Macroeconomics, 2nd Edition

The dynamic duo of Paul Krugman and Robin Wells team up to present readers with an expert resource in their textbook Macroeconomics, 2nd Edition, ISBN 9780716771616. With the hopes of closing the expanse between global economic events and the daily lives of Americans, this text provides a firm understanding of economics in motion through the transformation of intricate issues into easy-to-understand terms. This market-topping introductory text integrates a concise and appealing writing style with expanded coverage of policy as well as a myriad of newly added examples and descriptions. The organizational efforts of Paul Krugman and Robin Wells are a success within the pages of Macroeconomics, 2nd Edition through the incorporation of eight sections and 19 comprehensive chapters. Part 1 begins this book with an introductory section asking the question 'What is Economics?' The chapters within this section take a close look at first principles as well as economic models. Part 2 delves into the concepts behind 'Supply and Demand.' These pages provide coverage of such topics as the market strikes back and consumer and producer surplus. An 'Introduction to Macroeconomics' is the focus of part 3 with chapters investigating the big picture of the discipline as well as tracking the macroeconomy. Part 4 presents readers with information on 'The Economy in the Long Run.' These chapters discuss subjects including long-run economic growth as well as savings, investment spending, and the financial system. Part 5 tackles the topic of 'Short-Run Economic Fluctuations.' Concepts discussed in this section include aggregate supply and demand, income and expenditures, fiscal policy, money, banking, and the Federal Reserve System as well as monetary policy. 'The Supply-Side and the Medium Run' is the focus of part 6 with chapters discussing labor markets, unemployment, and inflation, deflation and stagflation. Part 7 presents various 'Events and Ideas' with a chapter focusing on the making of modern macroeconomics. The final section of this book is that of part 8 examining 'The Open Economy.' These concluding chapters are devoted to final comments on international trade and open-economy macroeconomics.