engage students, but teach them to see each feature of their economic landscape as the reflection of an implicit or explicit cost-benefit calculation. culation.

Part I Introduction 1. Thinking Like an Economist 2. Some Common Pitfalls for Decision Makers 3. Comparative Advantage: The Basis for Exchange 4. Supply and Demand: An Introduction Part II Macroeconomics: Issues and Data 5. Macroeconomics: The Bird?s-Eye View of the Economy 6. Measuring Economic Activity: GDP and Unemployment 7. Measuring the Price Level and Inflation Part III The Long Run 8. Economic Growth, Productivity, and Living Standards 9. Workers, Wages, and Unemployment in the Modern Economy 10. Saving and Capital Formation 11. Financial Markets, Money, and the Federal Reserve Part IV The Short Run 12. Short-Term Economic Fluctuations: An Introduction 13. Aggregate Demand and Output in the Short Run 14. Stabilizing Aggregate Demand: The Role of the Fed 15. Inflation, Aggregate Demand, and Aggregate Supply Part V The International Economy 16. International Trade and Capital Flows 17. Exchange Rates and the Open Economy