Personalize Learning with MyEconLab^®

MyEconLab is an online homework, tutorial, and assessment program designed to work with this text to engage students and improve results. Within its structured environment, students practice what they learn, test their understanding, and pursue a personalized study plan that helps them better absorb course material and understand difficult concepts.

• Enhanced e-Text with mini-lecture videos provide a new way of learning. Combining resources that illuminate content with accessible self-assessment, MyEconLab with Enhanced eText provides students with a complete digital learning experience — all in one place.
• Students can watch over 120 mini-lecture videos presented by the author for every figure in the text.
• Mini-Lecture Videos  of all the data and analytic figures in the text, which can be used in class or viewed by the students on their own to provide them with a step-by-step analysis of the graphs.
• The Enhanced Pearson eText is available within the online course materials and offline via an iPad app.

• Digital Interactives The new Digital Interactives in Pearson’s MyEconLab are poised to change how students learn core economic concepts. Organized in progressive levels, each focusing on a core learning outcome, Digital Interactives immerse students in a fundamental economic principle, helping them to learn actively. They can be presented in class as visually stimulating, highly engaging lecture tools, and can also be assigned with assessment questions for grading. Digital Interactives are designed for use in traditional, online, and hybrid courses, and many incorporate real-time data, as well as data display and analysis tools.

• Learning Catalytics™ is an interactive, student response tool that uses students’ smartphones, tablets, or laptops to engage them in more sophisticated tasks and thinking. Now included with MyLab & Mastering with eText, Learning Catalytics enables you to generate classroom discussion, guide your lecture, and promote peer-to-peer learning with real-time analytics. Instructors, you can:

  • Pose a variety of open-ended questions that help your students develop critical thinking skills.

  • Monitor responses to find out where students are struggling.

  • Use real-time data to adjust your instructional strategy and try other ways of engaging your students during class.

  • Manage student interactions by automatically grouping students for discussion, teamwork, and peer-to-peer learning.
• Real-Time Data Analysis Exercises allow instructors to assign problems which use up-to-the-minute data. Each RTDA exercise loads the appropriate and most current available data from FRED, a comprehensive and up-to-date data set maintained by the Federal Reserve Bank of St. Louis. Exercises are graded based on that instance of data, and feedback is provided.
• End-of-chapter questions and applied problems from the text are available in MyEconLab.
• Applications from the text are also available with assignable questions.
• Personal Study Plans are created for each individual student based on their performance on assigned and sample exercises.
• Instant tutorial feedback on a student’s problem and graphing responses to questions.
• Interactive Learning Aids, such as Help Me Solve This (a step-by-step tutorial), help the student right when they need it.
• News articles are available for classroom and assignment use. Up-to-date news articles and complimentary discussion questions are posted weekly to bring today’s news into the classroom and course.
• A powerful Gradebook flexible and rich with information, including student and class data on assignment performance and time on task. 

Economics of Money, Banking and Financial Markets:

Keeps Students Focused and Motivated

• A unifying, analytic framework uses a few basic economic principles to organize students’ thinking about the structure of financial markets, the foreign exchange markets, financial institution management, and the role of monetary policy in the economy.
• A careful, step-by-step development of models (an approach found in the best principles of economics textbooks) makes it easier for students to learn.
• An international perspective is completely integrated throughout the text.
• A thoroughly up-to-date treatment of the latest developments in monetary theory is included.
• A special feature called “Following the Financial News” encourages reading of a financial newspaper
• An applications-oriented perspective with numerous applications and special-topic boxes increases students’ interest by showing them how to apply theory to real-world exampleshe enhanced e-text.
• NEW! Real-time data analysis.  Problems marked with the RTDA logo require that students download data from the Federal Reserve Bank of St. Louis FRED website, and then use the data to answer questions about current issues in macroeconomics.
• Offers a no-fuss solution for instructors who want to make the most recent data a central part of their macroeconomics course. Real-time data analysis exercises will not only help students to understand macroeconomics better, but will enable them to see the real world relevance of their study of macroeconomics.

Up-to-Date Information

• NEW! Will Bitcoin will become the money of the future (Chapter 3)
• NEW! The effects of the Obama tax increase on bond interest rates (Chapter 6)
• REVISED! The evolution of the Fed’s communication strategy (Chapter 13)
• NEW! The movement along the MP curve when the Fed raised the federal funds target from 2004 to 2006 (Chapter 21)
• NEW! FYI box on what the word “autonomous”  means (Chapter 22)
• NEW!  Nominal GDP targeting (Chapter 23)
• NEW! Reorganized Part 3, Financial Institutions. Updates include an FYI box on the tyranny of collateral (Chapter 8), more detail on securitization and the shadow banking system (Chapter 11), and the response of financial regulation to the global financial crisis (Chapter 12).
• NEW! The Euro Crisis. Includes information on the European sovereign debt crisis (Chapter 12), monetary unions (Chapter 18), and whether the Euro will survive (Chapter 18).
• NEW! Non-Conventional Monetary Policy and the Zero Lower Bound. Includes a new section on quantitative easing and the money supply, 2007-2014 (Chapter 14) and forward guidance and the commitment to future policy actions (Chapter 15). Chapter 23 has also been significantly revised to include monetary policy at the zero lower bound, unconventional monetary policy,  and the effects of Abenomics on Japanese monetary policy in 2013.

Flexibility and Modularity

• Core chapters provide the basic analysis used throughout the book, and other chapters or sections of chapters can be used or omitted according to instructor preferences.
• The text also allows instructors to cover the most important issues in monetary theory without having to do a detailed development of the IS, MP, and AD curves in Chapters 20 and 21. Instructors who want to teach a more complete treatment of monetary theory would make use of these chapters.
• Part 6 on monetary theory can easily be taught before Part 4 of the book in order to give students a deeper understanding of the rationale for monetary policy.
• Chapter 25 on the transmission mechanisms of monetary policy can be taught at many different points in the course—either with Part 4 of the book when monetary policy is discussed or with Chapter 20 or Chapter 22 when the concept of aggregate demand is developed. It could also be taught at the end of the book as a special topic.
• The internationalization of the text through marked international sections within chapters, as well as through complete separate chapters on the foreign exchange market and the international monetary system, is comprehensive yet flexible. The international sections within chapters are self-contained and can be omitted with little loss of continuity.
• To illustrate how this book can be used for courses with varying emphases, several course outlines are suggested for a semester teaching schedule. More detailed information about how the text can be used flexibly in your course is available in the Instructor’s Manual.

• Real-time data analysis.  Problems marked with the RTDA logo require that students download data from the Federal Reserve Bank of St. Louis FRED website, and then use the data to answer questions about current issues in macroeconomics.

• Will Bitcoin will become the money of the future (Chapter 3)
• The effects of the Obama tax increase on bond interest rates (Chapter 6)
• The movement along the MP curve when the Fed raised the federal funds target from 2004 to 2006 (Chapter 21)
• FYI box on what the word “autonomous”  means (Chapter 22)
• Nominal GDP targeting (Chapter 23)
• Reorganized Part 3, Financial Institutions. Updates include an FYI box on the tyranny of collateral (Chapter 8), more detail on securitization and the shadow banking system (Chapter 11), and the response of financial regulation to the global financial crisis (Chapter 12).
• The Euro Crisis. Includes information on the European sovereign debt crisis (Chapter 12), monetary unions (Chapter 18), and whether the Euro will survive (Chapter 18).
• Non-Conventional Monetary Policy and the Zero Lower Bound. Includes a new section on quantitative easing and the money supply, 2007-2014 (Chapter 14) and forward guidance and the commitment to future policy actions (Chapter 15). Chapter 23 has also been significantly revised to include monetary policy at the zero lower bound, unconventional monetary policy,  and the effects of Abenomics on Japanese monetary policy in 2013.