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The Scope of Macroeconomics • Microeconomics: Object of interest is a single (or small number of) household or firm. • Macroeconomics: Object of interest is the entire economy. We care mostly about: 1. Growth. 2. Fluctuations. 2
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Table of Contents. Chapter 1: Economics: The Study of Choice. Chapter 2: Confronting Scarcity: Choices in Production. Chapter 3: Demand and Supply. Chapter 4: Applications of Demand and Supply. Chapter 5: Macroeconomics: The Big Picture. Chapter 6: Measuring Total Output and Income.
1.1 What is macroeconomics? Macroeconomics is the branch of economics which seeks to model the econ-omy as a whole. Like microeconomics, macroeconomics is a social science, in that it tries to model and predict human behaviour. Macroeconomics sets itself a highly ambitious task. Human economies are not only highly complex
The aim of the Handbooks in Economics series is to produce Handbooks for various branches of economics, each of which is a definitive source, reference, and teaching supplement for use by professional researchers and advanced graduate students.
Principles of Macroeconomics. The goal of this textbook is to help students understand how real individuals actually work with economics. In this textbook, the authors illustrate the practicality and relevance of economics with a variety of new illustrations and insights. For questions about this textbook please contact textbookuse@umn.edu.
Principles of Macroeconomics is an adaptation of the textbook, Macroeconomics: Theory, Markets, and Policy by D. Curtis and I. Irvine, and presents a complete and concise examination of introductory macroeconomics theory and policy suitable for a first introductory course.
1. Distinguish the concerns of macroeconomics from microeconomics. 2. Recognize potential consequences of slow or rapid price changes. 3. Identify and describe the three main macroeconomic goals. 4. Recognize new perspectives implied by the goal of sustainability. 5. Identify and distinguish the major historical traditions of economic thought ...
The third edition takes a balanced approach to the theory and application of macroeconomics concepts. The text uses conversational language and ample illustrations to explore economic theories, and provides a wide array of examples using both fictional and real-world scenarios.
Macroeconomics, eighth edition is organized around two central parts: A core and a set of two major extensions. The text’s flexible organization emphasizes an integrated view of macroeconomics, while enabling professors to focus on the theories, models, and applications that they deem central to their particular course.