Principles of Macroeconomics 3e

by OpenStax

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Principles of Macroeconomics has been developed to meet the scope and sequence of most introductory macroeconomics courses. At the same time, the book includes a number of innovative features designed to enhance student learning. Instructors can also customize the book, adapting it to the approach that works best in their classroom.

Description from LibreTexts.

Subjects
Social Sciences, Economics
Licence
CC BY 4.0, as LibreTexts states it
Who can read
Teens profiles and older, judged from its title and subjects

Contents

LibreTexts writes equations in TeX, and here they show as TeX; the PDF has them typeset.

  1. Front Matter
  2. TitlePage
  3. InfoPage
  4. Table of Contents
  5. Licensing
  6. 1: Welcome to Economics
  7. 1.1: Introduction
  8. 1.2: What Economics Is and Why is it Important
  9. 1.3: Microeconomics and Macroeconomics
  10. 1.4: How Economists Use Theories and Models to Understand Economic Issues
  11. 1.5: How Economies Can Be Organized- An Overview of Economic Systems
  12. 1.6: Key Terms
  13. 1.7: Key Concepts and Summary
  14. 1.8: Self-Check Questions
  15. 1.9: Review Questions
  16. 1.10: Critical Thinking Questions
  17. 2: Choice in a World of Scarcity
  18. 2.1: Introduction to Choice in a World of Scarcity
  19. 2.2: How Individuals Make Choices Based on Their Budget Constraint
  20. 2.3: The Production Possibilities Frontier and Social Choices
  21. 2.4: Confronting Objections to the Economic Approach
  22. 2.5: Key Terms
  23. 2.6: Key Concepts and Summary
  24. 2.7: Self-Check Questions
  25. 2.8: Review Questions
  26. 2.9: Critical Thinking Questions
  27. 2.10: Problems
  28. 3: Demand and Supply
  29. 3.1: Introduction to Demand and Supply
  30. 3.2: Demand, Supply, and Equilibrium in Markets for Goods and Services
  31. 3.3: Shifts in Demand and Supply for Goods and Services
  32. 3.4: Changes in Equilibrium Price and Quantity- The Four-Step Process
  33. 3.5: Price Ceilings and Price Floors
  34. 3.6: Demand, Supply, and Efficiency
  35. 3.7: Key Terms
  36. 3.8: Key Concepts and Summary
  37. 3.9: Self-Check Questions
  38. 3.10: Review Questions
  39. 3.11: Critical Thinking Questions
  40. 3.12: Problems
  41. 4: Labor and Financial Markets
  42. 4.1: Introduction to Labor and Financial Markets
  43. 4.2: Demand and Supply at Work in Labor Markets
  44. 4.3: Demand and Supply in Financial Markets
  45. 4.4: The Market System as an Efficient Mechanism for Information
  46. 4.5: Key Terms
  47. 4.6: Key Concepts and Summary
  48. 4.7: Self-Check Questions
  49. 4.8: Review Questions
  50. 4.9: Critical Thinking Questions
  51. 4.10: Problems
  52. 5: Elasticity
  53. 5.1: Introduction to Elasticity
  54. 5.2: Price Elasticity of Demand and Price Elasticity of Supply
  55. 5.3: Polar Cases of Elasticity and Constant Elasticity
  56. 5.4: Elasticity and Pricing
  57. 5.5: Elasticity in Areas Other Than Price
  58. 5.6: Key Terms
  59. 5.7: Key Concepts and Summary
  60. 5.8: Self-Check Questions
  61. 5.9: Review Questions
  62. 5.10: Critical Thinking Questions
  63. 5.11: Problems
  64. 6: The Macroeconomic Perspective
  65. 6.1: Introduction to the Macroeconomic Perspective
  66. 6.2: Measuring the Size of the Economy- Gross Domestic Product
  67. 6.3: Adjusting Nominal Values to Real Values
  68. 6.4: Tracking Real GDP over Time
  69. 6.5: Comparing GDP among Countries
  70. 6.6: How Well GDP Measures the Well-Being of Society
  71. 6.7: Key Terms
  72. 6.8: Key Concepts and Summary
  73. 6.9: Self-Check Questions
  74. 6.10: Review Questions
  75. 6.11: Critical Thinking Questions
  76. 6.12: Problems
  77. 7: Economic Growth
  78. 7.1: Introduction to Economic Growth
  79. 7.2: The Relatively Recent Arrival of Economic Growth
  80. 7.3: Labor Productivity and Economic Growth
  81. 7.4: Components of Economic Growth
  82. 7.5: Economic Convergence
  83. 7.6: Key Terms
  84. 7.7: Key Concepts and Summary
  85. 7.8: Self-Check Questions
  86. 7.9: Review Questions
  87. 7.10: Critical Thinking Questions
  88. 7.11: Problems
  89. 8: Unemployment
  90. 8.1: Introduction to Unemployment
  91. 8.2: How Economists Define and Compute Unemployment Rate
  92. 8.3: Patterns of Unemployment
  93. 8.4: What Causes Changes in Unemployment over the Short Run
  94. 8.5: What Causes Changes in Unemployment over the Long Run
  95. 8.6: Key Terms
  96. 8.7: Key Concepts and Summary
  97. 8.8: Self-Check Questions
  98. 8.9: Review Questions
  99. 8.10: Critical Thinking Questions
  100. 8.11: Problems
  101. 9: Inflation
  102. 9.1: Introduction to Inflation
  103. 9.2: Tracking Inflation
  104. 9.3: How to Measure Changes in the Cost of Living
  105. 9.4: How the U.S. and Other Countries Experience Inflation
  106. 9.5: The Confusion Over Inflation
  107. 9.6: Indexing and Its Limitations
  108. 9.7: Key Terms
  109. 9.8: Key Concepts and Summary
  110. 9.9: Self-Check Questions
  111. 9.10: Review Questions
  112. 9.11: Critical Thinking Questions
  113. 9.12: Problems
  114. 10: The International Trade and Capital Flows
  115. 10.1: Introduction to the International Trade and Capital Flows
  116. 10.2: Measuring Trade Balances
  117. 10.3: Trade Balances in Historical and International Context
  118. 10.4: Trade Balances and Flows of Financial Capital
  119. 10.5: The National Saving and Investment Identity
  120. 10.6: The Pros and Cons of Trade Deficits and Surpluses
  121. 10.7: The Difference between Level of Trade and the Trade Balance
  122. 10.8: Key Terms
  123. 10.9: Key Concepts and Summary
  124. 10.10: Self-Check Questions
  125. 10.11: Review Questions
  126. 10.12: Critical Thinking Questions
  127. 10.13: Problems
  128. 11: The Aggregate Demand/Aggregate Supply Model
  129. 11.1: Introduction to the Aggregate Demand/Aggregate Supply Model
  130. 11.2: Macroeconomic Perspectives on Demand and Supply
  131. 11.3: Building a Model of Aggregate Demand and Aggregate Supply
  132. 11.4: Shifts in Aggregate Supply
  133. 11.5: Shifts in Aggregate Demand
  134. 11.6: How the AD/AS Model Incorporates Growth, Unemployment, and Inflation
  135. 11.7: Keynes’ Law and Say’s Law in the AD/AS Model
  136. 11.8: Key Terms
  137. 11.9: Key Concepts and Summary
  138. 11.10: Self-Check Questions
  139. 11.11: Review Questions
  140. 11.12: Critical Thinking Questions
  141. 11.13: Problems
  142. 12: The Keynesian Perspective
  143. 12.1: Introduction to the Keynesian Perspective
  144. 12.2: Aggregate Demand in Keynesian Analysis
  145. 12.3: The Building Blocks of Keynesian Analysis
  146. 12.4: The Phillips Curve
  147. 12.5: The Keynesian Perspective on Market Forces
  148. 12.6: Key Terms
  149. 12.7: Key Concepts and Summary
  150. 12.8: Self-Check Questions
  151. 12.9: Review Questions
  152. 12.10: Critical Thinking Questions
  153. 13: The Neoclassical Perspective
  154. 13.1: Introduction to the Neoclassical Perspective
  155. 13.2: The Building Blocks of Neoclassical Analysis
  156. 13.3: The Policy Implications of the Neoclassical Perspective
  157. 13.4: Balancing Keynesian and Neoclassical Models
  158. 13.5: Key Terms
  159. 13.6: Key Concepts and Summary
  160. 13.7: Self-Check Questions
  161. 13.8: Review Questions
  162. 13.9: Critical Thinking Questions
  163. 13.10: Problems
  164. 14: Money and Banking
  165. 14.1: Introduction to Money and Banking
  166. 14.2: Defining Money by Its Functions
  167. 14.3: Measuring Money- Currency, M1, and M2
  168. 14.4: The Role of Banks
  169. 14.5: How Banks Create Money
  170. 14.6: Key Terms
  171. 14.7: Key Concepts and Summary
  172. 14.8: Self-Check Questions
  173. 14.9: Review Questions
  174. 14.10: Critical Thinking Questions
  175. 14.11: Problems
  176. 15: Monetary Policy and Bank Regulation
  177. 15.1: Introduction to Monetary Policy and Bank Regulation
  178. 15.2: The Federal Reserve Banking System and Central Banks
  179. 15.3: Bank Regulation
  180. 15.4: How a Central Bank Executes Monetary Policy
  181. 15.5: Monetary Policy and Economic Outcomes
  182. 15.6: Pitfalls for Monetary Policy
  183. 15.7: Key Terms
  184. 15.8: Key Concepts and Summary
  185. 15.9: Self-Check Questions
  186. 15.10: Review Questions
  187. 15.11: Critical Thinking Questions
  188. 15.12: Problems
  189. 16: Exchange Rates and International Capital Flows
  190. 16.1: Introduction to Exchange Rates and International Capital Flows
  191. 16.2: How the Foreign Exchange Market Works
  192. 16.3: Demand and Supply Shifts in Foreign Exchange Markets
  193. 16.4: Macroeconomic Effects of Exchange Rates
  194. 16.5: Exchange Rate Policies
  195. 16.6: Key Terms
  196. 16.7: Key Concepts and Summary
  197. 16.8: Self-Check Questions
  198. 16.9: Review Questions
  199. 16.10: Critical Thinking Questions
  200. 16.11: Problems
  201. 17: Government Budgets and Fiscal Policy
  202. 17.1: Introduction to Government Budgets and Fiscal Policy
  203. 17.2: Government Spending
  204. 17.3: Taxation
  205. 17.4: Federal Deficits and the National Debt
  206. 17.5: Using Fiscal Policy to Fight Recession, Unemployment, and Inflation
  207. 17.6: Automatic Stabilizers
  208. 17.7: Practical Problems with Discretionary Fiscal Policy
  209. 17.8: The Question of a Balanced Budget
  210. 17.9: Key Terms
  211. 17.10: Key Concepts and Summary
  212. 17.11: Self-Check Questions
  213. 17.12: Review Questions
  214. 17.13: Critical Thinking Questions
  215. 17.14: Problems
  216. 18: The Impacts of Government Borrowing
  217. 18.1: Introduction to the Impacts of Government Borrowing
  218. 18.2: How Government Borrowing Affects Investment and the Trade Balance
  219. 18.3: Fiscal Policy and the Trade Balance
  220. 18.4: How Government Borrowing Affects Private Saving
  221. 18.5: Fiscal Policy, Investment, and Economic Growth
  222. 18.6: Key Terms
  223. 18.7: Key Concepts and Summary
  224. 18.8: Self-Check Questions
  225. 18.9: Review Questions
  226. 18.10: Critical Thinking Questions
  227. 18.11: Problems
  228. 19: Macroeconomic Policy Around the World
  229. 19.1: Introduction to Macroeconomic Policy around the World
  230. 19.2: The Diversity of Countries and Economies across the World
  231. 19.3: Improving Countries’ Standards of Living
  232. 19.4: Causes of Unemployment around the World
  233. 19.5: Causes of Inflation in Various Countries and Regions
  234. 19.6: Balance of Trade Concerns
  235. 19.7: Key Terms
  236. 19.8: Key Concepts and Summary
  237. 19.9: Self-Check Questions
  238. 19.10: Review Questions
  239. 19.11: Critical Thinking Questions
  240. 19.12: Problems
  241. 20: International Trade
  242. 20.1: Introduction to International Trade
  243. 20.2: Absolute and Comparative Advantage
  244. 20.3: What Happens When a Country Has an Absolute Advantage in All Goods
  245. 20.4: Intra-industry Trade between Similar Economies
  246. 20.5: The Benefits of Reducing Barriers to International Trade
  247. 20.6: Key Terms
  248. 20.7: Key Concepts and Summary
  249. 20.8: Self-Check Questions
  250. 20.9: Review Questions
  251. 20.10: Critical Thinking Questions
  252. 20.11: Problems
  253. 21: Globalization and Protectionism
  254. 21.1: Introduction to Globalization and Protectionism
  255. 21.2: Protectionism- An Indirect Subsidy from Consumers to Producers
  256. 21.3: International Trade and Its Effects on Jobs, Wages, and Working Conditions
  257. 21.4: Arguments in Support of Restricting Imports
  258. 21.5: How Governments Enact Trade Policy- Globally, Regionally, and Nationally
  259. 21.6: The Tradeoffs of Trade Policy
  260. 21.7: Key Terms
  261. 21.8: Key Concepts and Summary
  262. 21.9: Self-Check Questions
  263. 21.10: Review Questions
  264. 21.11: Critical Thinking Questions
  265. 21.12: Problems
  266. 22: Appendix
  267. 22.1: Appendix A- The Use of Mathematics in Principles of Economics
  268. 22.2: Appendix B- The Expenditure-Output Model
  269. 22.3: Answer Key
  270. 22.3.1: Chapter 1
  271. 22.3.2: Chapter 2
  272. 22.3.3: Chapter 3
  273. 22.3.4: Chapter 4
  274. 22.3.5: Chapter 5
  275. 22.3.6: Chapter 6
  276. 22.3.7: Chapter 7
  277. 22.3.8: Chapter 8
  278. 22.3.9: Chapter 9
  279. 22.3.10: Chapter 10
  280. 22.3.11: Chapter 11
  281. 22.3.12: Chapter 12
  282. 22.3.13: Chapter 13
  283. 22.3.14: Chapter 14
  284. 22.3.15: Chapter 15
  285. 22.3.16: Chapter 16
  286. 22.3.17: Chapter 17
  287. 22.3.18: Chapter 18
  288. 22.3.19: Chapter 19
  289. 22.3.20: Chapter 20
  290. 22.3.21: Chapter 21
  291. Back Matter
  292. Index
  293. Glossary
  294. Detailed Licensing
  295. Detailed Licensing