Principles of Macroeconomics 2e covers the scope and sequence of most introductory economics courses. The text includes many current examples, which are handled in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts. The second edition has been thoroughly revised to increase clarity, update data and current event impacts, and incorporate the feedback from many reviewers and adopters.

Principles of Macroeconomics 2e

1.1 What Is Economics, and Why Is It Important?

1.3 How Economists Use Theories and Models to Understand Economic Issues

1.4 How To Organize Economies: An Overview of Economic Systems

Introduction to Choice in a World of Scarcity

2.1 How Individuals Make Choices Based on Their Budget Constraint

2.2 The Production Possibilities Frontier and Social Choices

2.3 Confronting Objections to the Economic Approach

3.1 Demand, Supply, and Equilibrium in Markets for Goods and Services

3.2 Shifts in Demand and Supply for Goods and Services

3.3 Changes in Equilibrium Price and Quantity: The Four-Step Process

Introduction to Labor and Financial Markets

4.1 Demand and Supply at Work in Labor Markets

4.2 Demand and Supply in Financial Markets

4.3 The Market System as an Efficient Mechanism for Information

5.1 Price Elasticity of Demand and Price Elasticity of Supply

5.2 Polar Cases of Elasticity and Constant Elasticity

Introduction to the Macroeconomic Perspective

6.1 Measuring the Size of the Economy: Gross Domestic Product

6.2 Adjusting Nominal Values to Real Values

6.5 How Well GDP Measures the Well-Being of Society

7.1 The Relatively Recent Arrival of Economic Growth

7.2 Labor Productivity and Economic Growth

8.1 How Economists Define and Compute Unemployment Rate

8.3 What Causes Changes in Unemployment over the Short Run

8.4 What Causes Changes in Unemployment over the Long Run

9.2 How to Measure Changes in the Cost of Living

9.3 How the U.S. and Other Countries Experience Inflation

Introduction to the International Trade and Capital Flows

10.2 Trade Balances in Historical and International Context

10.3 Trade Balances and Flows of Financial Capital

10.4 The National Saving and Investment Identity

10.5 The Pros and Cons of Trade Deficits and Surpluses

10.6 The Difference between Level of Trade and the Trade Balance

Chapter 10. The International Trade and Capital Flows

Introduction to the Aggregate Supply–Aggregate Demand Model

11.1 Macroeconomic Perspectives on Demand and Supply

11.2 Building a Model of Aggregate Demand and Aggregate Supply

11.5 How the AD/AS Model Incorporates Growth, Unemployment, and Inflation

11.6 Keynes’ Law and Say’s Law in the AD/AS Model

Chapter 11. The Aggregate Demand/Aggregate Supply Model

Introduction to the Keynesian Perspective

12.1 Aggregate Demand in Keynesian Analysis

12.2 The Building Blocks of Keynesian Analysis

12.4 The Keynesian Perspective on Market Forces

Introduction to the Neoclassical Perspective

13.1 The Building Blocks of Neoclassical Analysis

13.2 The Policy Implications of the Neoclassical Perspective

13.3 Balancing Keynesian and Neoclassical Models

14.2 Measuring Money: Currency, M1, and M2

Introduction to Monetary Policy and Bank Regulation

15.1 The Federal Reserve Banking System and Central Banks

15.3 How a Central Bank Executes Monetary Policy

15.4 Monetary Policy and Economic Outcomes

Chapter 15. Monetary Policy and Bank Regulation

Introduction to Exchange Rates and International Capital Flows

16.1 How the Foreign Exchange Market Works

16.2 Demand and Supply Shifts in Foreign Exchange Markets

16.3 Macroeconomic Effects of Exchange Rates

Chapter 16. Exchange Rates and International Capital Flows

Introduction to Government Budgets and Fiscal Policy

17.3 Federal Deficits and the National Debt

17.4 Using Fiscal Policy to Fight Recession, Unemployment, and Inflation

17.6 Practical Problems with Discretionary Fiscal Policy

Chapter 17. Government Budgets and Fiscal Policy

Introduction to the Impacts of Government Borrowing

18.1 How Government Borrowing Affects Investment and the Trade Balance

18.3 How Government Borrowing Affects Private Saving

18.4 Fiscal Policy, Investment, and Economic Growth

Chapter 18. The Impacts of Government Borrowing

Introduction to Macroeconomic Policy around the World

19.1 The Diversity of Countries and Economies across the World

19.2 Improving Countries’ Standards of Living

19.3 Causes of Unemployment around the World

19.4 Causes of Inflation in Various Countries and Regions

Chapter 19. Macroeconomic Policy Around the World

20.2 What Happens When a Country Has an Absolute Advantage in All Goods

20.3 Intra-industry Trade between Similar Economies

20.4 The Benefits of Reducing Barriers to International Trade

Introduction to Globalization and Protectionism

21.1 Protectionism: An Indirect Subsidy from Consumers to Producers

21.2 International Trade and Its Effects on Jobs, Wages, and Working Conditions

21.3 Arguments in Support of Restricting Imports

21.4 How Governments Enact Trade Policy: Globally, Regionally, and Nationally

Chapter 21. Globalization and Protectionism

Appendix A The Use of Mathematics in Principles of Economics

OpenStax

Principles of Macroeconomics for AP® Courses 2e covers the scope and sequence requirements for an Advanced Placement® macroeconomics course and is listed on the College Board’s AP® example textbook list. The second edition includes many current examples and recent data from FRED (Federal Reserve Economic Data), which are presented in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts.

Principles of Macroeconomics for AP® Courses 2e

Steven A. Greenlaw

David Shapiro

Principles of Economics 2e covers the scope and sequence of most introductory economics courses. The text includes many current examples, which are handled in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts. The second edition has been thoroughly revised to increase clarity, update data and current event impacts, and incorporate the feedback from many reviewers and adopters.

Principles of Economics 2e

Principles of Microeconomics 3e covers the scope and sequence of most one semester introductory microeconomics courses. The third edition takes a balanced approach to the theory and application of microeconomics concepts. The text uses conversational language and ample illustrations to explore economic theories, and provides a wide array of examples using both fictional and real-world applications. The third edition has been carefully and thoroughly updated to reflect recent developments, as well as to provide a deeper background in diverse contributors and their impacts on economic thought and analysis. For example, the third edition highlights the research and views of a broader group of economists.

Principles of Microeconomics 3e

Daniel MacDonald

Principles of Microeconomics 2e covers the scope and sequence of most introductory microeconomics courses. The text includes many current examples, which are handled in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts. The second edition has been thoroughly revised to increase clarity, update data and current event impacts, and incorporate the feedback from many reviewers and adopters.

Principles of Microeconomics 2e 

Principles of Economics 3e covers the scope and sequence of most introductory economics courses. The third edition takes a balanced approach to the theory and application of economics concepts. The text uses conversational language and ample illustrations to explore economic theories, and provides a wide array of examples using both fictional and real-world scenarios. The third edition has been carefully and thoroughly updated to reflect current data and understanding, as well as to provide a deeper background in diverse contributors and their impacts on economic thought and analysis. For example, the third edition highlights the research and views of a broader group of economists. Brief references and deeply explored socio-political examples have been updated to showcase the critical – and sometimes unnoticed – ties between economic developments and topics relevant to students.

Principles of Economics 3e

Principles of Macroeconomics 3e covers the scope and sequence of most one semester introductory macroeconomics courses. The third edition takes a balanced approach to the theory and application of macroeconomics concepts. The text uses conversational language and ample illustrations to explore economic theories, and provides a wide array of examples using both fictional and real-world scenarios. The third edition has been carefully and thoroughly updated to reflect current data and understanding, as well as to provide a deeper background in diverse contributors and their impacts on economic thought and analysis. For example, the third edition highlights the research and views of a broader group of economists. Brief references and deeply explored socio-political examples have also been updated to showcase the critical – and sometimes unnoticed – ties between economic developments and topics relevant to students.

Principles of Macroeconomics 3e

Principles of Microeconomics for AP® Courses 2e covers the scope and sequence requirements for an Advanced Placement® microeconomics course and is listed on the College Board’s AP® example textbook list. The second edition includes many current examples and recent data from FRED (Federal Reserve Economic Data), which are presented in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts.

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Steven A. Greenlaw

Principles of Macroeconomics for AP® Courses 2e

Principles of Economics 2e

Principles of Microeconomics 3e

Principles of Microeconomics 2e

Principles of Economics 3e

Principles of Macroeconomics 3e

Principles of Microeconomics for AP® Courses 2e

Steven A. Greenlaw

David Shapiro

David Shapiro