Exploring Macroeconomics
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Exploring Macroeconomics

Exploring Macroeconomics


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About the Book

The excitement of learning economics for the first time.  The experience of a lifetime of teaching it. The Eighth Edition of Exploring Macroeconomics captures the excitement of learning macroeconomics for the first time through a lively and encouraging narrative that connects macroeconomics to the world in a way that is familiar to students. Author Robert L. Sexton draws on over 25 years of teaching experience to capture students’ attention, focusing on core concepts and expertly weaving in examples from current events and popular culture to make even classic economic principles modern and relatable. The text sticks to the basics and applies a thoughtful learning design, segmenting its presentation into brief, visually appealing, self-contained sections that are easier for students to digest and retain compared to sprawling text.   Thoughtfully placed section quizzes, interactive summaries, and problem sets help students check their comprehension at regular intervals and develop the critical thinking skills that will allow them to "think like economists." Combined with a complete teaching and learning package, Exploring Macroeconomics is sure to help you ignite your students’ passion for the field and reveal its practical application in the world around them.

Table of Contents:
Part I: Introduction Chapter 1: The Role and Method of Economics 1.1 Economics: A Brief Introduction 1.2 Economic Behavior 1.3 Economic Theories and Models 1.4 Pitfalls to Avoid in Scientific Thinking 1.5 Positive Statements and Normative Statements Chapter 2: Economics: Eight Powerful Ideas 2.1 Idea 1: People Face Scarcity and Costly Trade-Offs 2.2 Idea 2: People Engage in Rational Decision Making and Marginal Thinking 2.3 Idea 3: People Respond Predictably to Changes in Incentives 2.4 Idea 4: Sepcialization and Trade Can Make People Better Off 2.5 Idea 5: Markets Can Improve Economic Efficiency 2.6 Idea 6: Appropriate Government Policies Can Improve Market Outcomes 2.7 Idea 7: Government Policies May Help Stablilize the Economy 2.8 Idea 8: Increasing Producitivty Leads to Economic Growth Chapter 3: Scarcity, Trade-Offs, and Production Possibilities 3.1 The Three Economic Questions Every Society Faces 3.2 The Circular Flow Model 3.3 The Production Possibilities Curve 3.4 Economic Growth and the Production Possibilities Curve Part II: Supply and Demand Chapter 4: Demand, Supply, and Market Equilibrium 4.1 Markets 4.2 Demand 4.3 Shifts in the Demand Curve 4.4 Supply 4.5 Shifts in the Supply Curve 4.6 Market Equilibrium Price and Quantity Chapter 5: Markets in Motion and Price Controls 5.1 Changes in Market Equilibrium 5.2 Price Controls Chapter 6: Elasticities 6.1 Price Elasticity of Demand 6.2 Total Revenue and the Price Elasticity of Demand 6.3 Other Types of Demand Elasticities 6.4 Price Elasticity of Supply Part III: Market Efficiency, Market Failure, and the Public System Chapter 7: Market Efficiency and Welfare 7.1 Consumer Surplus and Producer Surplus 7.2 The Welfare Effects of Taxes, Subsidies, and Price Controls Chapter 8: Market Failure 8.1 Externalities 8.2 Public Policy and the Environment 8.3 Property Rights and the Environment 8.4 Public Goods 8.5 Asymmetric Information Chapter 9: Public Finance and Public Choice 9.1 Public Finance: Government Spending and Taxation 9.2 Public Choice Part IV: Macroeconomic Foundations Chapter 10: Introduction to Macroeconomics: Unemployment, Inflation, and Economic Fluctuations 10.1 Macroeconomic Goals 10.2 Employment and Unemployment 10.3 Types of Unemployment 10.4 Reasons for Unemployment 10.5 Inflation 10.6 Economic Fluctuations Chapter 11: Measuring Economic Performance 11.1 National Income Accounting: A Standardized Way to Measure Economic Performance 11.2 Measuring Total Production 11.3 Other Measures of Total Production and Total Income 11.4 Problems in Calculating an Accurate GDP 11.5 Problems with GDP as a Measure of Economic Welfare Chapter 12: Economic Growth in the Global Economy 12.1 Economic Growth 12.2 Determinants of Economic Growth 12.3 Public Policy and Economic Growth 12.4 Population and Economic Growth Chapter 13: Financial Markets, Saving, and Investment 13.1 Financial Institutions and Intermediaries 13.2 Saving, Investment, and the Financial System 13.3 The Financial Crisis of 2008 Part V: The Macroeconomic Models Chapter 14: Aggregate Demand and Aggregate Supply 14.1 The Determinants of Aggregate Demand 14.2 The Aggregate Demand Curve 14.3 Shifts in the Aggregate Demand Curve 14.4 The Aggregate Supply Curve 14.5 Shifts in the Aggregate Supply Curve 14.6 Macroeconomic Equilibrium: The Short Run and the Long Run Chapter 15: The Aggregate Expenditure Model 15.1 The Simple Aggregate Expenditure Model 15.2 Finding Equilibrium in the Aggregate Expenditure Model 15.3 Adding Investment, Government Purchases, and Net Exports 15.4 Shifts in Aggregate Expenditure and the Multiplier 15.5 From Aggregate Expenditures to Aggregate Demand Part VI: Macroeconomic Policy Chapter 16: Fiscal Policy 16.1 Fiscal Policy 16.2 Fiscal Policy and the AD/AS Model 16.3 The Multiplier Effect 16.4 Supply-Side Effects of Tax Cuts 16.5 Possible Obstacles to Effective Fiscal Policy 16.6 Automatic Stabilizers 16.7 The National Debt Chapter 17: Money, Banking, and the Federal Reserve System 17.1 What is Money? 17.2 Measuring Money 17.3 How Banks Create Money 17.4 The Money Multiplier 17.5 The Federal Reserve System 17.6 How Does the Federal Reserve Change the Money Supply? 17.7 Bank Failures Chapter 18: Monetary Policy 18.1 Money, Interest Rates, and Aggregate Demand 18.2 Expansionary and Contractionary Policy 18.3 Money and Inflation-The Long Run 18.4 Problems in Implementing Monetary and Fiscal Policy Chapter 19: Issues in Macroeconomic Theory and Policy 19.1 The Phillips Curve 19.2 The Phillips Curve over Time 19.3 Rational Expectations 19.4 Controversies in Macroeconomic Policy Part VII: The Global Economy Chapter 20: International Trade 20.1 The Growth in World Trade 20.2 Comparative Advantage and Gains From Trade 20.3 Supply and Demand in International Trade 20.4 Tariffs, Import Quotas, and Subsidies Chapter 21: International Finance 21.1 The Balance of Payments 21.2 Exchange Rates 21.3 Equilibrium Changes in the Foreign Exchange Market 21.4 Flexible Exchange Rates

About the Author :
Robert L. Sexton is Distinguished Professor of Economics at Pepperdine University. Professor Sexton has also been a Visiting Professor at the University of California at Los Angeles in the Anderson Graduate School of Management and the Department of Economics. Professor Sexton’s research ranges across many fields of economics: economics education, labor economics, environmental economics, law and economics, and economic history. He has written over twenty textbooks and has published numerous scholarly articles, many in top economic journals such as The American Economic Review, Southern Economic Journal, Economics Letters, Journal of Urban Economics, and The Journal of Economic Education. He has also written more than 100 other articles that have appeared in books, magazines, and newspapers. Professor Sexton received the Pepperdine Professor of the Year Award in 1991, a Harriet and Charles Luckman Teaching Fellow in 1994, Tyler Professor of the Year in 1997, the Howard A. White Award for Teaching Excellence in 2011, and a Career Achievement Award from California Lutheran University in 1994.    


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Product Details
  • ISBN-13: 9781544337715
  • Publisher: Sage Publications Inc Ebooks
  • Publisher Imprint: SAGE Publications Inc
  • Language: English
  • ISBN-10: 154433771X
  • Publisher Date: 10 Dec 2018
  • Binding: Digital download and online
  • No of Pages: 688


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