For 1-semester principles of macroeconomics courses.

An intuitive and grounded approach to economics

Macroeconomics gets students to think like economists by incorporating the latest policy, data and discussions on important global issues.

The 14th Edition emphasizes real-world applications, the development of critical-thinking skills, diagrams renowned for their pedagogy and clarity, and path-breaking technology. Hallmark features in the chapter openings and endings encourage students to think critically about a news article relating to the issue, demonstrating how thinking like an economist can bring a clearer perspective to, and deeper understanding of, today''s events.

Hallmark features of this title

• Economics in Action and Economics in the News boxes have students link models and chapter tools to the economic world around them.
• Interviews with Economists feature leading economists from diverse backgrounds who share what inspired them to pursue a career in economics.

• Worked Problems, consisting of questions, solutions and key figures, help students to learn-by-doing and actively, rather than passively, review the chapter content.
• In-text Review Quizzes reinforce major concepts and test students'' knowledge of the topics just discussed.

New and updated features of this title

• UPDATED: All chapters are updated to include the latest data on the national accounts (Ch. 4), the labor market and price indexes (Ch. 5), economic growth (Ch. 6), interest rates and loanable funds (Ch. 7), banks and the money market (Ch. 8), the exchange rate and balance of payments (Ch. 9), the short-run Phillips curve tradeoff (Ch. 12), fiscal policy (Ch. 13), and monetary policy (Ch. 14).
• NEW: 8 chapters have an analysis of news reports about the macroeconomic effects of COVID-19 and the policy responses it triggered. These include nowcasting GDP through the pandemic (Ch. 4), measuring unemployment (Ch. 5), massive bond buying by the Federal Reserve (Ch. 8), the Covid recession viewed through the lens of the AS and AD (Ch. 10), inventories in the Covid recession (Ch. 11), post-Covid inflation fears (Ch. 12), and the effects of fiscal and monetary stimulus in the Covid recession (Ch. 13 and 14).
• NEW: Other changes include an explanation of the Fed''s new operating procedures with ample reserves, a look at China''s slowing growth rate (Ch. 6), the growth of ''fintec'' in financial markets (Ch. 7, and currency manipulation (Ch. 9).