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Macroeconomics with MyEconLab

Macroeconomics with MyEconLab

Global Edition

Frederic Mishkin

Jul 2011, Book with Online Course Access
ISBN13: 9780273760580
ISBN10: 0273760580
For orders to USA, Canada, Australia, New Zealand or Japan visit your local Pearson website
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Gain Hands on Insight, Make the Connections, Analyze the Theory, and Tailor the Material to Your Course!

This title is a Pearson Global Edition. The Editorial team at Pearson has worked closely with educators around the world to include content which is especially relevant to students outside the United States.

Building on his expertise in macroeconomic policymaking at the Federal Reserve, Mishkin’s Macroeconomics: Policy and Practice text clearly provides a theoretical framework that illustrates the most current and relevant policy debates in the field.


This new and exciting Global Edition has everything you need to Teach Your Course Your Way and still provide your students with the most current and locally relevant theories in Macroeconomics today!

PART ONE INTRODUCTION

Chapter 1 The Policy and Practice of Macroeconomics . . . . . . . . . . . . . . . . . . . . . . . . . .

Chapter 2 Measuring Macroeconomic Data . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

PART TWO MACROECONOMIC BASICS

Chapter 3 Aggregate Production and Productivity . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Chapter 4 Saving and Investment in Closed and Open Economies . . . . . . . . . . . . . . .

Chapter 5 Money and Inflation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

PART THREE LONG-RUN ECONOMIC GROWTH

Chapter 6 The Sources of Growth and the Solow Model . . . . . . . . . . . . . . . . . . . . . . .

Chapter 7 Drivers of Growth: Technology, Policy, and Institutions . . . . . . . . . . . . . .

PART FOUR BUSINESS CYCLES: THE SHORT RUN

Chapter 8 Business Cycles: An Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Chapter 9 The IS Curve . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Chapter 10 Monetary Policy and Aggregate Demand . . . . . . . . . . . . . . . . . . . . . . . . .

Chapter 11 Aggregate Supply and the Phillips Curve . . . . . . . . . . . . . . . . . . . . . . . . .

Chapter 12 The Aggregate Demand and Supply Model . . . . . . . . . . . . . . . . . . . . . . .

Chapter 13 Macroeconomic Policy and Aggregate Demand and Supply Analysis . . .

PART FIVE FINANCE AND THE MACROECONOMY

Chapter 14 The Financial System and Economic Growth . . . . . . . . . . . . . . . . . . . . . .

Chapter 15 Financial Crises and the Economy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Chapter 16 Financial Crises in Emerging Market Economies ……………………………….

PART SIX MACROECONOMIC POLICY

Chapter 17 Fiscal Policy and the Government Budget . . . . . . . . . . . . . . . . . . . . . . . . .

Chapter 18 Exchange Rates and International Economic Policy . . . . . . . . . . . . . . . . .

PART SEVEN MICROECONOMIC FOUNDATIONS

OF MACROECONOMICS

Chapter 19 Consumption and Saving . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Chapter 20 Investment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Chapter 21 The Labor Market, Employment, and Unemployment . . . . . . . . . . . . . .

PART EIGHT MODERN BUSINESS CYCLE ANALYSIS AND

MACROECONOMIC POLICY

Chapter 22 The Role of Expectations in Macroeconomic Policy . . . . . . . . . . . . . . . . .

Chapter 23 Modern Business Cycle Theory

Gain Hands on Insight, Make the Connections, Analyze the Theory, and Tailor the Material to Your Course!

Making the theory more relevant to you!Chapter 16: We have included this dedicated chapter on how the financial crises affected the developing world. Making the application more globally applicable.

Building on his expertise in macroeconomic policymaking at the Federal Reserve, Mishkin’s Macroeconomics: Policy and Practice text clearly provides a theoretical framework that illustrates the most current and relevant policy debates in the field.


This new and exciting text has everything you need to Teach Your Course Your Way and still provide your students with the most current and relevant policies and practice in Macroeconomics today!

Gain hands-on insight.
Examining and Applying Real-World Examples and Policies.
To show the relevance of the underlying theory, this text provides continual exposure to real-life economic issues through an array of cases and applications.

  • Applications: Over 40 in-chapter applications show students how to apply theories to real-world examples. Examples include:
    • The Great Inflation from 1965 to 1982
    • The 2007-2009 financial crisis
    • The impact of oil prices on real wages and the stock market
    • The foreign exchange crises
    • Why unemployment in the United States is typically lower than in Europe
  • Policy & Practice cases: Over 30 Policy & Practice cases explore specific examples of actual policies and how they were executed. Topics include:
    • How the Federal Reserve uses the Taylor rule
    • The non-conventional monetary policy during the 2007-2009 financial crisis
    • The political business cycle and Richard Nixon
    • The euro areas stability and growth pact
    • China’s one child policy
  • Macroeconomics in the News boxes: These boxes introduce and show students how to read relevant macroeconomic news articles and data.

Make the connections.
The Interaction of Finance and Macroeconomics.
Never before has the connection between finance and macroeconomics been so important. Mishkin includes three full chapters that discuss and analyze this relationship and the resulting policy implications:

  • The Financial System and Economic Growth focuses on the long run, showing how a well-functioning financial system promotes economic growth and builds a framework for Chapter 15’s look at how finance can affect the economy in the short run.
  • Financial Crises and the Economy analyzes the dynamics of financial crises and then applies this analysis to explaining both the most recent worldwide financial crisis as well as earlier episodes in U.S. history.
  • Financial Crises in Emerging Market Economies, expands the analysis of economic fluctuations to economies that have recently opened up their markets to the outside world. It covers the Asian and Argentinean financial crises, and looks at the impact of the 2008 financial crisis on Iceland.

Analyze the theory.

Analyzing today’s hot-button policy issues requires approaching macroeconomic theory with the models that researchers and policymakers employ.

  • Dynamic AD/AS. This text provides a powerful, dynamic aggregate demand and supply (AD/AS) model that unfolds, step-by-step. This model serves as the sole engine for analysis of short-run fluctuations in economic activity and inflation. In this model, inflation is on the vertical axis (as opposed to the price level).
  • Assembling the overall model and provides a number of applications for immediate reinforcement, while shows how the policymaker employs the model to stabilize inflation and output fluctuations.

Economic Growth. Mishkin’s accessible, applied approach continues in this textbook’s presentation of growth theory:

Tailor the material to your course.
Flexible Structure. Macroeconomics: Policy and Practice has a highly flexible structure that allows instructors to tailor the book to their course needs.

Frederic S. Mishkin is the Alfred Lerner Professor of Banking and Financial Institutions at the Graduate School of Business, Columbia University. He is also a Research Associate at the National Bureau of Economic Research, and from September 2006 to August 2008 was a member (governor) of the Board of Governors of the Federal Reserve System. He has also been a Senior Fellow at the FDIC Center for Banking Research, and past President of the Eastern Economic Association. Since receiving his PhD from the Massachusetts Institute of Technology in 1976, he has taught at the University of Chicago, Northwestern University, Princeton University, and University Columbia. He has also received an honorary professorship from the Peoples (Renmin) University of China. From 1994 to 1997 he was Executive Vice President and Director of Research at the Federal Reserve Bank of New York and an associate economist of the Federal Open Market Committee of the Federal Reserve System.

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