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Macroeconomics: Principles and Policy, 11th Edition

  • William J. Baumol New York University
  • Alan S. Blinder Princeton University
  • ISBN-10: 0324586213  |  ISBN-13: 9780324586213
  • 448 Pages
  • Previous Editions: 2008, 2006, 2005
  • © 2009 | Published
  • List Price = $ 275.95
  • For quantity discounts, Contact your Representative
  • For single copy purchases, visit CengageBrain.com

About

Overview

This text is well-known for using the Keynesian model in the teaching of economics; yet, in recent editions, the authors have expanded coverage of the growth model considerably to achieve more balanced coverage. The text uses the aggregate supply/ aggregate demand model as a fundamental tool for learning macroeconomics. It achieves the right level of rigor and detail, presenting complicated concepts in a relatively straightforward manner and using timely economic data. Using puzzles, issues, and well-developed examples, the authors provide a good balance of theory to application allowing you to relate the materials to your everyday life.

Features and Benefits

  • Each chapter opens with a real-life economic "puzzle" or issue to launch the material covered in the chapter and to bring economics into students' everyday lives. This chapter-opening economic problem is revisited within the body of the chapter to illustrate how it can be addressed with the theoretical tools and concepts being presented.
  • Well-known for being one of the most policy-oriented books on the market, this text includes special "Policy Debate" boxes to enliven the chapters as well as open the way for classroom discussion.
  • The "Ideas For Beyond the Final Exam" feature is introduced in Chapter 1, then integrated throughout the text as a means to reinforce important concepts for students.
  • Each chapter opens with a real-life puzzle or issue to launch the material covered in the chapter and bring economics into students' everyday lives.
  • "Policy Debate" current event boxes enliven the chapters and open the way for classroom discussion.
  • Each chapter ends with a summary, key concepts and terms, and questions and problems for review to help students complete homework and prepare for exams.

Table of Contents

Part I: GETTING ACQUAINTED WITH ECONOMICS.
1. What Is Economics?
2. The Economy: Myth and Reality.
3. The Fundamental Economic Problem: Scarcity and Choice.
4. Supply and Demand: An Initial Look
Part II: THE MACROECONOMY: AGGREGATE SUPPLY AND DEMAND.
5. An Introduction to Macroeconomics.
6 The Goals of Macroeconomic Policy.
7. Economic Growth: Theory and Policy.
8. Aggregate Demand and the Powerful Consumer.
9. Demand-Side Equilibrium: Unemployment or Inflation?
10. Bringing in the Supply Side: Unemployment and Inflation?
Part III: FISCAL AND MONETARY POLICY.
11. Managing Aggregate Demand: Fiscal Policy.
12. Money and the Banking System.
13. Managing Aggregate Demand: Monetary Policy.
14. The Debate Over Monetary and Fiscal Policy.
15. Fiscal Policy, Monetary Policy, and Growth.
16. The Trade-off between Inflation and Unemployment.
Part IV: THE UNITED STATES IN THE WORLD ECONOMY.
17. International Trade and Comparative Advantage.
18. The International Monetary System: Order or Disorder?
19. Exchange Rates and the Macroeconomy.

What's New

  • There is expanded coverage on developing economies (China and India), as well as coverage on outsourcing.
  • The book provides analysis of human capital's impact on economic growth, including a discussion on minimum wage and household protection.
  • There is more developed discussion of consumer choice, including expanded coverage on budget limitations and constraints when discussing consumer theory.
  • The authors include new material on banking, energy and the history of economics, as well as new analysis of the mortgage crisis of 2007.
  • This is the only principles book available for fall 2008 that has complete, 2007 year-end economic data.
  • Available bundled with the text or as a digital solution, Aplia is fully integrated with the 2007 Update. 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.

Supplements

All supplements have been updated in coordination with the main title. Select the main title's "About" tab, then select "What's New" for updates specific to title's edition.

For more information about these supplements, or to obtain them, contact your Learning Consultant.

Instructor Supplements

Aplia Instant Access  (ISBN-10: 0324784961 | ISBN-13: 9780324784961)

List Price = $126.00  | College Bookstore Wholesale Price = $94.50

EconCentral Instant Access Code  (ISBN-10: 0324782837 | ISBN-13: 9780324782837)

Ready to help students apply chapter concepts to the real world? Multiple resources for learning and reinforcing principles concepts are now available in one place! EconCentral is your one-stop shop for learning tools and activities that help students succeed. EconCentral equips learners with a portal to a wealth of resources that help them both study and apply economic concepts. As they read and study the chapters, students can access video tutorials, review with flash cards and a graphing tool as well as check their understanding of the chapter with interactive quizzing. All the study and application resources in EconCentral are organized by chapter to help your students get the most from our text.

List Price = $29.00  | CengageBrain Price = $29.00  | College Bookstore Wholesale Price = $29.00

Economics for Life: 101 Lessons You Can Use Every Day!  (ISBN-10: 0538757884 | ISBN-13: 9780538757881)

ECONOMICS FOR LIFE 3e is a book about real-world applications for economics. In addition to applications, the text contains critiques of common economic fallacies, paradoxical economic results, and solutions to economic mysteries that are sure to interest students. Tied through its Appendices to all South-Western principles texts, Economics for Life helps students use economic concepts to better understand the world around them. The book serves as a valuable resource for delivering a more applications-based Principles (or Economics 101) course and can be bundled at no additional charge.

List Price = $29.95  | CengageBrain Price = $29.95  | College Bookstore Wholesale Price = $22.50

Student Supplements

Aplia Instant Access  (ISBN-10: 0324784961 | ISBN-13: 9780324784961)

Aplia™ is an online interactive learning solution that helps you improve comprehension – and your grade – by integrating a variety of mediums and tools such as video, tutorials, practice tests and interactive e-book. Founded by a professor to enhance his own courses, Aplia provides automatically graded assignments with detailed, immediate feedback on every question, and innovative teaching materials. More than 1,000,000 students like you have used Aplia at over 1800 institutions. Aplia should be purchased only when assigned by your instructor as part of your course.

List Price = $126.00  | College Bookstore Wholesale Price = $94.50

Aplia™ Instant Access  (ISBN-10: 1111926573 | ISBN-13: 9781111926571)

Succeed in your course with Aplia's interactive learning system--featuring practice problems with immediate feedback and tools developed specifically for MACROECONOMICS: PRINCIPLES AND POLICY, 11th Edition. Aplia has already helped more than a million students succeed in college classes.

List Price = $126.00  | CengageBrain Price = $126.00  | College Bookstore Wholesale Price = $126.00

EconCentral Instant Access Code  (ISBN-10: 0324782837 | ISBN-13: 9780324782837)

Ready to help students apply chapter concepts to the real world? Multiple resources for learning and reinforcing principles concepts are now available in one place! EconCentral is your one-stop shop for learning tools and activities that help students succeed. EconCentral equips learners with a portal to a wealth of resources that help them both study and apply economic concepts. As they read and study the chapters, students can access video tutorials, review with flash cards and a graphing tool as well as check their understanding of the chapter with interactive quizzing. All the study and application resources in EconCentral are organized by chapter to help your students get the most from our text.

List Price = $29.00  | CengageBrain Price = $29.00  | College Bookstore Wholesale Price = $29.00

Economics for Life: 101 Lessons You Can Use Every Day!  (ISBN-10: 0538757884 | ISBN-13: 9780538757881)

ECONOMICS FOR LIFE 3e is a book about real-world applications for economics. In addition to applications, the text contains critiques of common economic fallacies, paradoxical economic results, and solutions to economic mysteries that are sure to interest students. Tied through its Appendices to all South-Western principles texts, Economics for Life helps students use economic concepts to better understand the world around them. The book serves as a valuable resource for delivering a more applications-based Principles (or Economics 101) course and can be bundled at no additional charge.

List Price = $29.95  | CengageBrain Price = $29.95  | College Bookstore Wholesale Price = $22.50

Meet the Author

Author Bio

William J. Baumol

William J. Baumol received his B.S.S. at the College of the City of New York and his Ph.D. at the University of London. He is professor of economics at New York University and senior research economist and professor emeritus at Princeton University. He is a frequent management consultant to major firms in a wide variety of industries in the United States and other countries as well as to a number of governmental agencies. He has been president of the American Economic Association, and three other professional societies. He is an elected member of the National Academy of Sciences, created by the U.S. Congress, and a member of the American Philosophical Society, founded by Benjamin Franklin. Dr. Baumol is the author of more than 35 books as well as hundreds of journal and newspaper articles that have been translated into more than a dozen languages.

Alan S. Blinder

Alan S. Blinder earned his B.A. at Princeton University, his M.A. at the London School of Economics and Ph.D. at MIT. He teaches at Princeton University and is the author of the best seller, After the Music Stopped, about the financial crisis and its aftermath. Dr. Blinder served on President Clinton's first Council of Economic Advisers and then as vice chairman of the Federal Reserve Board, thereby playing a role in formulating both the fiscal and monetary policies of the 1990s. Dr. Blinder, now a regular columnist for THE WALL STREET JOURNAL, has written newspaper and magazine columns on economic policy for more than thirty years. He is a past Vice President and a Distinguished Fellow of the American Economic Association.