Publisher's Synopsis
Principles of Macroeconomics by Richard Holden (University of New South Wales), Betsey Stevenson (University of Michigan), and Justin Wolfers (University of Michigan) emphasises that every decision is an economic decision. The authors' focus on useful economics uses compelling explanations and real-life examples to help students develop and apply economic intuition to their everyday decisions.
The authors provide a fresh take on a wide range of principles topics across the Microeconomics, Macroeconomics version and the full Principles version. They develop macroeconomics from its microfoundations in an engaging presentation that has drawn enthusiastic reviews from hundreds of instructors and thousands of students in pre-publication class-tests.
A cutting-edge presentation of the macroeconomy emphasises how microfoundations underpin macroeconomic theory, helps students apply their understanding of the macroeconomy in their professional and personal lives, and provides the most realistic and current presentation of monetary policy. To convey the understanding of macroeconomic fluctuations, Stevenson and Wolfers offer instructors a choice: 1) a modern framework including the IS curve to explain spending decisions, MP curve to describe monetary policy, and Phillips curve to explain inflation, and 2) a traditional AD-AS approach.
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