Thoroughly updated references and trusted content from a renowned author keeps the text relevant
· Distinguished authorship. Olivier Blanchard is one of Pearson’s most notable economics authors and brings his years of experience and research of macroeconomic issues, including his time as the chief economist at the International Monetary Fund, to the text.
· Comprehensive coverage of current macroeconomic events is integrated into every chapter of the book. Notable updates include:
o NEW - Chapter 13 “The Challenges of Growth” discusses the relationship between growth and inequality, the challenges of climate change, and whether the introduction of robots will lead to mass unemployment.
o REVISED - Chapter 8 “The Phillips Curve, the Natural Rate of Unemployment, and Inflation” looks at the Phillips curve as it relates to inflation and unemployment (vs. a change between the two).
o REVISED - Chapter 9 “Putting All Markets Together: From the Short to the Medium Run” examines how changes in the Phillips curve relation have led to changes in monetary policy.
o NEW - A new appendix in Chapter 1 titled “What Do Macroeconomists Do?” gives students a sense of what careers they can pursue if they were to specialize in macroeconomics.
UPDATED - Figures and tables showcase the latest data available, bringing currency into your classroom.
Student-focused features facilitate learning
NEW and UPDATED - Focus boxes discuss particular macroeconomic events or facts, showing students how they can use what they’ve learned to get an understanding of economics in the real world. Notable updates include:
o NEW - The Denomination of Euro Banknotes: Between the Problem of Small Change and the Curse of Cash (chapter 4)
o NEW - Will Bitcoins Replace Dollars? (chapter 4)
o NEW - Will Japan Finally Overcome the Liquidity Trap? (chapter 4)
o NEW - The European Sovereign Debt Crisis with a Special Focus on Greece during 2010–2013 (chapter 5)
o UPDATED - From Henry Ford to Jeff Bezos (chapter 7)
o NEW - Will Robot and AI Mean Job Destruction? (chapter 13)
o UPDATED - What Lies Behind Chinese Growth? (chapter 12)
o UPDATED - Uncertainty and Fluctuations (chapter 16)
o NEW - Deficits and the Crowding Out of Private Investment: France During World War I (chapter 22)
Margin notes create a dialogue with the reader, making the more difficult passages easier to comprehend, and giving students a deeper understanding of the concepts and the results derived along the way.
Short appendixes to some chapters expand on points made within the chapter for students who want to further explore macroeconomics.
Further Readings sections direct students to alternative sources of macroeconomic information.
End-of-chapter sections, consisting of a chapter summary, list of key terms, exercises, and list of symbols, ensure the material in the chapter has been digested.
A flexible organization lets instructors tailor the material to fit how they teach their course
Short, flexible chapters provide plenty of opportunity for alternative course organization. A flowchart also makes it easy to see how the chapters are organized and fit within the book’s overall structure.
Material is organized around 2 parts: the core (chapters 3-13), which focus on the short-, medium-, and long-run markets; and a set of 2 major extensions (chapters 14-20), which provide more detailed examination of the issues at hand. An intro to macroeconomics precedes the core (chapters 1-2), while the extensions are followed by a review of the role of policy (chapters 21-23).
MyLab™ Economics is not included. Students, if Pearson MyLab Economics is a recommended/mandatory component of the course, please ask your instructor for the correct ISBN. Pearson MyLab Economics should only be purchased when required by an instructor. Instructors, contact your Pearson representative for more information.
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