Synopses & Reviews
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.
Acclaimed economists Hall and Lieberman have made the latest edition of MACROECONOMICS: PRINCIPLES AND APPLICATIONS as current as the headlines. Hall and Lieberman's careful focus on recent economic theories and applications, and how they relate to practical questions, effectively communicates that economics is an integrated, powerful body of knowledge that can address complex domestic and global issues.
Macroeconomics: Principles and Applications is a straightforward, no-nonsense Principles book that emphasizes economic theory and applications. The book is a study tool for students, and the pedagogical approach and in-text features were chosen to reinforce that theme.
About the Author
Robert E. Hall is a prominent applied economist. He is the Robert and Carole McNeil Joint Professor of Economics at Stanford University and Senior Fellow at Stanford's Hoover Institution, where he conducts research on inflation, unemployment, taxation, monetary policy, and the economics of high technology. He received his Ph.D. from MIT and has taught there as well as at the University of California, Berkeley. He is the President of the American Economic Association for the year 2010. He is also director of the research program on Economic Fluctuations of the National Bureau of Economic Research, and Chairman of the Bureau's Committee on Business Cycle Dating, which maintains the chronology of the U.S. business cycle. He has published numerous monographs and articles in scholarly journals, and coauthored a popular intermediate text. Hall has advised the Treasury Department and the Federal Reserve Board on national economic policy, and has testified on numerous occasions before congressional committees.Marc Lieberman is Clinical Professor of Economics at New York University. He received his Ph.D. from Princeton University. Lieberman has presented his extremely popular Principles of Economics course at Harvard, Vassar, the University of California at Santa Cruz, and the University of Hawaii, as well as at NYU. He has twice won NYU's Golden Dozen teaching award, and also the Economics Society Award for Excellence in Teaching. He is coeditor and contributor to The Road to Capitalism: Economic Transformation in Eastern Europe and the Former Soviet Union. Lieberman has consulted for the Bank of America and the Educational Testing Service. In his spare time, he is a professional screenwriter, and teaches screenwriting at NYU's School of Continuing and Professional Studies.
Table of Contents
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.