Principles of MacroeconomicsVersion 8.0 By: John B. Taylor and Akila Weerapana
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- Stimulating vignettes at the beginning of each chapter.
- Problems which have been carefully selected, revised, and tested for this edition.
- Questions for review at the end of every chapter. Brief reviews at the end of each major section summarize the key points in abbreviated form as the chapter evolves.
- Definitions of key terms appear in the margins or hyperlinked online.
This textbook is suitable for the following courses: Introductory Macroeconomics and Principles of Macroeconomics.
Taylor and Weerapana present modern economics in a form that’s intuitive, relevant, and memorable to learners with no prior exposure to the subject. Principles of Macroeconomics engages students by emphasizing the central idea of economics throughout: that people make purposeful choices with scarce resources and interact with other people when they make these choices. The authors bring to bear recent and extensive classroom-based experiences to select real-world examples of how markets work; provide clear explanations of why markets are efficient when the incentives are right and inefficient when the incentives are wrong; and outline examples of economic choices students actually face. The authors stress long-run fundamentals, but they also discuss current public policy issues when the short run matters.
- Now published by FlatWorld at an affordable price in print and digital formats suited to today’s students.
- Updated data and content bring coverage of macroeconomics through to the beginning of 2017.
- Incorporates discussion of new monetary developments since 2011, including QE3, taper, raising of interest rates and the move to negative interest rates in some countries.
- Covers the debate about whether the Fed is unwinding its extraordinary policy measures at an appropriate pace as well as whether the fiscal policy measures implemented in the 2008/09 recession worked, based on academic studies.
- Discusses labor market developments, including the fall in unemployment rates, slow improvement in the employment to population ratio, and the falling labor force participation rate of men.
- Expands the discussion of productivity slowdown, including Robert Gordon's claim that economic headwinds will keep U.S. productivity growth low in the foreseeable future.
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- In Chapter 5.2 changed "10.1 percent in October 2008 " to "10.1 percent in October 2009." (11/9/18)