Macroeconomics: Principles and Policy, 12th Edition

  • William J. Baumol New York University
  • Alan S. Blinder Princeton University
  • ISBN-10: 0538453656
  • ISBN-13: 9780538453653
  • 472 Pages Paperback 
  • Previous Editions: 2011, 2009, 2008
  • © 2012 | Published
  • College Bookstore Wholesale Price = $187.25 
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About The Solution

Overview

MACROECONOMICS: PRINCIPLES AND POLICY, Twelfth Edition, takes a policy-based approach to the teaching of introductory macroeconomics. Written by two of the most respected economists in the world, this text is also one of the most current texts on the market that includes data through the spring of 2011. The text includes significant updates based on the current economic crisis, providing the right level of rigor and detail.


Additional Product Information

Features/Benefits

  • The comprehensive online, interactive problem sets, analyses, tutorials, experiments, and critical-thinking exercises give students hands-on application without adding to instructors’ workload. Aplia requires students to take an active role in the learning process, helping them improve their economic understanding and relate to the economic concepts presented. Instructors can assign homework that is automatically graded and recorded.
  • Each chapter opens with a real-life economic puzzle or issue to launch the material covered in the chapter, bringing 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.
  • 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, and then integrated throughout the text to reinforce important concepts for students.
  • Each chapter ends with a summary; key concepts and terms; and questions and problems for review to help student’s complete homework and prepare for exams.

What's New

  • More material on health care costs and the health care reform bill have been added.
  • The traditional one-interest-rate model is replaced with a more complex model that includes two interest rates. One would be the riskless rate (such as on T-bills); the other would be a risky, private-sector rate. Doing so requires teaching students about the effect of perceived default risk on interest rates (“risk premiums”).
  • The new edition is the only principles book to reflect 2010 year-end data.
  • New boxes are updated to reflect the changes in the economic environment that have occurred since the last edition.

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Bundle: Text + CengageNOW with eBook on Blackboard® Printed Access Card
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  • Macroeconomics: Principles and Policy
    List Price = $252.95  | CengageBrain Price = $201.99  | College Bookstore Wholesale Price = $187.25
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This Bundle Includes:

  • Macroeconomics: Principles and Policy
    List Price = $252.95  | CengageBrain Price = $201.99  | College Bookstore Wholesale Price = $187.25
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This Bundle Includes:

  • Macroeconomics: Principles and Policy
    List Price = $252.95  | CengageBrain Price = $201.99  | College Bookstore Wholesale Price = $187.25
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Printed Text + Economics CourseMate with eBook Instant Access Code
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  • Macroeconomics: Principles and Policy
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  • Economics CourseMate Instant Access
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Printed Text + CengageNOW with eBook Instant Access Code
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This Bundle Includes:

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  • CengageNOW with eBook Instant Access Code
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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 Monetary Policy: Conventional and Unconventional.
14 The Financial Crisis and the Great Recession.
15 The Debate over Monetary and Fiscal Policy.
16 Budget Deficits in the Short and Long Run.
17 The Trade-Off between Inflation and Unemployment.
Part IV THE UNITED STATES IN THE WORLD ECONOMY.
18 International Trade and Comparative Advantage.
19 The International Monetary System: Order or Disorder?
20 Exchange Rates and the Macroeconomy.

Supplements

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Aplia Instant Access  (ISBN-10: 1111669279 | ISBN-13: 9781111669270)

Aplia saves instructors valuable time while giving students an easy way to stay on top of coursework with regularly scheduled assignments. These assignments have been developed for a range of textbooks and are easily customized for individual teaching schedules. Currently, Aplia supports college-level courses and has been used by more than 1 million students at more than 1,300 institutions. Aplia’s economics students use interactive chapter assignments, tutorials, news analyses, and experiments to make economics relevant and engaging. Students receive immediate, detailed explanations for every answer. Math and graphing tutorials help students overcome deficiencies in these crucial areas. Economics articles from top news sources challenge students to connect current events to course concepts.

List Price = $115.00  | CengageBrain Price = $115.00  | College Bookstore Wholesale Price = $115.00


Economics CourseMate Instant Access  (ISBN-10: 1111946248 | ISBN-13: 9781111946241)

Cengage Learning’s Economics CourseMate brings course concepts to life with interactive learning, study, and exam preparation tools that support the printed textbook. Included with CourseMate is the Global Economic Watch. This groundbreaking resource stimulates discussion and understanding of the global downturn with easy-to-integrate teaching solutions. It includes a content-rich blog, real-time database with hundreds of relevant and vetted articles, videos and podcasts, a timeline, and overview of events leading to today’s global economic crisis.

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Tomlinson Learning Path Video Instant Access Code  (ISBN-10: 1133104169 | ISBN-13: 9781133104162)

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Aplia Integrated Textbook Solution (Bookstore Purchase Access)  (ISBN-10: 0324420978 | ISBN-13: 9780324420975)

The Aplia Integrated Text Solution box contains your mandatory Aplia access code granting you access to the program and full online version of the class text. This option DOES NOT include the required reader (Current and Classic Readings for Microeconomic Literacy) or textbook (Mankiw's, Principles of Microeconomics, Fourth Edition. You MUST purchase these separately.

List Price = $140.95  | College Bookstore Wholesale Price = $103.75


Student Supplements

Student Supplements

All supplements have been updated in coordination with the main title. Select the main title’s "About the Solution" 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.

Aplia Instant Access  (ISBN-10: 1111669279 | ISBN-13: 9781111669270)

Aplia provides students with an easy way to stay on top of coursework with regularly scheduled assignments and is used by more than 1 million students at more than 1,300 institutions. Aplia’s economics students use interactive chapter assignments, tutorials, news analyses, and experiments to make economics relevant and engaging. Students receive immediate, detailed explanations for every answer. Math and graphing tutorials help students overcome deficiencies in these crucial areas. Economics articles from top news sources challenge students to connect current events to course concepts.

List Price = $115.00  | CengageBrain Price = $115.00  | College Bookstore Wholesale Price = $115.00


Economics CourseMate Instant Access  (ISBN-10: 1111946248 | ISBN-13: 9781111946241)

Cengage Learning’s Economics CourseMate brings course concepts to life with interactive learning, study, and exam preparation tools that support the printed textbook. Included with CourseMate is the Global Economic Watch. This groundbreaking resource stimulates discussion and understanding of the global downturn with easy-to-integrate teaching solutions. It includes a content-rich blog, real-time database with hundreds of relevant and vetted articles, videos and podcasts, a timeline, and overview of events leading to today’s global economic crisis.

List Price = $139.00  | CengageBrain Price = $139.00  | College Bookstore Wholesale Price = $139.00


Study Guide  (ISBN-10: 111196999X | ISBN-13: 9781111969998)

The study guide assists students in understanding the text’s main concepts. It includes learning objectives; lists of important concepts and terms for each chapter; quizzes that help students test their understanding and comprehension of concepts; multiple-choice tests for self-understanding; lists of supplementary readings and study questions for each chapter; “Economics in Action” sections that use current news articles to illustrate economics concepts; “Economics Online” exercises that outline useful Internet sources for economic data and interaction. All study guide content has been thoroughly updated for the new edition of the text.

List Price = $58.95  | CengageBrain Price = $58.49  | College Bookstore Wholesale Price = $43.50


Tomlinson Learning Path Video Instant Access Code  (ISBN-10: 1133104169 | ISBN-13: 9781133104162)

List Price = $96.25  | CengageBrain Price = $96.25  | College Bookstore Wholesale Price = $96.25


Aplia Integrated Textbook Solution (Bookstore Purchase Access)  (ISBN-10: 0324420978 | ISBN-13: 9780324420975)

The Aplia Integrated Text Solution box contains your mandatory Aplia access code granting you access to the program and full online version of the class text. This option DOES NOT include the required reader (Current and Classic Readings for Microeconomic Literacy) or textbook (Mankiw's, Principles of Microeconomics, Fourth Edition. You MUST purchase these separately.

List Price = $140.95  | College Bookstore Wholesale Price = $103.75


Meet the Author

About the Author

William J. Baumol

William J. Baumol received his BSS 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 consultant to the management of 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 of the American Philosophical Society, founded by Benjamin Franklin. Baumol is the author of more than thirty-five books, and hundreds of journal and newspaper articles that have been translated into more than a dozen languages.

Alan S. Blinder

Alan S. Blinder earned his Master’s degree at the London School of Economics and a Ph.D. at MIT. He teaches at Princeton University and is the co-director of Princeton’s Center for Economic Policy Studies. Blinder was President Clinton’s first Council of Economic Advisers, served as vice chairman of the Federal Reserve Board, and played a role in formulating both the fiscal and monetary policies of the 1990s. Blinder wrote newspaper and magazine columns on economic policy for more than ten years.

Reviews

Customer Reviews

“The text is very strong as is. It addresses topics at just the right level of depth/complexity for my students.”
— Andrew Pearlman, Bard College
“I continue to enjoy using the Baumol and Blinder text. My students find it clear, relevant and accessible.”
— Kolleen Rask, College of the Holy Cross

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