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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