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Today's economy may be tough, but economics doesn't have to be. Let Roger Arnold's MACROECONOMICS, 12E 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, this inviting book offers innovative and engaging learning features, easy customization, and fully integrated digital and course management options. The author weaves memorable examples from pop culture throughout this edition and bolsters student interest by illustrating the unexpected places macroeconomics occur. Students see how economic forces link to every day events and form an important part of life 24/7. This edition offers complete video assets ideal for online courses, self-study and ultimate teaching flexibility. "Video Office Hours" digital lectures walk students through worked problems, while brief "Working with Diagrams" videos demonstrate key concepts in graphing that students can play and replay. A new Adaptive Test Prep Tools available on MindTap™ enables students to quickly assess their personal economic understanding. Powerful digital resources, including Aplia™ and MindTap™, provide unsurpassed planning and course management tools. These resources work with the book's latest content to reflect today's changing economy and equip students with a thorough understanding of contemporary macroeconomics.
- ADAPTIVE TEST PREP HELPS STUDENTS PREPARE FOR TEST SUCCESS. The Adaptive Test Prep on MindTap™ enables students to take multiple tests across chapters, then gauge their understanding using their personalized Adaptive Study Plan before taking an exam.
- NEW PROGRESSION GRAPHS. Progression Graphs are a new digital resource in the MindTap eReader that decompose an economic concept into finite steps, then allow students to walk through these in a graph at their own pace.
- FRESH EMPHASIS ON THE LATEST SOCIAL MEDIA AND ITS IMPACT IN THE ECONOMY. This edition uses the Economics 24/7 feature to showcase detailed discussions on social media and its economic influences as it relates to chapter topics.
- WELL BALANCED COVERAGE OF ECONOMIC FAILURE OF 2008 ANALYZES MARKET AND GOVERNMENT FAILURE. While many books in the market examine market failure, this edition offers a complete, consistent and balanced discussion of this important recent historical event, examining both market failure and government reaction and mistakes.
- DISCUSSION ENCOURAGES A DEEPER RELATIONSHIP BETWEEN ECONOMICS AND EVERY DAY LIFE. New, relevant topics, such money and happiness and gold standard as money policy, keep the reader interest and demonstrate the application of what students are learning.
- VIRTUALLY ENDLESS CUSTOMIZATION CHOICES OFFER ULTIMATE TEACHING FLEXIBILITY. Chapters can be rearranged, online chapters can be customized in print, and you have the option to add any topic, including your own research and notes or specialized topics drawn from the Cengage Economics Issues database. Aplia's™ customization is fully integrated, giving your students hands-on application opportunities without adding to your workload.
- ONLY BOOK THAT DEVOTES ENTIRE CHAPTER TO RECENT FINANCIAL CRISIS. Chapter 18 highlights the financial crisis of 2007-2009 and is the only book currently available that does this. The author covers all aspects of the crisis from its historical roots and the various factors that contributed to the breakdown to policy responses from the government. This unique chapter brings together the context and direction that today's instructors and students have requested for a thorough economic analysis of the recent crisis.
- VIDEO OFFICE HOURS FROM AUTHOR WALK STUDENTS THROUGH KEY CONCEPTS AND GRAPHS FOR EACH CHAPTER. Using innovative video and whiteboard technology, the author provides both short digital concept pieces and longer digital lectures for each chapter. He clearly presents key macroeconomic concepts just as he does in his own classes, using a whiteboard for lecture points and demonstrating graphs. Students can play and replay the lectures as often as needed to review concepts.
- ECONOMICS 24/7 FEATURE ILLUSTRATES THE PRACTICAL RELEVANCE OF KEY CONCEPTS. This helpful feature explores numerous timely issues that can be explained through economic analysis. For example, students examine why people specialize and trade, whether or not a tax on soda will help reduce obesity, why states may ban real estate commission rebates and whether a tax rebate or tax bonus is better. Economics 24/7 teaches readers to look for economic forces at work--and understand the principles behind those forces.
- LEADING APLIA™ DIGITAL MANAGEMENT SYSTEM ENCOURAGES INTERACTIVE LEARNING. Aplia™ offers comprehensive interactive economic problem sets, analyses, tutorials, experiments and critical thinking exercises that require students to take an active role in the learning process. Based on discovery learning, the system helps students improve their economic understanding without creating extra work for you, the instructor. The system automatically grades and records homework and works with any learning management system.
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.
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.
25. The Economic Case For and Against Government: Five Topics Considered.
26. Stocks, Bonds, Futures, and Options.
27. Agriculture: Problems, Policies, and Unintended Effects.
Cengage provides a range of supplements that are updated in coordination with the main title selection. For more information about these supplements, contact your Learning Consultant.
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