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Macroeconomics
Welcome to the 22nd edition of Economics, America’s most innovative—and popular—economics textbook.
We are pleased to present faculty and students with comprehensive revisions, insightful new content, and significant improvements to both our online learning system and our industry-leading ancillary materials.
Significant Content Updates
The financial crisis and the subsequent slow recovery increased both student and faculty demand for principles-level content geared toward explaining directly and intuitively why markets and governments fail—sometimes spectacularly—in delivering optimal social outcomes. To satisfy that demand, our presentation of market failures, government failure, and public choice theory has been significantly restructured in Chapters 4 and 5 to allow students to quickly absorb the key lessons regarding externalities, public goods provision, voting paradoxes, the special interest effect, and other problems that hinder either markets or governments from achieving optimal social outcomes.
Faculty teaching macroeconomics will also find that we have made major changes to our presentation of monetary policy. These important updates explain how the post-Crisis Fed conceptualizes its role in the economy—the dual mandate—and how it currently operationalizes contractionary or expansionary monetary policy in pursuit of full employment with price stability.
Our innovative presentation revolves around the monetary policy “bullseye chart” pioneered by the Chicago Fed. We explain in a friendly and intuitive manner why expectations matter so much and how monetary policy rules like the Taylor rule are helpful in explaining the priorities of Fed policymakers with respect to balancing the goal of moderate inflation with the goal of full employment. We also explain why and how interest on excess reserves (IOER) and the “repo rate” have supplanted the federal funds rate as the Fed’s major tool for modulating banking lending and credit creation.
Improved Efficiency for Instructors
Faculty time is precious. To preserve as much of it as possible for the faculty adopting Economics, we went sentence-by-sentence and section-by-section, pulling out extraneous examples, eliminating unnecessary graphs, and—in some cases—removing entire sections that faculty reported they didn’t have time to teach. We have slashed the average chapter’s word count by about 15 percent, even after accounting for newly added content.
These changes have been reviewed positively by faculty and we are excited that our streamlined presentation frees up faculty time for more advanced classroom activities, including experiments, debates, simulations, and various forms of peer instruction and team-based learning.
Improved Readability for Students
Student time is also precious. The current crop of college students are digital natives and social media pioneers. They are used to Googling for answers, reading things that tend to be no longer than a Tweet, and receiving instant feedback. We have revised our presentation to accommodate their fast-paced, nonlinear learning style. You will find a greater economy of language and an increased focus on key examples, including new Key Graphs that have self-contained Quick Quizzes to help students comprehend and apply crucial models.
We have also worked hard to accommodate the large number of students who study by “hunting” through a chapter rather than by reading the content in sequence. They will find dozens of additional in-chapter Quick Review boxes to help them identify key material, scores of additional headers to help them scan for key concepts, and a much greater use of bullet points to organize related concepts and ideas.
These revisions will also aid traditional students who study the old-fashioned way by providing them with increased structure and organization. Traditional students will additionally appreciate our switch to a single-column design that allows for extensive note taking in the margins.
Examples and Illustrations that Resonate with Students
Students absorb economic theory most easily when it resonates with their experiences and is explained with current examples.
To that end, the 22nd edition covers many topics that are currently in the news.
The new edition also features new “Consider This” and “Last Word” boxed features that drive home key ideas in an accessible, student-oriented manner. Topics include “Bitcoin and Cheap Electrons,” “Hasta La Vista, Venezuela,” and “Voluntary Pollution Control.”
Accelerating Student Achievement via Adaptive Learning and Innovative Ancillary Materials
Would you as a faculty member enjoy spending less time on definitions and more time on theory, applications, and enrichment material?
Most faculty say YES!—which is why we continue to make large annual improvements to what is already the most effective digital learning platform in higher education: Connect Economics.
https://bookshelf.vitalsource.com/reader/books/9781260597356
Ketersediaan
| Call Number | Location | Available |
|---|---|---|
| 339 MCC m | PSB lt.1 - B. Wajib | 1 |
| Penerbit | New York Mc Graw Hill., 2021 |
|---|---|
| Edisi | 22 |
| Subjek | Macroeconomics |
| ISBN/ISSN | 9781260597509 |
| Klasifikasi | 339 |
| Deskripsi Fisik | 378 p. : ill. ; 28 cm |
| Info Detail Spesifik | - |
| Other Version/Related | Tidak tersedia versi lain |
| Lampiran Berkas |
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