Economics

Learning in the same way research is currently conducted: A Modern Approach. The modern approach used in this text, which has students build macroeconomic models from microeconomic principles, is consistent with the way macroeconomic research is conducted today. This approach has three major advantages for students:

1. Allows deeper insights into economic growth processes and business cycles, which are the key topics in macroeconomics.
2. Better integrates the study of macroeconomics with what will be covered in economics and microeconomics courses.
3. Helps students better prepare for advanced study in economics.
   

Gain insider insight: Real-World Applications. It’s important for students to not only learn the principles and theories, but to also understand how they apply to the real world—and their future careers. This text contains features that encourage students to put theory into real-world practice:

• “Theory Confronts the Data” feature brings macroeconomic theory to life by having students match the characteristics of real-world economic data.
• “Macroeconomics in Action” feature relates real-world applications to theory, summarizes ideas from front-line research in macroeconomics and the history of economic thought, and aids students in understanding core material.
• NEW! “Perspectives on the Financial Crisis” boxes use the theoretical frameworks in the text to present information on the recent worldwide financial crisis and its implications for the 2008-09 recession.  
  

See concepts in action: Art Program. Graphs and charts are plentiful in this text, helping students to see the concepts in action. The visual representations of macroeconomic models in this text can also be manipulated to derive important results and show key features of important macro data in applications.

Make studying and retention easier: End-of-Chapter Summary. Each chapter wraps up with an easy-to-read summary of the key ideas contained in the chapter, followed by a glossary of key terms. The terms are also highlighted in bold where they appear within the chapter so that students can revisit the definitions in context.

Challenge proficiency: Questions and Problems. The end of each chapter contains questions and problems that can be used as a self-test for students. These questions and problems relate directly to ideas and facts covered in the chapter and are intended to be challenging and thought provoking.

NEW! Evaluating the financial crisis: “Perspectives on the Financial Crisis” feature. This new feature is used to show how the economic model(s) in each chapter can be used to understand key features of the financial crisis and the 2008-09 recession. Topics include:

• Government Expenditures and the American Recovery and Investment Act of 2009
• Asymmetric Information and Interest Rate Spreads
• The Housing Market, Collateral, and Consumption
• The Total Government Spending Multiplier: Barro vs. Romer
• The Effects of Monetary Policy When the Nominal Interest Rate is Zero

NEW! Taking a look behind the scenes of the financial crisis: New Chapter on Credit Market Imperfections. The new Chapter 9: Credit Market Imperfections: Credit Frictions, Financial Crises, and Social Security extends the material on credit market behavior in Chapter 8. Overall, this new chapter highlights the study of the key credit market frictions that are important to understanding the causes of the financial crisis/2008-09 recession.

Revised! Understanding money demand and supply: Chapter 11: Money, Banking, Prices, and Monetary Policy. To clearly and accessibly capture the modern theory of money demand and supply, this chapter has been revised to model the choices of consumers and firms between currency and alternative means of payment, while integrating the behavior of banks.

NEW! Following a seamless new approach to Keynesian economics. This new approach has essentially turned Chapter 13: New Keynesian Economics: Sticky Prices into a new chapter. The model used in Chapter 13 is in line with modern approaches to Keynesian Economics, which focus on sticky prices rather than sticky wages, and dispense with the “LM curve” of traditional Keynesian analysis.

Part I. Introduction and Measurement Issues    
Chapter 1: Introduction    
Chapter 2: Measurement    
Chapter 3: Business Cycle Measurement    
Part II. A One-Period Model of the Macroeconomy    
Chapter 4: Consumer and Firm Behavior: The Work–Leisure Decision and Profit Maximization    
Chapter 5: A Closed-Economy One-Period Macroeconomic Model    
Part III. Economic Growth    
Chapter 6: Economic Growth: Malthus and Solow    
Chapter 7: Income Disparity Among Countries and Endogenous Growth    
Part IV. Savings, Investment, and Government Deficits    
Chapter 8: A Two-Period Model: The Consumption–Savings Decision and Credit Markets    
Chapter 9: Credit Market Imperfections: Credit Frictions, Financial Crises, and Social Security    
Chapter 10: A Real Intertemporal Model with Investment    
Part V. Money and Business Cycles    
Chapter 11: Money, Banking, Prices, and Monetary Policy    
Chapter 12: Market-Clearing Models of the Business Cycle    
Chapter 13: New Keynesian Economics: Sticky Prices    
Part VI. International Macroeconomics    
Chapter 14: International Trade in Goods and Assets    
Chapter 15: Money in the Open Economy    
Part VII. Topics in Macroeconomics    
Chapter 16: Money, Inflation, and Banking    
Chapter 17: Unemployment: Search and Efficiency Wages    
Chapter 18: Inflation, the Phillips Curve, and Central Bank Commitment    

• 
  Macroeconomics, 3/E
  Williamson
  ©2008 | Prentice Hall | Cloth; 720 pp | Instock
  ISBN-10: 0321416589 | ISBN-13: 9780321416582
  Suggested retail price: $173.33  Buy from myPearsonStoreNet price: $130.00  (What's this?)Brief Description

  

  Williamson’s Macroeconomics uses a thoroughly modern approach that is consistent with the way that macroeconomic research is conducted today. The text builds macroeconomic models from a foundation of microeconomic principles. This methodology prepares students for further study in economics by allowing deeper insight into growth processes and business cycles, integrating the study of macroeconomics with microeconomics, and maintaining consistency with current methods of macroeconomic research.

Exam Copy for Macroeconomics, 4/E
Williamson
©2011 | Prentice Hall | Cloth; 720 pp | Instock
ISBN-10: 0131368788 | ISBN-13: 9780131368781

Instructor's Manual for Macroeconomics (online only), 4/E
Williamson
©2011 | Prentice Hall | On-line Supplement | Estimated Availability : 04/01/2010
ISBN-10: 0131368796 | ISBN-13: 9780131368798

PowerPoint for Macroeconomics (online only), 4/E
Williamson
©2011 | Prentice Hall | On-line Supplement | Estimated Availability : 04/01/2010
ISBN-10: 0131368753 | ISBN-13: 9780131368750

Test Item File for Macroeconomics (online only), 4/E
Williamson
©2011 | Prentice Hall | On-line Supplement | Estimated Availability : 04/01/2010
ISBN-10: 013136880X | ISBN-13: 9780131368804

TestGen for Macroeconomics (online only), 4/E
Williamson
©2011 | Prentice Hall | On-line Supplement | Estimated Availability : 04/01/2010
ISBN-10: 0131368761 | ISBN-13: 9780131368767
This online resource is available at no cost.

Companion Website for Macroeconomics, 4/E
Williamson
©2011 | Prentice Hall | On-line Supplement | Estimated Availability : 04/01/2010
ISBN-10: 0131368818 | ISBN-13: 9780131368811
This online resource is available at no cost.

Study Guide for Macroeconomics, 4/E
Williamson
©2011 | Prentice Hall | Paper; 134 pp | Estimated Availability : 04/01/2010
ISBN-10: 0131368745 | ISBN-13: 9780131368743
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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
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  Macroeconomics, CourseSmart eTextbook, 4/E
  Williamson
  ©2011 | Prentice Hall | Electronic Book; 720 pp | Estimated Availability : 04/01/2010
  ISBN-10: 013136877X | ISBN-13: 9780131368774
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