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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.
- NEW! An entirely new chapter has been added to the eleventh edition--Chapter 19, “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 microeconomics 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 microeconomics, and the future of Social Security, Medicare, and Medicaid.
- 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.
- 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.
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: MICROECONOMIC FUNDAMENTALS
7. Consumer Choice: Maximizing Utility and Behavioral Economics.
Appendix C Budget Constraint and Indifference Curve Analysis.
8. Production and Costs.
Part III: PRODUCT MARKETS AND POLICIES
9. Perfect Competition.
11. Monopolistic Competition, Oligopoly, and Game Theory.
12. Government and Product Markets: Antitrust and Regulation.
Part IV: FACTOR MARKETS AND RELATED ISSUES
13. Factor Markets: With Emphasis on the Labor Market.
14. Wages, Union, and Labor.
15. The Distribution of Income and Poverty.
16. Interest, Rent, and Profit.
Part V: MARKET FAILURE, PUBLIC CHOICE, AND SPECIAL-INTEREST-GROUP POLITICS
17. Market Failure: Externalities, Public Goods, and Asymmetric Information.
18. Public Choice and Special-Interest-Group Politics.
Part VI: ECONOMICS THEORY-BUILDING AND EVERYDAY LIFE
19. Building Theories to Explain Everyday Life: From Observations to Questions to Theories to Predictions.
THE GLOBAL ECONOMY
Part VII: INTERNATIONAL ECONOMICS AND GLOBALIZATION
20. International Trade.
21. International Finance.
22. The Economic Case For and Against Government: Five Topics Considered.
23. Financial Matters: Stocks, Bonds, Futures and Options.
24. 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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