Macroeconomics for Today (MindTap Course List)

✍ Scribed by Irvin B. Tucker

• Publisher: Cengage Learning
• Year: 2022
• Tongue: English
• Leaves: 610
• Edition: 11
• Category: Library

✦ Synopsis

Master current economic concepts with the most reader-friendly macroeconomics text available -- MACROECONOMICS FOR TODAY, 11E by national award-winning author Irvin Tucker. No matter what your current level of macroeconomic understanding, this edition provides an interesting writing style, unique presentation and visual learning system with helpful, colorful graphs that clarify important macroeconomic principles and effectively explain the latest developments. Rather than presenting a confusing array of macroeconomic analyses for you to memorize, this edition demonstrates how to apply basic macroeconomic principles in daily life and recognize macroeconomic concepts at work in today's news. You study the latest information on economic growth, federal deficits, monetary policy and other emerging developments in macroeconomics. Learning tools, road maps and corresponding interactive, digital MindTap resources with videos, tutorials and practice exercises immediately reinforce your understanding.

✦ Table of Contents

Cover
About the Author
Brief Contents
Contents
The Four Versions of This Book
Preface
Part 1: Introduction to Economics
Chapter 1: Introducing the Economic Way of Thinking
1-1 Economics: The Study of Scarcity and Choice
1-2 Three Fundamental Economic Questions
1-3 The Methodology of Economics
1-4 Hazards of the Economic Way of Thinking
1-5 Why Do Economists Disagree?
A Closer Look: Unusual Economic Indicators
A Closer Look: Does the Minimum Wage Really Help the Working Poor?
Key Terms
Summary
Study Questions and Problems
Sample Quiz
Appendix to Chapter 1: Applying Graphs to Economics
Chapter 2: Production Possibilities, Opportunity Cost, and Economic Growth
2-1 Opportunity Cost
2-2 Marginal Analysis
2-3 The Production Possibilities Model
2-4 Opportunity Cost and the Production Possibilities Curve
2-5 Sources of Economic Growth
A Closer Look: FedEx Wasn't an Overnight Success
A Closer Look: How Does Public Capital Affect a Nation's Curve?
Key Terms
Summary
Study Questions and Problems
Sample Quiz
Road Map: Part 1: Introduction to Economics
Part 2: Microeconomics Fundamentals
Chapter 3: Market Demand and Supply
3-1 Demand
3-2 Supply
3-3 Market Equilibrium
A Closer Look: The Market Approach to Organ Shortages
3-4 Changes in Market Equilibrium
Key Terms
Summary
Study Questions and Problems
Sample Quiz
Chapter 4: Markets in Action
4-1 Market Efficiency
4-2 Sources of Market Failure
4-3 Policies to Correct Market Failure
A Closer Look: Can Vouchers Fix Our Schools?
Key Terms
Summary
Study Questions and Problems
Sample Quiz
Appendix to Chapter 4: Consumer Surplus, Producer Surplus, and Market Efficiency
Road Map: Part 2: Microeconomics Fundamentals
Part 3: Macroeconomics Fundamentals
Chapter 5: Gross Domestic Product
5-1 Gross Domestic Product
5-2 Measuring GDP
5-3 The Expenditure Approach
5-4 The Income Approach
5-5 GDP Shortcomings
5-6 Other National Income Accounts
A Closer Look: Is GDP a False Beacon Steering Us into the Rocks?
5-7 Changing Nominal Gdp to Real Gdp
Key Terms
Summary
Study Questions and Problems
Sample Quiz
Appendix to Chapter 5: A Four-Sector Circular Flow Model
Chapter 6: Business Cycles and Unemployment
6-1 The Business-Cycle Roller Coaster
6-2 Unemployment
6-3 Types of Unemployment
6-4 The Goal of Full Employment
A Closer Look: What Kind of Unemployment Do Robots and Artificial Intelligence Cause?
6-5 Nonmonetary and Demographic Consequences of Unemployment
A Closer Look: Brother Can You Spare a Dime?
Key Terms
Summary
Study Questions and Problems
Sample Quiz
Chapter 7: Inflation
7-1 Meaning and Measurement of Inflation
7-2 Consequences of Inflation
A Closer Look: Who Wants to Be a Trillionaire?
A Closer Look: Why the High Cost of Health Care?
7-3 Demand-Pull and Cost-Push Inflation
Key Terms
Summary
Study Questions and Problems
Sample Quiz
Road Map: Part 3: Macroeconomics Fundamentals
Part 4: Macroeconomics Theory and Policy
Chapter 8: The Keynesian Model
8-1 Introducing Classical Theory and the Keynesian Revolution
8-2 Reasons the Consumption Function Shifts
8-3 Investment Expenditures
8-4 Why Investment Demand Is Unstable
8-5 Investment as an Autonomous Expenditure
A Closer Look: Does a Stock Market Crash Cause Recession?
Key Terms
Summary
Study Questions and Problems
Sample Quiz
Chapter 9: The Keynesian Model in Action
9-1 Adding Government and Global Trade to the Keynesian Model
9-2 The Aggregate Expenditures Model
9-3 The Spending Multiplier Effect
9-4 Recessionary and Inflationary Gaps
A Closer Look: Infrastructure Spending
Key Terms
Summary
Study Questions and Problems
Sample Quiz
Chapter 10: Aggregate Demand and Supply
10-1 The Aggregate Demand Curve
10-2 Reasons for the Aggregate Demand Curve's Shape
10-3 Nonprice-Level Determinants of Aggregate Demand
10-4 The Aggregate Supply Curve
10-5 Changes in AD-AS Macroeconomic Equilibrium
10-6 Nonprice-Level Determinants of Aggregate Supply
10-7 Cost-Push and Demand-Pull Inflation Revisited
A Closer Look: Was John Maynard Keynes Right?
Key Terms
Summary
Study Questions and Problems
Sample Quiz
Appendix to Chapter 10: The Self-Correcting Aggregate Demand and Supply Model
Chapter 11: Fiscal Policy
11-1 Discretionary Fiscal Policy
11-2 Automatic Stabilizers
11-3 Supply-Side Fiscal Policy
A Closer Look: The Laffer Curve
Key Terms
Summary
Study Questions and Problems
Sample Quiz
Chapter 12: The Public Sector
12-1 Government Size and Growth
12-2 Financing Government Budgets
12-3 The Art of Taxation
12-4 Public Choice Theory
A Closer Look: Is It Time to Trash the 1040s?
Key Terms
Summary
Study Questions and Problems
Sample Quiz
Chapter 13: Federal Deficits, Surpluses, and the National Debt
13-1 The Federal Budget Balancing Act
A Closer Look: The Great Federal Budget Surplus Debate
13-2 Budget Surpluses and Deficits in Other Countries
13-3 Why Worry Over the National Debt?
A Closer Look: How Real Is Uncle Sam's Debt?
Key Terms
Summary
Study Questions and Problems
Sample Quiz
Road Map: Part 4: Macroeconomics Theory and Policy
Part 5: Money, Banking, and Monetary Policy
Chapter 14: Money and the Federal Reserve System
14-1 What Makes Money?
A Closer Look: Why a Loan in Yap Is Hard to Roll Over
14-2 Money Supply Definitions
14-3 The Federal Reserve System
14-4 What a Federal Reserve Bank Does
A Closer Look: Should the Fed Be Independent?
14-5 The U.S. Banking Revolution
Key Terms
Summary
Study Questions and Problems
Sample Quiz
Chapter 15: Money Creation
15-1 Money Creation Begins
15-2 Multiplier Expansion of Money by the Banking System
15-3 How Monetary Policy Creates Money
15-4 Monetary Policy Shortcomings
A Closer Look: How Does the FOMC Really Work?
Key Terms
Summary
Study Questions and Problems
Sample Quiz
Chapter 16: Monetary Policy
16-1 How Are Interest Rates Determined?
16-2 The Monetarist View of the Role of Money
16-3 A Comparison of Macroeconomic Views
A Closer Look: Did the Fed Cause the Great Recession?
A Closer Look: Monetary Policy During the Great Depression
Key Terms
Summary
Study Questions and Problems
Sample Quiz
Appendix to Chapter 16: Policy Disputes Using the Self-Correcting Aggregate Demand and Supply Model
Chapter 17: The Phillips Curve and Expectations Theory
17-1 The Phillips Curve
17-2 The Long-Run Phillips Curve
A Closer Look: The Political Business Cycle
17-3 The Theory of Rational Expectations
17-4 Applying the AD-AS Model to the Great Expectations Debate
17-5 Incomes Policy
17-6 How Different Macroeconomic Theories Attack Inflation
A Closer Look: Ford's Whip Inflation Now (WIN) Button
Key Terms
Summary
Study Questions and Problems
Sample Quiz
Road Map: Part 5: Money, Banking, and Monetary Policy
Part 6: The International Economy
Chapter 18: International Trade and Finance
18-1 Why Nations Need Trade
18-2 Absolute and Comparative Advantage
18-3 Free Trade Versus Protectionism
18-4 Arguments for Protection
A Closer Look: World Trade Slips on a Banana Peel
18-5 The Balance of Payments
18-6 Exchange Rates
A Closer Look: Return to the Yellow Brick Road?
Key Terms
Summary
Study Questions and Problems
Sample Quiz
Chapter 19: Economies in Transition
19-1 Basic Types of Economic Systems
19-2 The "ISMS"
19-3 Economies in Transition
A Closer Look: The Unrealistic Path to Communism
A Closer Look: Shining Light on a Debate
Key Terms
Summary
Study Questions and Problems
Sample Quiz
Chapter 20: Growth and the Less-Developed Countries
20-1 Comparing Developed and Less-Developed Countries
20-2 Economic Growth and Development Around the World
A Closer Look: India and China's Economic Growth: An Updated Version of Aesop's Tale
20-3 The Helping Hand of Advanced Countries
Key Terms
Summary
Study Questions and Problems
Sample Quiz
Road Map: Part 6: The International Economy
Appendix A: Answers to Odd-Numbered Study Questions and Problems
Appendix B: Answers to Sample Quizzes
Appendix C: Answers to Road Map Questions
Glossary
Index