Macroeconomics, Global Edition, 5th edition

Published by Pearson (September 3, 2014) © 2015

  • Glenn Hubbard Columbia University
  • Anthony Patrick O'Brien Lehigh University
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Title overview

For Principles of Macroeconomics courses.

Reveal the relevance of economics through real-world business examples. One of the challenges of teaching Principles of Macroeconomics is fostering interest in concepts that may not seem applicable to students' lives. Macroeconomics, Fifth Edition makes economics relevant by demonstrating how real businesses use economics to make decisions every day. Regardless of their future career path - opening an art studio, trading on Wall Street, or bartending at the local pub - students will benefit from understanding the economic forces behind their work.

Table of contents

  • I. Introduction
  • 1. Economics: Foundations and Models
  • 2. Trade-offs, Comparative Advantage, and the Market System
  • 3. Where Prices Come From: The Interaction of Demand and Supply
  • 4. Economic Efficiency, Government Price Setting, and Taxes
  • 5. The Economics of Health Care
  • II. Firms in the Domestic and International Economies
  • 6. Firms, the Stock Market, and Corporate Governance
  • 7. Comparative Advantage and the Gains from International Trade
  • III. Macroeconomic Foundations and Long-Run Growth
  • 8. GDP: Measuring Total Production and Income
  • 9. Unemployment and Inflation
  • 10. Economic Growth, the Financial System, and Business Cycles
  • 11. Long-Run Economic Growth: Sources and Policies
  • IV. Short-Run Fluctuations
  • 12. Aggregate Expenditure and Output in the Short Run
  • 13. Aggregate Demand and Aggregate Supply Analysis
  • V. Monetary and Fiscal Policy
  • 14. Money, Banks, and the Federal Reserve System
  • 15. Monetary Policy
  • 16. Fiscal Policy
  • 17. Inflation, Unemployment, and Federal Reserve Policy
  • VI. The International Economy
  • 18. Macroeconomics in an Open Economy
  • 19. The International Financial System

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