Macroeconomics presents macroeconomic theory in a big-picture way. The text focuses on a single model, to provide you with a clear understanding of macroeconomics and its classical and Keynesian assumptions. Comprehensive coverage helps you analyze real macroeconomic data that real policy makers and researchers use. The 11th Edition features new coverage, applications, and problems throughout. It also reflects recent events and developments in the field, such as the recent COVID-19 pandemic and the tools used by the Federal Reserve in response.

Contents

Part 1: Introduction

Chapter 1. Introduction to Macroeconomics

Chapter 2. The Measurement and Structure of the National Economy

Part 2: Long-Run Economic Performance

Chapter 3. Productivity, Output, and Employment

Chapter 4. Consumption, Saving, and Investment

Chapter 5. Saving and Investment in the Open Economy

Chapter 6. Long-Run Economic Growth

Chapter 7. The Asset Market, Money, and Prices

Part 3: Business Cycles and Macroeconomic Policy

Chapter 8. Business Cycles

Chapter 9. The IS- LM/ AD- AS Model: A General Framework for Macroeconomic Analysis

Chapter 10. Classical Business Cycle Analysis: Market-Clearing Macroeconomics

Chapter 11. Keynesianism: The Macroeconomics of Wage and Price Rigidity

Part 4: Macroeconomic Policy: Its Environment and Institutions

Chapter 12. Unemployment and Inflation

Chapter 13. Exchange Rates, Business Cycles, and Macroeconomic Policy in the Open Economy

Chapter 14. Monetary Policy and the Federal Reserve System

Chapter 15. Government Spending and Its Financing