Principles of Macroeconomics

Key Features

• Over 45 hyperlinked videos, specifically chosen to capture students’ interest, counter the perception of economics as the “dismal science,” and reveal the deeper meanings of economic principles in memorable ways
• The integrating theme for this volume is the model of aggregate demand and aggregate supply. The model encourages learners to consider both short-run and long-run concepts in order to address a variety of policy issues and debates more efficiently
• Every chapter begins with a brief Start Up scenario, a timely, real-world attention-getter that often puts students into a decision-making role. One example includes: “What’s the best strategy for becoming a millionaire” (Chapter 11)
• Seamlessly incorporates the lessons learned so far from the COVID-19 pandemic and the related recession
• Relies heavily on real-world data to support the models presented, and not just where routinely expected (GDP, unemployment, inflation, etc.). For instance, the aggregate demand and aggregate supply chapter illustrates the remarkable correlation between consumer confidence and spending on durable goods over a 60-year time horizon (Figure 8.3)
• Supportive learning features include:
• Start Up features are attention-getting real-world chapter-openers that vividly demonstrate the link between theory and reality, and are revisited throughout the chapter
• Learning Objectives lead off every main section
• Heads Up! notes warn of common errors and explain how to avoid making them
• Key Takeaways in each section summarize content and link back to that section’s  Learning Objectives
• Key Terms are boldfaced and defined in the margins
• Pop! Goes the Econ features provide links to contemporary examples that connect with students. Engaging examples include “Dr. Evil Holds the World for Ransom” (Section 6.4), “Bart Simpson Starts a Bank Run” (Section 10.3), and “Fiscal Policy in South Park” (Section 13.3)
• Try It! problems are organized by main section. These problems encourage active learning and help students confirm they understand the material just covered. Each Try It! problem is linked to a similar end-of-chapter exercise
• Case in Point scenarios are applications illustrating the influence of economic forces on real issues and real people such as “Good News and Bad in COVID-19 Unemployment Figures” (Section 7.2), “Is Bitcoin Money?” (Section 10.2),  or “Hold on Tight: Money Demand in the Coronavirus Crisis” (Section 11.4). Each Case in Point application is linked to an end-of-chapter problem
• Summary pulls together the information presented in the chapter to enhance recall and facilitate test preparation
• End-of-Chapter Concept Problems and Numerical Problems help students check understanding, promote discussion, and prompt learners to analyze and think critically about material just presented