Macroeconomics

SIGNIFICANTLY REVISED COVERAGE OF THE FEDERAL RESERVE SYSTEM (CH. 13) REVIEWS CHANGES IN MONETARY POLICY TODAY. This rewritten chapter on the Federal Reserve System now highlights the major difference between how monetary policy was conducted in the past (pre-October 2008) and how it is conducted today. This discussion of today’s monetary policy examines how the interest on reserves rate (IOR rate) and the overnight reverse repurchase rate (ON-RRP rate) are used by the Fed in conducting monetary and interest rate policy in an ample reserves environment.

"QUESTIONS TO ANSWER BEFORE GOING TO CLASS" HELPS STUDENTS PREPARE FOR MEANINGFUL, INTERACTIVE CLASS DISCUSSIONS. This feature gives students an opportunity to answer 15-25 thought-provoking questions based on the chapter reading. Answering these questions gives students confidence in their preparation for upcoming class lectures.

"WHAT’S WRONG WITH THIS DIAGRAM?" AND RELATED FEATURES HELP STUDENTS UNDERSTAND ECONOMIC DIAGRAMS. This feature works with proven "Working With Diagrams" and "Progression Graphs" learning aids to help students master both reading and understanding all of the critical diagrams found in today’s macroeconomics course.

"OFFICE HOURS" LEARNING FEATURE GIVES A BEHIND THE SCENES EXPLANATION OF CHAPTER TOPICS. This engaging feature lets students witness a back-and-forth dialogue between instructor and student on a topic highlighted within the chapter. These back-and-forth dialogues also help clarify or expand upon previously discussed topic.