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Addison-Wesley / Prentice Hall

Economics

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Macroeconomics plus MyEconLab plus eBook 1-semester Student Access Kit, 6/E
Andrew B. AbelWharton School of the University of Pennsylvania
Ben S. BernankeChairman of the Federal Reserve
Dean CroushoreRobins School of Business, University of Richmond

ISBN-10: 0321451406
ISBN-13:  9780321451408

Publisher:  Prentice Hall
Copyright:  2008
Format:  Cloth Package; 672 pp
Published:  12/29/2006
New edition available
  This item has been replaced by Macroeconomics 2008-2009 Update Edition plus MyEconLab One-semester Student Access Kit, 6/E.



Abel, Bernanke, and Croushore present macroeconomic theory in a way that prepares students to analyze real macroeconomic data used by policy makers and researchers. With a balanced treatment of both classical and Keynesian economics, the comprehensive coverage makes it easy for instructors to align chapters to fit their own syllabi.

Students in this course often struggle to see how the macroeconomic models compare to one another, and fit into the big picture. This text uses a unified approach based on a single economics model that provides students with a clear understanding of macroeconomics and its classical and Keynesian assumptions.

The Sixth Edition includes the latest work in monetary policy and research, offers worked examples to students learning the IS-LM model, and features MyEconLab, the online homework and tutorial program with automatically graded problem sets.

View a demo of MyEconLab. For more information about MyEconLab, or to request an Instructor Access Code, visit MyEconLab.

  • Coverage of inflation and monetary policy reflects the latest work by researchers and the Federal Reserve.
  • Early coverage of long-run topics in chapters 3–7 reflects a commitment to modern macro theory, followed by an equally in-depth analysis of short-run issues in chapters 8–11.
  • A unified framework uses a single model, built from a set of core economic ideas, to introduce the macroeconomic theories and concepts.
  • A balanced presentation of both classical and Keynesian economics allows students to see the complete picture of economic theory, and allows flexibility for professors to teach the course their way.
  • Real-world applications connect theory to practice, helping students make active use of the economic ideas in the text.
    • Applications show students how theory is used to understand real-world macroeconomic issues.
    • Boxes draw from current research, highlighting interesting new developments and topics in the field.
    • In Touch with the Macroeconomy boxes ask students to find and interpret macroeconomic data, like economists would in their careers.
  • Learning tools for students aid comprehension and application. Key diagrams in each chapter help students identify the most critical ideas. Summary tables and extensive end-of-chapter problem sets help to reinforce learning.
  • Each new copy of the text comes with prepaid access to MyEconLab, Addison-Wesley’s online homework and tutorial solution. The Sixth Edition includes end-of-chapter problems which can be assigned in and automatically graded by MyEconLab. For more information, visit MyEconLab.

  • New coauthor Dean Croushore formally joins the team after contributing to previous editions as a contributing author and a supplements author. Croushore served fourteen years at the Federal Reserve Bank of Philadelphia, twelve of which as the head of the macroeconomics section.
  • New monetary and fiscal policy coverage includes:
    • How the zero bound on nominal interest rates affected monetary policy in Japan, Switzerland, and the United States (chapter 11).
    • The U.S. disinflation of the 1980s and 1990s (chapter 12).
    • The role of communication in monetary policy (chapter 14).
    • Recent proposals to reform the U.S. income tax system to save the U.S. social security system (chapter 15).
  • New labor market issues include:
    • A discussion of a comparison of U.S. and European labor markets (chapter 3)
    • The impact of globalization (chapter 5).
    • The jobless recovery following the 2001 recession (chapter 8).
    • Measurement of the natural rate of unemployment (chapter 12).
  • New appendices to the business cycle chapters (chapters 9–11) show examples of numerical exercises using the model equations, a discussion of the jobless recovery from the 2001 recession (chapter 8), a box on DSE models and the classical–Keynesian debate (chapter 11).
  • New growth-related topics include a discussion of the productivity miracle of the 1990s and the growth of China’s economy.
  • New PowerPoint® lecture slides allow professors to adapt their course directly to the content of the book.
  • Select end-of-chapter problems can now be assigned online in MyEconLab. The system will automatically grade students’ work and record it in the online Gradebook.
  • New flexible options for professors. Professors can choose a traditional MyEconLab course with pre-loaded assessments and other tutorial learning aids. Professors who wish to customize can assign problems for a grade and track students’ performance with the advanced functionality of MyEconLab in CourseCompass. For more information, visit www.myeconlab.com.
  • Choice of format for students. In addition to the traditional textbook format, which comes packaged with prepaid access to MyEconLab, students have additional purchase options online.

PART 1 INTRODUCTION


Chapter 1 Introduction to Macroeconomics
1.1 What Macroeconomics Is About
1.2 What Macroeconomists Do
1.3 Why Macroeconomists Disagree

Chapter 2 The Measurement and Structure of the National Economy
2.1 National Income Accounting: The Measurement of Production, Income, and Expenditure
2.2 Gross Domestic Product
2.3 Saving and Wealth
2.4 Real GDP, Price Indexes, and Inflation
2.5 Interest Rates

PART 2 LONG-RUN ECONOMIC PERFORMANCE

Chapter 3 Productivity, Output, and Employment
3.1 How Much Does the Economy Produce? The Production Function
3.2 The Demand for Labor
3.3 The Supply of Labor
3.4 Labor Market Equilibrium
3.5 Unemployment
3.6 Relating Output and Unemployment: Okun’s Law

Chapter 4 Consumption, Saving, and Investment
4.1 Consumption and Saving
4.2 Investment
4.3 Goods Market Equilibrium

Chapter 5 Saving and Investment in the Open Economy
5.1 Balance of Payments Accounting
5.2 Goods Market Equilibrium in an Open Economy
5.3 Saving and Investment in a Small Open Economy
5.4 Saving and Investment in Large Open Economies
5.5 Fiscal Policy and the Current Account

Chapter 6 Long-Run Economic Growth
6.1 The Sources of Economic Growth
6.2 Growth Dynamics: The Solow Model
6.3 Government Policies to Raise Long-Run Living Standards

Chapter 7 The Asset Market, Money, and Prices
7.1 What Is Money?
7.2 Portfolio Allocation and the Demand for Assets
7.3 The Demand for Money
7.4 Asset Market Equilibrium
7.5 Money Growth and Inflation

PART 3 BUSINESS CYCLES AND MACROECONOMIC POLICY

Chapter 8 Business Cycles
8.1 What Is a Business Cycle?
8.2 The American Business Cycle: The Historical Record
8.3 Business Cycle Facts
8.4 Business Cycle Analysis: A Preview

Chapter 9 The IS-LM/AD-AS Model: A General Framework for Macroeconomic Analysis
9.1 The FE Line: Equilibrium in the Labor Market
9.2 The IS Curve: Equilibrium in the Goods Market
9.3 The LM Curve: Asset Market Equilibrium
9.4 General Equilibrium in the Complete IS–LM Model
9.5 Price Adjustment and the Attainment of General Equilibrium
9.6 Aggregate Demand and Aggregate Supply

Chapter 10 Classical Business Cycle Analysis: Market-Clearing Macroeconomics
10.1 Business Cycles in the Classical Model
10.2 Money in the Classical Model
10.3 The Misperceptions Theory and the Nonneutrality of Money

Chapter 11 Keynesianism: The Macroeconomics of Wage and Price Rigidity
11.1 Real-Wage Rigidity
11.2 Price Stickiness
11.3 Monetary and Fiscal Policy in the Keynesian Model
11.4 The Keynesian Theory of Business Cycles and Macroeconomic Stabilization

PART 4 MACROECONOMIC POLICY: ITS ENVIRONMENT AND INSTITUTIONS

Chapter 12 Unemployment and Inflation
12.1 Unemployment and Inflation: Is There a Trade-Off?
12.2 The Problem of Unemployment
12.3 The Problem of Inflation

Chapter 13 Exchange Rates, Business Cycles, and Macroeconomic Policy in the Open Economy
13.1 Exchange Rates
13.2 How Exchange Rates Are Determined: A Supply-and-Demand Analysis
13.3 The IS–LM Model for an Open Economy
13.4 Macroeconomic Policy in an Open Economy with Flexible Exchange Rates
13.5 Fixed Exchange Rates

Chapter 14 Monetary Policy and the Federal Reserve System
14.1 Principles of Money Supply Determination
14.2 Monetary Control in the United States
14.3 The Conduct of Monetary Policy: Rules Versus Discretion

Chapter 15 Government Spending and Its Financing
15.1 The Government Budget: Some Facts and Figures
15.2 Government Spending, Taxes, and the Macroeconomy
15.3 Government Deficits and Debt
15.4 Deficits and Inflation

Appendix A Some Useful Analytical Tools

  • 9780321558459
    Macroeconomics 2008-2009 Update Edition plus MyEconLab One-semester Student Access Kit, 6/E
    Abel, Bernanke & Croushore
    ©2009 | Prentice Hall | Cloth Package | Instock
    ISBN-10: 0321558456 | ISBN-13: 9780321558459
    Brief Description | Buy from myPearsonStore

Andrew B. Abel is the Ronald A. Rosenfeld Professor of Finance at the Wharton School and professor of economics at the University of Pennsylvania. He received his AB summa cum laude from Princeton University and holds a PhD from the Massachusetts Institute of Technology. Abel has published extensively on fiscal policy, capital formation, monetary policy, asset pricing, and social security—as well as serving on the editorial boards of numerous journals. He has been honored as the Alfred P. Sloan Fellow, a Fellow of the Econometric Society, and a recipient of the John Kenneth Galbraith Award for teaching excellence. He is a Research Associate of the National Bureau of Economic Research and a member of the Advisory Board of the Carnegie-Rochester Conference Series.

Ben S. Bernanke Previously the Howard Harrison and Gabrielle Snyder Beck Professor of Economics and Public Affairs at Princeton University, Ben Bernanke received both the Allyn Young Prize for best Harvard undergraduate economics thesis and the John H. Williams prize for outstanding senior in the economics department. He went on to earn his PhD from the Massachusetts Institute of Technology, and he has been honored as a Research Associate of the National Bureau of Economic Research. Currently, he is Chairman and a member of the Board of Governors of the Federal Reserve System.

Dean Croushore is an associate professor of economics and Rigsby Fellow at the University of Richmond. Croushore served for fourteen years at the Federal Reserve Bank of Philadelphia, twelve of which as the head of the macroeconomics section. He has taught previously at Penn State University, Temple University, the Wharton School of the University of Pennsylvania, Johns Hopkins University, and Princeton University.

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Addison-Wesley
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ISBN-10: 0321588037 | ISBN-13: 9780321588036
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MyFinanceLab for eCollege Student Access Code Card (for valuepacks)
Pearson
©2010 | Prentice Hall | Access Code Card | Estimated Availability : 06/26/2009
ISBN-10: 0136124305 | ISBN-13: 9780136124306
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Abel, Bernanke & Croushore
©2008 | Prentice Hall | On-line Supplement | Instock
ISBN-10: 0321490258 | ISBN-13: 9780321490254
URLhttp://www.myeconlab.com


MyEconLab Homework for Macroeconomics, 6/E
Abel & Bernanke
©2008 | Prentice Hall | On-line Supplement | Instock
ISBN-10: 0321456793 | ISBN-13: 9780321456793
URLhttp://www.myeconlab.com


MyEconLab in CourseCompass Course for Macroeconomics, 6/E
Abel, Bernanke & Croushore
©2008 | Prentice Hall | On-line Supplement | Instock
ISBN-10: 0321490312 | ISBN-13: 9780321490315
URLhttp://www.myeconlab.com/

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MyEconLab in CourseCompass Homework for Macroeconomics, 6/E
Abel & Bernanke
©2008 | Prentice Hall | On-line Supplement | Instock
ISBN-10: 0321456769 | ISBN-13: 9780321456762


Companion Website for Macroeconomics, 6/E
Abel, Bernanke & Croushore
©2008 | Prentice Hall | Website | Instock
ISBN-10: 0321517156 | ISBN-13: 9780321517159


Blackboard Test Bank for Macroeconomics, 6/E
Abel, Bernanke & Croushore
©2008 | Prentice Hall | On-line Supplement | Instock
ISBN-10: 0321517849 | ISBN-13: 9780321517845
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Companion Website for Macroeconomics, 6/E
Abel, Bernanke & Croushore
©2008 | Prentice Hall | Website | Instock
ISBN-10: 0321517156 | ISBN-13: 9780321517159


Computerized Test Bank for Macroeconomics, 6/E
Abel, Bernanke & Croushore
©2008 | Prentice Hall | On-line Supplement | Instock
ISBN-10: 0321460766 | ISBN-13: 9780321460769
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Instructor's Resource Disk for Macroeconomics, 6/E
Abel, Bernanke & Croushore
©2008 | Prentice Hall | CD-ROM Only | Instock
ISBN-10: 0321460758 | ISBN-13: 9780321460752


MyEconLab Course for Macroeconomics, 6/E
Abel, Bernanke & Croushore
©2008 | Prentice Hall | On-line Supplement | Instock
ISBN-10: 0321490258 | ISBN-13: 9780321490254
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Abel & Bernanke
©2008 | Prentice Hall | On-line Supplement | Instock
ISBN-10: 0321456793 | ISBN-13: 9780321456793
URLhttp://www.myeconlab.com


MyEconLab in CourseCompass Course for Macroeconomics, 6/E
Abel, Bernanke & Croushore
©2008 | Prentice Hall | On-line Supplement | Instock
ISBN-10: 0321490312 | ISBN-13: 9780321490315
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MyEconLab in CourseCompass Homework for Macroeconomics, 6/E
Abel & Bernanke
©2008 | Prentice Hall | On-line Supplement | Instock
ISBN-10: 0321456769 | ISBN-13: 9780321456762


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Abel, Bernanke & Croushore
©2008 | Prentice Hall | On-line Supplement | Instock
ISBN-10: 0321490894 | ISBN-13: 9780321490896
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Abel, Bernanke & Croushore
©2008 | Prentice Hall | On-line Supplement | Instock
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Abel, Bernanke & Croushore
©2008 | Prentice Hall | On-line Supplement | Instock
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Companion Website for Macroeconomics, 6/E
Abel, Bernanke & Croushore
©2008 | Prentice Hall | Website | Instock
ISBN-10: 0321517156 | ISBN-13: 9780321517159


MyEconLab Course for Macroeconomics, 6/E
Abel, Bernanke & Croushore
©2008 | Prentice Hall | On-line Supplement | Instock
ISBN-10: 0321490258 | ISBN-13: 9780321490254
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MyEconLab CourseCompass with E-Book 1-semester Student Access Kit (standalone)
Addison-Wesley
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Abel & Bernanke
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URLhttp://www.myeconlab.com


MyEconLab Student Access Code Card (Standalone)
Pearson
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MyEconLab for MyLabsPlus 1 Semester Student Access Code Card (Standalone)
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©2009 | Prentice Hall | Access Code Card | Estimated Availability : 06/26/2009
ISBN-10: 0136124771 | ISBN-13: 9780136124771
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MyEconLab for WebCT Student Access Code Card (Standalone)
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©2009 | Prentice Hall | Access Code Card | Estimated Availability : 06/26/2009
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MyEconLab for WebCT Student Access Code Card (for valuepacks)
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MyEconLab for eCollege Student Access Code Card (Standalone)
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ISBN-10: 0136124828 | ISBN-13: 9780136124825
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MyEconLab in CourseCompass Course for Macroeconomics, 6/E
Abel, Bernanke & Croushore
©2008 | Prentice Hall | On-line Supplement | Instock
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MyEconLab in CourseCompass Homework for Macroeconomics, 6/E
Abel & Bernanke
©2008 | Prentice Hall | On-line Supplement | Instock
ISBN-10: 0321456769 | ISBN-13: 9780321456762


MyEconLab with E-Book 1-semester Student Access Kit (Standalone)
Addison-Wesley
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ISBN-10: 0321588037 | ISBN-13: 9780321588036
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MyFinanceLab for eCollege Student Access Code Card (for valuepacks)
Pearson
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ISBN-10: 0136124305 | ISBN-13: 9780136124306
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Abel, Bernanke & Croushore
©2008 | Prentice Hall | Paper; 304 pp | Instock
ISBN-10: 0321482190 | ISBN-13: 9780321482198
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For Intermediate Macroeconomics

Prentice Hall Guide to Economist.com
Economist.com
©2002 | Prentice Hall | Paper | Instock
ISBN-10: 0130668346 | ISBN-13: 9780130668349


MyEconLab CourseCompass with E-Book 1-semester Student Access Kit (standalone)
Addison-Wesley
©2010 | Prentice Hall | Access Code Card | Instock
ISBN-10: 0321578708 | ISBN-13: 9780321578709
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MyEconLab Student Access Code Card (Standalone)
Pearson
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MyEconLab for MyLabsPlus 1 Semester Student Access Code Card (Standalone)
Pearson
©2009 | Prentice Hall | Access Code Card | Estimated Availability : 06/26/2009
ISBN-10: 0136124771 | ISBN-13: 9780136124771
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MyEconLab for WebCT Student Access Code Card (Standalone)
Pearson
©2009 | Prentice Hall | Access Code Card | Estimated Availability : 06/26/2009
ISBN-10: 0136124860 | ISBN-13: 9780136124863
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MyEconLab for WebCT Student Access Code Card (for valuepacks)
Pearson
©2009 | Prentice Hall | Access Code Card | Estimated Availability : 06/26/2009
ISBN-10: 0136124887 | ISBN-13: 9780136124887
URLhttp://www.myeconlab.com


MyEconLab for eCollege Student Access Code Card (Standalone)
Pearson
©2009 | Prentice Hall | Access Code Card | Estimated Availability : 06/26/2009
ISBN-10: 0136124828 | ISBN-13: 9780136124825
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MyEconLab with E-Book 1-semester Student Access Kit (Standalone)
Addison-Wesley
©2010 | Prentice Hall | Access Code Card | Instock
ISBN-10: 0321588037 | ISBN-13: 9780321588036
URLhttp://www.myeconlab.com


MyFinanceLab for eCollege Student Access Code Card (for valuepacks)
Pearson
©2010 | Prentice Hall | Access Code Card | Estimated Availability : 06/26/2009
ISBN-10: 0136124305 | ISBN-13: 9780136124306
URLhttp://www.myfinancelab.com


MyEconLab Course for Macroeconomics, 6/E
Abel, Bernanke & Croushore
©2008 | Prentice Hall | On-line Supplement | Instock
ISBN-10: 0321490258 | ISBN-13: 9780321490254
URLhttp://www.myeconlab.com


MyEconLab Homework for Macroeconomics, 6/E
Abel & Bernanke
©2008 | Prentice Hall | On-line Supplement | Instock
ISBN-10: 0321456793 | ISBN-13: 9780321456793
URLhttp://www.myeconlab.com


MyEconLab in CourseCompass Course for Macroeconomics, 6/E
Abel, Bernanke & Croushore
©2008 | Prentice Hall | On-line Supplement | Instock
ISBN-10: 0321490312 | ISBN-13: 9780321490315
URLhttp://www.myeconlab.com/

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MyEconLab in CourseCompass Homework for Macroeconomics, 6/E
Abel & Bernanke
©2008 | Prentice Hall | On-line Supplement | Instock
ISBN-10: 0321456769 | ISBN-13: 9780321456762


Companion Website for Macroeconomics, 6/E
Abel, Bernanke & Croushore
©2008 | Prentice Hall | Website | Instock
ISBN-10: 0321517156 | ISBN-13: 9780321517159


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