Synopses & Reviews
Offering a unique blend of solid theoretical content and student accessibility, this text: 1) covers all the basics of macroeconomics, 2) gives students a clear idea of how economists think about the world, 3) stresses the key concepts in economics, and 4) is extremely rich in intriguing applications that convey the prevalence of economics in everyday life. Many principles instructors are constantly challenged with the goal of getting students excited about realization that economics is everywhere! Arnold has taken this to another level. He is so passionate about touching his students that he felt the need to write a Macroeconomics text that is dedicated to opening the science of economics through the pictures and applications of our lives. Arnold is considered the most innovative author in this market to meet the fast pace interests of both instructors and students. His five themes of Theory and Model building, Key Concepts, Primary and Secondary Consequences, Real-World Applications, and the idea that Economics is about gifts, exchanges, and transfers, set the tone for a teaching text that is extremely approachable by instructors and students.
Review
Arnold is our first choice since our students can understand it and at the same time it covers all basic concepts that the students need to learn.
Review
I would adopt the book simply for lucid explanation of, for some students, difficult topics. The author has clearly given these topics, and how to present them, much thought.
Synopsis
Offering a unique blend of solidtheoretical content and student accessibility, this text: 1) covers all the basics of macroeconomics, 2) gives student a clear idea of how economists think about the world, 3) stresses the key concepts in economics, and 4) is extremely rich in intriguing applications that convey the prevalence of economics in everyday life. By applying economics to phenomenon that students are familiar with and interested in, this book demonstrates like no other text how economic analysis can be applied to virtually anything of interest, thus helping students develop true economic intuition. Additional student-oriented features include a unique active-learning format, an emphasis on developing economic analysis skills, and an outstanding visual program for exhibits and graphs.
About the Author
Roger Arnold is Professor of Economics at California State University San Marcos. He earned a B.S. in Economics in 1974 from the University of Birmingham in England. He received an M.A. in 1976 and his Ph.D. in 1979 from Virginia Polytechnic Institute and State University. Arnold's fields of specialization include general microeconomic theory and monetary theory. He has been a member of the economics faculty at California State University Northridge, University of Oklahoma, Hillsdale College, University of Nevada Las Vegas, and California State University San Marcos. He was chair of the Economics Department for two years at University of Nevada Las Vegas and for seven years at California State University San Marcos. During his tenure at UNLV he was regularly one of the top five finalists for the teacher of the year award (in the College of Business and Economics); in 1987, he was the recipient of the best researcher of the year award. He has written numerous academic articles, hundreds of newspaper columns on economics, and been a regular guest on talk radio to discuss the state of the economy. He is the author of two textbooks, Economics In Our Times and Economics 7e as well as a supplementary text for principles of Economics, How to Think Like an Economist.
Table of Contents
AN INTRODUCTION TO ECONOMICS PART 1. ECONOMICS: THE SCIENCE OF SCARCITY 1. What Economics is About Appendix A. Working with Diagrams Appendix B. Should You Major in Economics? 2. Economic Activities: Producing and Trading 3. Supply and Demand: Theory 4. Supply and Demand: Practice MACROECONOMICS PART 2. MACROECONOMIC FUNDAMENTALS 5. Macroeconomic Measurements, Part I: Prices and Unemployment 6. Macroeconomic Measurements, Part II: GDP and Real GDP PART 3. MACROECONOMIC STABILITY, INSTABILITY, AND FISCAL POLICY 7. Aggregate Demand and Aggregate Supply 8. The Self-Regulating Economy 9. Economic Instability: A Critique of the Self-Regulating Economy 10. Fiscal Policy 11. More on Government Spending and Taxes: Beyond Fiscal Policy PART 4. MONEY, THE ECONOMY, AND MONETARY POLICY 12. Money and Banking 13. The Federal Reserve System 14. Money and the Economy 15. Monetary Policy PART 5. EXPECTATIONS AND GROWTH 16. Expectations Theory and the Economy 17. Economic Growth: Resources, Technology, and Ideas