Higher Education

Macroeconomics: Private and Public Choice, 14th Edition

  • David A. Macpherson Trinity University
  • ISBN-10: 1111970629  |  ISBN-13: 9781111970628
  • 576 Pages
  • Previous Editions: 2011, 2009, 2006
  • © 2013 | Published
  • College Bookstore Wholesale Price = $234.00
  • Newer Edition Available

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About

Overview

MACROECONOMICS: PRIVATE AND PUBLIC CHOICE, 14TH EDITION reflects current economic conditions, enabling students to apply economic concepts to the world around them. The up-to-date text includes analysis and explanation of measures of economic activity in today's market. It also includes highlights of the recession of 2008-2009, and an in-depth look at the lives and contributions of notable economists. MACROECONOMICS: PRIVATE AND PUBLIC CHOICE dispels common economic myths. The text uses the "invisible hand" metaphor to explain economic theory, demonstrating how it works to stimulate the economy. The 14th edition includes a robust set of online multimedia learning tools. Tutorials, analyses and quizzes are designed to support classroom work and increase student performance. A full Aplia course, specifically created for MACROECONOMICS: PRIVATE AND PUBLIC CHOICE, 14TH EDITION is also available; visit www.aplia.com for a demonstration.

Features and Benefits

  • Application boxes to help students draw parallels between economics and pertinent topics such as supply, demand, financial bailouts, capital markets, and poverty.
  • Coverage of the recent stock market fallout, as well as its implications for investment decisions in today's world.
  • In-depth analysis of the government response to the financial crisis--discussing both the political economy and federal budget implications.
  • Section on the economic way of thinking about government, as well as updated information and data on the Great Recession and lessons learned from the Great Depression.
  • Measures economic activity, assembling important indicators like the unemployment rate and digging into its meaning and relevance.
  • Applies economic theory to current real-world issues and controversies, allowing students to apply what they learn directly to pertinent topics in the world around them.
  • Dispels common myths of economic reasoning and examines how these myths can impede a nation's economic progress.
  • Offers historical vignettes on the lives of notable economists, providing an opportunity to weave economic history into the classroom.

Table of Contents

Part I: THE ECONOMIC WAY OF THINKING.
1. The Economic Approach.
2. Some Tools of the Economist.
Part II: MARKETS AND GOVERNMENT.
3. Supply, Demand, and the Market Process.
4. Supply and Demand: Applications and Extensions.
5. Difficult Cases for the Market, and the Role of Government.
6. The Economics of Collective Decision Making.
Part III: CORE MACROECONOMICS.
7. Taking the Nation's Economic Pulse.
8. Economic Fluctuations, Unemployment, and Inflation.
9. An Introduction to Basic Macroeconomic Markets.
10. Dynamic Change, Economic Fluctuations, and the AD–AS Model.
11. Fiscal Policy: The Keynesian View and Historical Perspective.
12. Fiscal Policy: Incentives, and Secondary Effects.
13. Money and the Banking System.
14. Modern Macroeconomics and Monetary Policy.
15. Stabilization Policy, Output, and Employment.
16. Creating an Environment for Growth and Prosperity.
17. Institutions, Policies, and Cross-Country Differences in Income and Growth.
Part IV: INTERNATIONAL ECONOMICS.
18. Gaining from International Trade.
19. International Finance and the Foreign Exchange Market.
Part V: APPLYING THE BASICS: SPECIAL TOPICS IN ECONOMICS. (subject to change)
Special Topic 1 Government Spending and Taxation.
Special Topic 2 The Internet: How Is It Changing the Economy?
Special Topic 3 The Economics of Social Security.
Special Topic 4 The Stock Market: Its Function, Performance, and Potential as an Investment Opportunity.
Special Topic 5 The Crisis of 2008: Causes and Lessons for the Future.
Special Topic 6 Lessons from the Great Depression.
Special Topic 7 Lessons from the Japanese Experience.
Special Topic 8 The Federal Budget and the National Debt.
Appendix A General Business and Economics Indicators for the United States.
Appendix B Answers to Selected Critical Analysis Questions.

What's New

  • NEW! Text is streamlined to make it more accessible to students and instructors.
  • NEW! Addenda to some chapters are moved to the text website: (chapter 6) Who Produces, Who Pays, and Why it Matters and (chapter 20) Consumer Choice and Indifference Curves.
  • NEW! Material on Economics as a Career (chapter 1) is moved to the text website.
  • NEW! Material on The Keynesian Aggregate Expenditure Model (chapter 11) is moved to the text website.
  • NEW! Chapter 5 has a new section on Market Failure and Government Failure.
  • NEW! New material on Cash for Clunkers (chapter 6) shows the short-sightedness of political action.
  • NEW! Chapter 12 integrates the idea that constant policy changes generate uncertainty and undermine growth.
  • NEW! A brief discussion of the Austrian view of the business cycle.
  • NEW! Special Topic on Lessons from Japan and Canada.
  • NEW! Special Topic "Will Americans Be Better Off in the Future?"

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ISBN-10: 128526052X  | ISBN-13: 9781285260525

List Price = $324.95  | CengageBrain Price = $324.95  | College Bookstore Wholesale Price = $244.00

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  • Macroeconomics: Private and Public Choice
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ISBN-10:  1285260511  | ISBN-13:  9781285260518

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This Bundle Includes:

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    List Price = $310.95  | CengageBrain Price = $310.95  | College Bookstore Wholesale Price = $234.00
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Bundle: Text + Aplia™, 1 term Printed Access Card

ISBN-10:  1285260538  | ISBN-13:  9781285260532

List Price = $306.95  | College Bookstore Wholesale Price = $227.50

This Bundle Includes:

  • Macroeconomics: Private and Public Choice
    List Price = $310.95  | CengageBrain Price = $310.95  | College Bookstore Wholesale Price = $234.00
  • Aplia™, 1 term Printed Access Card
    List Price = $126.00  | College Bookstore Wholesale Price = $94.50


ePack: Text + CourseMate with Global Economic Crisis Resource Center, Global Economic Crisis - Community Server, Global Economic Crisis - Global Issues in Context Instant Access

ISBN-10:  1285260562 | ISBN-13:  9781285260563

List Price = $324.95  | CengageBrain Price = $324.95  | College Bookstore Wholesale Price = $244.00

This Bundle Includes:

  • Macroeconomics: Private and Public Choice
    List Price = $310.95  | CengageBrain Price = $310.95  | College Bookstore Wholesale Price = $234.00
  • CourseMate with Global Economic Crisis Resource Center, Global Economic Crisis - Community Server, Global Economic Crisis - Global Issues in Context Instant Access
    List Price = $217.00  | CengageBrain Price = $217.00  | College Bookstore Wholesale Price = $217.00


Supplements

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Instructor Supplements

Coursebook  (ISBN-10: 1133561659 | ISBN-13: 9781133561651)

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CourseMate with Global Economic Crisis Resource Center, Global Economic Crisis - Community Server, Global Economic Crisis - Global Issues in Context Instant Access  (ISBN-10: 1133494366 | ISBN-13: 9781133494362)

Cengage Learning's CourseMate brings course concepts to life with interactive learning, study, and exam preparation tools that support the printed textbook. Maximize your course success with the integrated eBook and chapter-specific learning tools that include flashcards, quizzes, videos, and more in your CourseMate. Key Features: Interactive eBook, Engagement Tracker, Learning Objectives, Tutorial Quizzes, Glossary and Flashcards, and Web Links and References.

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Aplia™, 1 term Instant Access  (ISBN-10: 1133600670 | ISBN-13: 9781133600671)

Succeed in your course with Aplia's interactive learning system--featuring practice problems with immediate feedback and tools developed specifically for MACROECONOMICS: PRIVATE AND PUBLIC CHOICE, 14th 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

Student Supplements

Coursebook  (ISBN-10: 1133561659 | ISBN-13: 9781133561651)

List Price = $64.95  | CengageBrain Price = $64.95  | College Bookstore Wholesale Price = $48.75

CourseMate with Global Economic Crisis Resource Center, Global Economic Crisis - Community Server, Global Economic Crisis - Global Issues in Context Instant Access  (ISBN-10: 1133494366 | ISBN-13: 9781133494362)

Cengage Learning's CourseMate brings course concepts to life with interactive learning, study, and exam preparation tools that support the printed textbook. Access an integrated eBook, learning tools including flashcards, quizzes, and more, all designed specifically to work with MACROECONOMICS: PRIVATE AND PUBLIC CHOICE, 14th Edition.

List Price = $217.00  | CengageBrain Price = $217.00  | College Bookstore Wholesale Price = $217.00

Cengage Learning Write Experience 2.0 Powered by MyAccess with eBook, 1 term (6 months) Instant Access  (ISBN-10: 1285092104 | ISBN-13: 9781285092102)

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Aplia™, 1 term Instant Access  (ISBN-10: 1133600670 | ISBN-13: 9781133600671)

Succeed in your course with Aplia's interactive learning system--featuring practice problems with immediate feedback and tools developed specifically for MACROECONOMICS: PRIVATE AND PUBLIC CHOICE, 14th 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

Meet the Author

Author Bio

David A. Macpherson

David A. Macpherson is the E.M. Stevens Distinguished Professor of Economics and Economics Department Chair at Trinity University. Previously, he was Director of the Pepper Institute on Aging and Public Policy and the Rod and Hope Brim Eminent Scholar of Economics at Florida State University, where he received two university-wide awards for teaching excellence. His teaching areas include principles of microeconomics, money and banking, econometrics, and labor economics. Dr. Macpherson is an applied economist whose research focuses on real estate, pensions, discrimination, industry deregulation, labor unions, and the minimum wage. He has published more than 60 articles in leading economics and real estate journals, including Review of Economic and Statistics, Journal of Labor Economics, Journal of Human Resources, Industrial and Labor Relations Review, Journal of Real Estate Economics and Finance. His research has been funded by a variety of entities including the National Science Foundation, Florida Legislature, and the National Association of Realtors. He is co-author of the undergraduate labor economics text, CONTEMPORARY LABOR ECONOMICS, 11E as well as the annual UNION MEMBERSHIP AND EARNINGS DATA BOOK: COMPLIATIONS FROM THE CURRENT POPULATION SURVEY. He is included in WHO’S WHO IN ECONOMICS, 4E which includes the 1,200 most frequently cited economists. Dr. Macpherson received his undergraduate degree and Ph.D. from Pennsylvania State University.

Author Video


View this short video of author Jim Gwartney discussing the changes to this edition.



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