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Overview

The economy is tough -- but economics doesn’t have to be! Let Roger Arnold’s MACROECONOMICS open up the world of economic analysis for your students. With more detailed coverage of the financial and economic crisis than any other principles text on the market, fun and innovative pedagogy, easy customization, and fully integrated digital and course management options, MACROECONOMICS is the perfect solution for any classroom. With intriguing pop culture examples, the text bolsters student interest by illustrating the unexpected places Macroeconomics occurs, and how economic forces link events to our lives and are part of your student’s world 24/7. Building on the Video Office Hours lectures developed by Roger Arnold for the Tenth edition, the Eleventh edition features two entirely new video assets – Video Questions and Problems and Working with Diagrams. Video Questions and Problems videos walk the student through a worked problem, similar to those found at the end of each chapter, providing an ideal study tool for reference as students work through assigned problems. Working with Diagrams videos demonstrate key concepts in short (averaging 3-5 minutes) video pieces that students can play and replay to see how the graphs and other diagrams are built. Ideal for self-study or for online courses, the complete video assets available with MACROECONOMICS provide even greater flexibility for instructors. The Eleventh Edition is integrated with powerful resources, such as Aplia, CengageNOW, and Cengage’s CourseMate for Macroeconomics, which provide unsurpassed planning and management tools, like homework that is automatically assigned, graded, and recorded online, or tracking of students’ time spent with online resources. With new content reflecting a changing economy and new resources addressing the needs of a changing classroom, MACROECONOMICS, 11e is an ideal text for principles courses.

Roger A. Arnold, California State University, San Marcos

Dr. Roger A. Arnold is Professor of Economics at California State University San Marcos, where his fields of specialization include general microeconomic theory and monetary theory. A widely respected authority on economic issues, Dr. Arnold is a regularly featured expert on talk radio discussing the state of the economy. He is also a proven author who has published numerous academic articles, hundreds of newspaper columns, as well as the popular ECONOMICS: NEW WAYS OF THINKING and principles of economics supplemental text, HOW TO THINK LIKE AN ECONOMIST. Dr. Arnold earned a B.S. in Economics from the University of Birmingham in England and received his M.A. and his Ph.D. degrees from Virginia Tech.
  • NEW! An entirely new chapter has been added to the eleventh edition--Chapter 21, “Building Theories to Explain Everyday Life: From Observations to Questions to Theories to Predictions.” This chapter is designed to demonstrate with interesting, everyday examples how economists build and test theories. Providing invaluable insight into “how economists think” while relating concepts to ideas students can easily reference in their own lives, this chapter is a unique perspective in the macroeconomics curriculum.
  • NEW! Video tutorials – Video Questions and Problems! New to the Eleventh edition are these concise video tutorials prepared by author Roger Arnold. Video Questions and Problems tutorials take a problem from the Video Questions and Problems section at the end of the chapters, and demonstrate how that problem is solved, step by step. Students can play and replay the tutorials as they work through homework assignments or prepare for quizzes and tests, almost as though they had an instructor at their sides at all times. Ideal for homework and study outside the classroom or distance learning, these tutorials give students extra instructional help whenever and wherever it’s most useful.
  • NEW! Video tutorials – Working with Diagrams. New to the Eleventh edition are these concise video tutorials prepared by author Roger Arnold. Working with Diagrams tutorials move carefully through key graphs and diagrams in the chapter to demonstrate, step by step, how the graphs are built, and what each movement means. Students can play and replay the tutorials as they work through homework or prepare for quizzes and tests, almost as though they had an instructor at their sides at all times. Ideal for homework and study outside the classroom or distance learning, these tutorials give students extra instructional help whenever or wherever it’s most useful.
  • NEW! Thoroughly updated content throughout the chapters. The eleventh edition has been completely updated with new applications, data, and details on the financial and economic crisis. There are many new Economics 24/7 features including Weight Loss, the Price of Food and the Law of Demand; Information, Culture, and Unemployment; Greece, Debt, Drachmas and Euros; Bubbles and Expectations, to name just a few. There are new applications on Speculators, Price Variability, and Patterns and Salsa, Chips, and Beer in the applications of supply and demand chapter. The eleventh edition also includes new sections on what seems counterintuitive in macroeconomics, and the future of Social Security, Medicare, and Medicaid. The chapter on monetary policy has been substantially revised to reflect changes such as Patterns of Sustainable Specialization and Trade (PSST) and targeting of nominal GDP.
  • Virtually Endless Customization Choices: Chapters can be rearranged, online chapters can be customized in print, and instructors can add any topic, including their own research and notes, or specialized topics pulled from the Cengage Economics Issues database. Aplia customization is fully integrated, giving students hands-on application opportunities without adding to instructors’ workloads.
  • Chapter 18 on the financial crisis of 2007-2009: Arnold’s Macroeconomics, 11e, is the only principles of macroeconomics text currently on the market that focuses an entire chapter on the financial crisis. Covering all aspects of the crisis from its historical roots and various factors that contributed to the breakdown to policy responses from the government, this chapter brings together the context and direction that instructors and students are asking for in economic analysis of the recent crisis.
  • Video Office Hours: These videos feature Roger Arnold as he walks students through key concepts and graphs in each chapter. Using innovative video and whiteboard technology, the author provides both short concept pieces and longer lectures for each chapter, talking through the concepts just as he would in class and displaying on the whiteboard lecture points and demonstrating graphs. Students can play and replay the lectures as often as needed to review concepts.
  • Office Hours: This feature emulates the kinds of questions students bring to instructors after class. Office Hours explores key concepts such as how the money supply works; the purpose of the PPF; whether price ceilings are really good or bad for consumers; and the purpose of the AD/AS framework.
  • Economics 24/7: Illustrating the practical relevance of key concepts, this feature explores anything that can be explained through economic analysis. For example: Why do people specialize and trade? Will a tax on soda help reduce obesity? Why might states ban real estate commission rebates? Which is better, a tax rebate or a tax bonus? Economics 24/7 helps students learn to look for economic forces at work--and understand the principles behind them.
  • Aplia: Available bundled with the text or as a digital solution, Aplia is fully integrated with the eleventh edition. The comprehensive online, interactive problem sets, analyses, tutorials, experiments, and critical-thinking exercises give students hands-on application without adding to instructors’ workload. Based on discovery learning, Aplia requires students to take an active role in the learning process--helping them improve their economic understanding and ability to relate to the economic concepts presented. Instructors can assign homework that is automatically graded and recorded.
AN INTRODUCTION TO ECONOMICS
Part I: ECONOMICS: THE SCIENCE OF SCARCITY
1. What Economics Is About.
Appendix A Working with Diagrams.
Appendix B Should You Major in Economics?
2. Production Possibilities Frontier Framework.
3. Supply and Demand: Theory.
4. Prices: Free, Controlled, and Relative.
5. Supply, Demand, and Price: Applications.
MACROECONOMICS
Part II: MACROECONOMIC FUNDAMENTALS
6. Macroeconomic Measurements, Part I: Prices and Unemployment.
7. Macroeconomic Measurements, Part II: GDP and Real GDP.
Part III: MACROECONOMIC STABILITY, INSTABILITY, AND FISCAL POLICY
8. Aggregate Demand and Aggregate Supply.
9. Classical Macroeconomics and the Self-Regulating Economy.
10. Keynesian Macroeconomics and Economic Instability: A Critique of the Self-Regulating Economy.
11. Fiscal Policy and the Federal Budget.
Part IV: MONEY, THE ECONOMY, AND MONETARY POLICY
12. Money, Banking, and the Financial System.
13. The Federal Reserve System.
Appendix C The Market for Reserves (or the Federal Funds Market)
14. Money and the Economy.
15. Monetary Policy.
Appendix D Bond Prices and the Interest Rate
Part V: EXPECTATIONS AND GROWTH
16. Expectations Theory and the Economy.
17. Economic Growth: Resources, Technology, Ideas, and Institutions.
Part VI: THE FINANCIAL CRISIS OF 2007-2009
18. The Financial Crisis of 2007-2009.
Part VII: GOVERNMENT AND THE ECONOMY.
19. Debates in Macroeconomics Over the Role and Effects of Government.
Part VIII: PUBLIC CHOICE AND SPECIAL-INTEREST-GROUP POLITICS.
20. Public Choice and Special-Interest-Group Politics.
Part IX: ECONOMICS THEORY-BUILDING AND EVERYDAY LIFE.
21. Building Theories to Explain Everyday Life: From Observations to Questions to Theories to Predictions.
THE GLOBAL ECONOMY.
Part X: INTERNATIONAL ECONOMICS AND GLOBALIZATION.
22. International Trade.
23. International Finance.
24. Globalization and International Impacts on the Economy.
WEB CHAPTERS.
25. The Economic Case For and Against Government: Five Topics Considered.
26. Financial Matters: Stocks, Bonds, Futures and Options.
27. Agriculture: Problems, Policies, and Unintended Effects.
MindTap
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This Cengage solution can be seamlessly integrated into most Learning Management Systems (Blackboard, Brightspace by D2L, Canvas, Moodle, and more) but does require a different ISBN for access codes. Please work with your Cengage Learning Consultant to ensure the proper course set up and ordering information. For additional information, please visit the LMS Integration site.

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Aplia is an online learning solution that increases student engagement with automatically graded assignments and detailed explanations.

This Cengage solution can be seamlessly integrated into most Learning Management Systems (Blackboard, Brightspace by D2L, Canvas, Moodle, and more) but does require a different ISBN for access codes. Please work with your Cengage Learning Consultant to ensure the proper course set up and ordering information. For additional information, please visit the LMS Integration site.

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CengageNOWv2 combines the way students use textbooks and online resources to learn, study and complete homework, allowing them to achieve ultimate success in this course in a digital world.

This Cengage solution can be seamlessly integrated into most Learning Management Systems (Blackboard, Brightspace by D2L, Canvas, Moodle, and more) but does require a different ISBN for access codes. Please work with your Cengage Learning Consultant to ensure the proper course set up and ordering information. For additional information, please visit the LMS Integration site.

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FOR INSTRUCTORS

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ISBN: 9781305493193
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