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SCHAUM’S OUTLINE OF MACROECONOMICS 3rd Edition By Eugene Diulio 1999 / 333 pages ISBN-13: 978-0-07-017053-7 / MHID: 0-07-017053-3 A Schaum Publication CONTENTS 1. Introduction to Macroeconomic Analysis. 2. Measures of Output, Prices, and Employment. 3. Output in the Short and Long Run. 4. Models of Spending Equilibrium. 5. The IS-LM Framework. 6. Monetary and Fiscal Policy in a Closed Economy. 7. Monetary and Fiscal Policy in an Open Economy. 8. Schedules of Aggregate Demand and Aggregate Supply. 9. Aggregate Supply and Aggregate Demand Analysis. 10. Aggregate Supply, Aggregate Demand, and Inflation. 11. Economic Growth. 12. The Supply of and Demand for Money. 13. Consumption. 14. Theories of Investment. SCHAUM’S OUTLINE OF PRINCIPLES OF ECONOMICS 2nd Edition By Dominick Salvatore and Eugene A. Diulio 1996 / 368 pages ISBN-13: 978-0-07-054629-5 / MHID: 0-07-054629-0 A Schaum Publication CONTENTS 1. Introduction to Economics. 2. The Economic Problem. 3. Demand, Supply, and Equilibrium. 4. Introduction to Macroeconomics. 5. Unemployment, Inflation, and National Income. 6. Consumption, Investment, and Net Exports. 7. Keynesian Approach to Equilibrium Output. 8. Fiscal Policy. 9. Money and Banking. 10. The Federal Reserve and the Money Supply. 11. Monetary and Fiscal Policy. 12. Inflation, Unemployment, Deficits, and Debt. 13. Economic Growth and Productivity. 14. Demand, Supply and Elasticity. 15. The Theory of Consumer Demand and Utility. 16. Costs of Production. 17. Price and Output. 18. Perfect Competition. 19. Price and Output: Monopoly. 20. Price and Output: Monopolistic Competition and Oligopoly. 21. Production and the Demand for Economic Resources. 22. Wage Determination.23. Rent, Interest, and Profits. Principles of Macroeconomics - Textbooks New Economics MACROECONOMICS 8th Edition By Stephen Slavin, Union College 2008 (September 2006) / 544 pages ISBN-13: 978-0-07-328148-3 / MHID: 0-07-328148-4 Website: http://www.mhhe.com/slavin8e Steve Slavin’s lively and comprehensive Macroeconomics has a student-friendly, step-by-step approach; value pricing; and a built-in Workbook/Study Guide. Instructors and students like the author’s humorous anecdotes, direct language, and easy conversational style. The text encourages active rather than passive reading. New to this edition • A Chapter Issues section at the end of each chapter gives practical application to at least one of the concepts covered in the chapter. • New discussions have been added to provide yet more practical application to the overall text. • The discussion of comparative advantage in Chapter 18 has been written for simplicity and clarity, making it easier for students to learn. Features • Value Price: Slavin’s low price continues to make it one of the best values on the market. It’s approximately $25 less than other principles texts. • Fun Writing Style: The author’s humorous writing style and historical approach to economics are a hit with students who might otherwise find the subject dry or intimidating. Steve Slavin is an experienced and respected author--in addition to having over 30 years experience teaching the principles course, he has written 11 other math and economics books. • Streamlined Text: The streamlined basis of the text has been retained from the previous version, and the more obscure passages have been simplified. COMPLIMENTARY COPIES Complimentary desk copies are available for course adoption only. Kindly contact your local McGraw-Hill Representative or fax the Examination Copy Request Form available on the back pages of this catalog. Visit McGraw-Hill Education Website: www.mheducation.com • Special In-Text Boxes: Dozens of self-help boxes anticipate and answer frequently asked questions. The book reviews math that students should have learned before college. The better prepared students can skip this material, but this review enables all students to start on a level playing field in the course. Many advanced work boxes provide more challenging material, giving adventurous students an opportunity to learn and master difficult material. This optional material can be easily skipped by instructors. CONTENTS 1 A Brief Economic History of the United States. 2 Resource Utilization. 3 Supply and Demand. 4 The Mixed Economy. 5 The Household-Consumption Sector. 6 The Business-Investment Sector. 7 The Government Sector. 8 The Export-Import Sector. 9 Gross Domestic Product. 10 Economic Fluctuations, Unemployment, and Inflation. 11 Classical and Keynesian Economics. 12 Fiscal Policy and National Debt. 13 Money and Banking. 14 The Federal Reserve and Monetary Policy. 15 A Century Of Economic Policy. 16 Economic Growth and Productivity. 17 Income Distribution and Poverty. 18 International Trade. 19 International Finance 19
Economics International Edition New PRINCIPLES OF MACROECONOMICS 3rd Edition By Robert H. Frank, Cornell University-Ithaca and Ben Bernanke, Princeton University 2007 (January 2006) ISBN-13: 978-0-07-323061-0 / MHID: 0-07-323061-8 (with Discover Econ Code Card) ISBN-13: 978-0-07-110820-1 / MHID: 0-07-110820-3 [IE with Discover Econ Code Card] Website: http://www.mhhe.com/economics/frankbernanke3 In recent years, innovative texts in mathematics, science, foreign languages, and other fields have achieved dramatic pedagogical gains by abandoning the traditional encyclopedic approach in favor of attempting to teach a short list of core principles in depth. Two well-respected writers and researchers, Bob Frank and Ben Bernanke, have shown that the less-is-more approach affords similar gains in introductory economics. Although recent editions of a few other texts have paid lip service to this new approach, Frank/Bernanke is by far the best thought out and best executed principles text in this mold. Avoiding excessive reliance on formal mathematical derivations, it presents concepts intuitively through examples drawn from familiar contexts. The authors introduce a well-articulated short list of core principles and reinforcing them by illustrating and applying each in numerous contexts. Students are periodically asked to apply these principles to answer related questions and exercises. The text also encourages students to become “Economic Naturalists,” people who employ basic economic principles to understand and explain what they observe in the world around them. An economic naturalist understands, for example, that infant safety seats are required in cars but not in airplanes because the marginal cost of space to accommodate these seats is typically zero in cars but often hundreds of dollars in airplanes. Such examples engage student interest while teaching them to see each feature of their economic landscape as the reflection of an implicit or explicit cost-benefit calculation. NEW TO THIS EDITION • Expanded Discussion of Macroeconomic Policy: The revised monetary policy reaction function we introduce in Chapter 27 is a more realistic description of how the Fed actually conducts monetary policy and clarifies the Taylor rule. In Chapter 28 we use this policy reaction function to help students distinguish between a move along the aggregate demand curve and a shift in the aggregate demand curve resulting from a change in monetary policy. In a new Chapter 29, we provide a more complete analysis of the interaction between fiscal and monetary policy, illustrating the crucial role of the central bank in any long-run inflation. We also discuss how enhanced credibility can help to anchor inflationary expectations and explain the contributions of central bank independence, inflation targeting, and central bank reputation. In the last section of Chapter 29 we expand our discussion of the real-world difficulties in conducting macroeconomic policy. • More Patient Presentation of Models: In Chapter 26 we explain the effects of tax cuts on planned aggregate expenditure more carefully. In an optional box we also solve a simple Keynesian model, leaving the full model in the appendix, as in the second edition. In the diagrams in Chapter 28 we include the transitional short-run aggregate supply lines to illustrate how the short-run aggregate supply line shifts when actual output deviates from potential output. • Expanded Discussion of Supply-Side Economics: Most economists agree that changes in marginal tax rates can affect both aggregate demand and aggregate supply, but they disagree on the size of the effects. In Chapter 28 we describe this controversy in greater detail and present both the theoretical and empirical evidence of the effects of changes in marginal tax rates on aggregate supply. • Greater Attention to Asset Prices: In Chapter 21 we provide a clearer explanation of the inverse relationship between bond prices and interest rates. We also discuss the effects of changes in asset prices (especially stocks and houses) on aggregate demand. • Simpler Presentation of Exchange Rates: We use supply and demand curves to illustrate the determination of nominal exchange rates before we introduce the real exchange rate and purchasing-power-parity. • Additional Material on China: At its current rate of growth the Chinese economy may become the largest economy in the world within the next generation. In this edition we expand our discussion of China in the world economy. We discuss the determinants of its success and its management of its exchange rate. • New Material on the Acceleration of Productivity Growth: The productivity slowdown of 1973-1995 has been followed by surprisingly strong productivity growth. We present and discuss the reasons for this acceleration. • Updated Discussion of Saving and Investment: In addition to emphasizing the importance of public and private saving and the relationship between the budget deficit, national saving, and capital flows, we discuss the recently divergent trends in business and household saving. features • An Emphasis on Core Principles: A few core principles do most of the work in economics. By focusing on these principles, the text assures that students leave the course with a deep mastery of them. In contrast, traditional encyclopedic texts so overwhelm students with detail that they often leave the course with little useful working knowledge at all. • Economic Naturalism Introduced: The authors’ ultimate goal is to produce “economic naturalists”--people who see each human action as the result of an implicit or explicit cost-benefit calculation. The economic naturalist sees mundane details of ordinary existence in a new light and becomes actively engaged in the attempt to understand them. o Why don’t auto manufacturers make cars without heaters? o Why are whales, but not chickens, threatened with extinction? o Why do movie theaters give student discounts on the price of admission but not on the price of popcorn? • Active Learning Stressed: The only way to lean to hit an overhead smash in tennis or to speak a foreign language is through repeated practice. The same is true for learning economics. Thus, the authors consistently introduce new ideas in the context of simple examples and then follow them with applications showing how they work in familiar settings. And frequently, the text poses exercises that both test and reinforce the understanding of these ideas. The end-of-chapter questions and problems are carefully crafted to help students internalize and extend core concepts. Students are prepared to apply the important concepts to solve “economic riddles” drawn from the real world. • Well-Known Authors: Robert Frank and Ben Bernanke are renowned experts in their fields (micro and macro, respectively). Frank’s research has looked at rivalry and cooperation in economic and social behavior. He is the author of a best-selling intermediate economics text, Microeconomics and Behavior, (McGraw-Hill/Irwin), and has published such award-winning books as The Winner-Take-All-Society and Luxury Fever. Bernanke is the co-author of a best-selling intermediate macroeconomics text and has done significant research on the causes of the Great Depression, the role of financial markets and institutions in the business cycle, and measuring the effects of monetary policy on the economy. He was a member of the Federal Reserve Board of Governors for more than 2 years and is now the Chairman of the President’s Council of Economic Advisers. • Modern Macroeconomics: Recent developments have renewed interest in cyclical fluctuations while still paying attention to such long-run issues as growth, productivity, the evolution of real wages, and capital formation. Thus, we offer the following organization: A 5-chapter treatment of long-run issues prior to an analysis of short-run fluctuations followed by a modern treatment of short-term fluctuations and stabilization policy, emphasizing the important distinction between short- and long-run behavior of the economy. Consistent with both media reporting and recent research on the central bank reaction function, we treat the interest rate rather than the money supply as the instrument of Fed policy. The analysis of aggregate demand and aggregate supply 20
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