There is a new edition of this book available Macroeconomic Essentials, 4e.
Macroeconomic Essentials, 3e
Understanding Economics in the News
by Kennedy
ISBN: 9780262288620 | Copyright 2010
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| Contents (pg. vii) | |
| Preface (pg. xiii) | |
| Chapter 1. Introduction (pg. 1) | |
| 1.1 Media Economics (pg. 2) | |
| 1.2 Up-and-Down Economics (pg. 3) | |
| 1.3 Policy Evaluation (pg. 4) | |
| 1.4 A Picture Can Be Worth a Thousand Words (pg. 4) | |
| 1.5 Really Important Macroeconomic Ideas (pg. 5) | |
| Chapter 2. The Basics of Supply and Demand, and a Big Picture (pg. 11) | |
| 2.1 Supply and Demand Diagram (pg. 12) | |
| 2.2 Equilibrium (pg. 13) | |
| 2.3 Shifts in Curves versus Movements along Curves (pg. 14) | |
| 2.4 Media Examples (pg. 16) | |
| 2.5 Macroeconomic Markets (pg. 17) | |
| 2.6 Picturing the Macroeconomic Markets (pg. 18) | |
| 2.7 A “Big Picture” for Macroeconomics (pg. 20) | |
| Chapter 3. Measuring GDP and Inflation (pg. 23) | |
| 3.1 What Is GDP? (pg. 24) | |
| 3.2 Estimating GDP (pg. 26) | |
| 3.3 GDP as Gross Deceptive Product (pg. 28) | |
| 3.4 Real versus Nominal GDP (pg. 31) | |
| 3.5 Measuring Inflation (pg. 33) | |
| 3.6 The Costs of Infl ation (pg. 37) | |
| Chapter 4. Unemployment (pg. 51) | |
| 4.1 Defining and Measuring Unemployment (pg. 52) | |
| 4.2 The Employment/Unemployment Connection (pg. 55) | |
| 4.3 What Is Full Employment? (pg. 56) | |
| 4.4 The Cost of Unemployment (pg. 58) | |
| Chapter 5. The Role of Aggregate Demand (pg. 71) | |
| 5.1 Aggregate Demand (pg. 72) | |
| 5.2 Determining National Income (pg. 73) | |
| 5.3 The Multiplier (pg. 75) | |
| 5.4 How Big Is the Multiplier? (pg. 79) | |
| 5.5 Inventories and Forecasting (pg. 84) | |
| 5.6 Policy Implications (pg. 85) | |
| 5.7 Deficit Spending (pg. 87) | |
| 5.8 Burdening Future Generations (pg. 90) | |
| Chapter 6. The Supply Side (pg. 117) | |
| 6.1 The Aggregate Supply Curve (pg. 118) | |
| 6.2 The Aggregate Demand Curve (pg. 119) | |
| 6.3 Using the Aggregate-Supply/Aggregate-Demand Diagram (pg. 121) | |
| 6.4 Where Is Full Employment? (pg. 122) | |
| 6.5 Moving into a Boom (pg. 123) | |
| 6.6 Moving into a Recession (pg. 126) | |
| 6.7 Analyzing Supply Shocks (pg. 129) | |
| 6.8 Supply-Side Economics (pg. 131) | |
| Chapter 7. Growth and Productivity (pg. 143) | |
| 7.1 The Determinants of Growth (pg. 144) | |
| 7.2 The Productivity Growth Process (pg. 149) | |
| 7.3 The Role of National Saving (pg. 151) | |
| 7.4 Policy for Growth (pg. 155) | |
| Chapter 8. The Money Supply (pg. 167) | |
| 8.1 What Is Money? (pg. 168) | |
| 8.2 Fractional Reserve Banking (pg. 172) | |
| 8.3 Controlling the Money Supply (pg. 174) | |
| 8.4 The Money Multiplier (pg. 175) | |
| 8.5 The Subprime Mortgage Crisis (pg. 177) | |
| Chapter 9. The Monetarist Rule (pg. 189) | |
| 9.1 The Quantity Theory (pg. 190) | |
| 9.2 The Modern Quantity Theory (pg. 191) | |
| 9.3 The Monetarist Rule (pg. 194) | |
| 9.4 Seigniorage (pg. 197) | |
| 9.5 The Rules-versus-Discretion Debate (pg. 198) | |
| Chapter 10. Monetary Policy and Interest Rates (pg. 217) | |
| 10.1 A Multitude of Interest Rates (pg. 218) | |
| 10.2 Interest Rates and the Price of Bonds (pg. 219) | |
| 10.3 Monetary Policy and Interest Rates (pg. 225) | |
| 10.4 The Transmission Mechanism (pg. 226) | |
| 10.5 Monetary Policy versus Fiscal Policy (pg. 228) | |
| Chapter 11. Real-versus-Nominal Interest Rates (pg. 247) | |
| 11.1 Expected Inflation (pg. 248) | |
| 11.2 The Real Rate of Interest (pg. 249) | |
| 11.3 The Nominal Rate of Interest (pg. 251) | |
| 11.4 Policy Implications (pg. 254) | |
| Chapter 12. Stagflation (pg. 273) | |
| 12.1 The Phillips Curve (pg. 274) | |
| 12.2 Policy Implications (pg. 278) | |
| 12.3 Fighting Infl ation with Recession (pg. 280) | |
| 12.4 Wage-Price Controls (pg. 285) | |
| 12.5 Explaining Stagfl ation (pg. 286) | |
| Chapter 13. The Balance of Payments (pg. 307) | |
| 13.1 The Balance of Payments (pg. 308) | |
| 13.2 Determinants of Foreign Exchange Market Activity (pg. 309) | |
| 13.3 The International Economic Accounts (pg. 312) | |
| 13.4 The Twin Defi cits (pg. 315) | |
| Chapter 14. Policy in an Open Economy (pg. 327) | |
| 14.1 International Imbalance with a Flexible Exchange Rate (pg. 328) | |
| 14.2 International Imbalance with a Fixed Exchange Rate (pg. 330) | |
| 14.3 International Influence on Fiscal Policy (pg. 331) | |
| 14.4 International Influence on Monetary Policy (pg. 332) | |
| 14.5 Sterilization Policy (pg. 334) | |
| 14.6 Government Influence on the Exchange Rate (pg. 335) | |
| 14.7 Fixed-versus-Flexible Exchange Rates (pg. 337) | |
| Chapter 15. Purchasing Power Parity (pg. 349) | |
| 15.1 Inflation with a Fixed Exchange Rate (pg. 350) | |
| 15.2 Inflation with a Flexible Exchange Rate (pg. 352) | |
| 15.3 Purchasing Power Parity (pg. 354) | |
| 15.4 The PPP Exchange Rate (pg. 357) | |
| Chapter 16. Interest-Rate Parity (pg. 367) | |
| 16.1 Why Are Real Interest Rates Similar in Different Countries? (pg. 368) | |
| 16.2 Why Approximately? (pg. 369) | |
| 16.3 Why Not Nominal Interest Rates? (pg. 370) | |
| Appendix A. Answers to Sample Exam Questions (pg. 383) | |
| Chapter 3: Measuring GDP and Infl ation (pg. 383) | |
| Chapter 4: Unemployment (pg. 384) | |
| Chapter 5: The Role of Aggregate Demand (pg. 384) | |
| Chapter 6: The Supply Side (pg. 385) | |
| Chapter 7: Growth and Productivity (pg. 386) | |
| Chapter 8: The Money Supply (pg. 386) | |
| Chapter 9: The Monetarist Rule (pg. 387) | |
| Chapter 10: Monetary Policy and Interest Rates (pg. 388) | |
| Chapter 11: Real-versus-Nominal Interest Rates (pg. 388) | |
| Chapter 12: Stagflation (pg. 389) | |
| Chapter 13: The Balance of Payments (pg. 389) | |
| Chapter 14: Policy in an Open Economy (pg. 390) | |
| Chapter 15: Purchasing Power Parity (pg. 390) | |
| Chapter 16: Interest Rate Parity (pg. 391) | |
| Appendix B. Answers to Even-Numbered Exercises (pg. 393) | |
| Chapter 3: Measuring GDP and Inflation (pg. 393) | |
| Chapter 4: Unemployment (pg. 395) | |
| Chapter 5: The Role of Aggregate Demand (pg. 397) | |
| Chapter 6: The Supply Side (pg. 401) | |
| Chapter 7: Growth and Productivity (pg. 402) | |
| Chapter 8: The Money Supply (pg. 404) | |
| Chapter 9: The Monetarist Rule (pg. 405) | |
| Chapter 10: Monetary Policy and Interest Rates (pg. 408) | |
| Chapter 11: Real-versus-Nominal Interest Rates (pg. 413) | |
| Chapter 12: Stagflation (pg. 416) | |
| Chapter 13: The Balance of Payments (pg. 419) | |
| Chapter 14: Policy in an Open Economy (pg. 421) | |
| Chapter 15: Purchasing Power Parity (pg. 424) | |
| Chapter 16: Interest Rate Parity (pg. 426) | |
| Glossary (pg. 429) | |
| Index (pg. 447) | |
Peter Kennedy
The late Peter E. Kennedy was Professor Emeritus of Economics at Simon Fraser University.
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