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This book presents a unified and global view of macroeconomics, enabling students to see the connections between the short-run, medium-run, and long-run. The book is organised in a flexible manner around two central parts: A core and a set of three major extensions. The core provides students with a unified view of macroeconomics; The extensions offers increased depth on the subject matter; and current macroeconomic events are integrated into each chapter of the book within the text and detailed boxes. Each box shows students how they can use what they've learned to get an understanding of economics in the real-world. It offers an underlying model that draws the implications of equilibrium in three sets of markets: the goods market, the financial markets and the labour market. Features two chapters, "The crisis" and "Monetary policy" provide updated information. Focus boxes convey the life of macroeconomics today and reinforce the lessons from the models, making them more concrete and easier to grasp. South African data, examples and terminology are meaningfully integrated throughout the text. The chapter on exchange rates provides an accessible treatment of the topic, reinforcing an understanding of the concepts with South Africa in mind. Content on inflation, activity and nominal money growth from the 5th edition has been integrated into chapter 8.
This South African edition of Macroeconomics is essential reading for all students taking introductory economics modules on undergraduate courses throughout South Africa. It is also ideal for use with the macroeconomics component of MBA courses. The text contains updated case studies, set against a South African context to illustrate how the principles of economics relate to your life. The news articles are based on news events in South Africa along with questions to help you apply your knowledge and to build your understanding. This text is designed to give you the confidence and ability to think like an economist.
The excitement of learning economics for the first time. The experience of a lifetime of teaching it. The eighth edition of Exploring Economics captures the excitement of learning economics for the first time through a lively and encouraging narrative that connects economics to the world in a way that is familiar to students. Author Robert L. Sexton draws on over 25 years of teaching experience to capture students' attention, focusing on core concepts and expertly weaving in examples from current events and popular culture to make even classic economic principles modern and relatable. The text sticks to the basics and applies a thoughtful learning design, segmenting its presentation into brief, visually appealing, self-contained sections that are easier for students to digest and retain compared to sprawling text. Thoughtfully placed section quizzes, interactive summaries, and problem sets help students check their comprehension at regular intervals and develop the critical thinking skills that will allow them to "think like economists." Combined with a complete teaching and learning package including online homework and flexible teaching options, Exploring Economics is sure to help you ignite your students' passion for the field and reveal its practical application in the world around them. Available with Courseware with Algorithmic Assignments SAGE amp is dynamic courseware solution that integrates SAGE textbook content with auto-graded algorithmic assignments, exclusive video content, and other learning tools and resources. Easy LMS Import SAGE coursepacks for instructors makes it easy to import our quality instructor and student resource content into your school's learning management system (LMS). Learn more. Online Resources SAGE edge for students, the companion website specifically designed for this text, offers a robust online environment with the learning tools and resources students need to succeed. Learn more.
How does the South African economy work? Why do macroeconomic variables change? So what if they do? What happens next? How do economic processes and policy institutions really work? Which data must I use? What can policy do? And then the big questions: How can we reduce unemployment and maintain low inflation? What then about poverty, inequality, inclusive growth and development in South Africa?
The answers are found in How to think and reason in Macroeconomics – A South African text, a popular university textbook with very positive feedback from students, lecturers and practitioners. This fifth edition is completely up-to-date and comprehensive. It combines well-informed intuitive understanding with solid economic theory plus a concrete understanding of South African economic issues, processes, institutions and data. In this way it prepares you to analyse macroeconomic events and policies in a globalised and development context – and understand different perspectives in policy and political-economic debates.
Macroeconomics: Understanding the Global Economy, 3rd Edition is to help students and indeed anyone understand contemporary and past economic events that shape the world we live in, and at a sophisticated level. But it does so without focusing on mathematical techniques and models for their own sake. Theory is taken seriously so much so that the authors go to pains to understand the key aspects of theories in a way that will not put people off before they see how theories are useful to analyse issues. The authors believe that theories are essential to better understand the world, thus the book includes a wealth of historic and current episodes and data to both see how theories can help interpret the world and also to judge their validity. Economies today are very inter-connected; what happens in China matters pretty much everywhere; and what happens in one (even small) country in the euro zone has implications for the whole euro area and beyond, consequently Macroeconomics, 3rd Edition adopts a very international focus.
The book provides a thorough but concise exposure to macroeconomics to post school students as well as those studying economics for the first time. Following an introduction that gives an overview of macroeconomics as well as a brief discussion of the main macroeconomic problems that societies face, the book then looks at national income accounting and economic performance. The book looks at the unemployment problem. There is also a discussion of aggregate supply and demand theory, and the role of that theory in explaining the determinants of aggregate economic output and employment. The problem of inflation and is also discussed. The reality that the economies of most countries are interconnected with that of the rest of the world is discussed under open-economy. The book then discusses economic growth in both the short-run and the long run.
Now firmly established as one of the leading economics principles texts in the UK and Europe, this exciting, new fifth edition of Macroeconomics by N. Gregory Mankiw (Harvard University) and Mark P. Taylor (Washington University), has been fully updated. Much revered for its friendly and accessible approach, emphasis on active learning, and unrivalled support resources, this edition also has an improved structure to ensure the text aligns even more closely with the latest courses. The new edition incorporates additional coverage of a number of key topics including the future of the European Union, the post-Financial crisis world, and macroeconomic policy issues. This title is available with MindTap for Economics, a flexible online learning solution that provides students with all the tools they need to succeed including an interactive eReader, engaging multimedia, practice questions, assessment materials, revision aids, and analytics to help you track their progress.
THE TOP TEN BESTSELLER From the bestselling author of The Black Swan, a bold book that challenges many of our long-held beliefs about risk and reward, politics and religion, finance and personal responsibility Why should we never listen to people who explain rather than do? Why do companies go bust? How is it that we have more slaves today than in Roman times? Why does imposing democracy on other countries never work? The answer: too many people running the world don't have skin in the game. In his inimitable, pugnacious style, Nassim Nicholas Taleb shows that skin in the game applies to all aspects of our lives. It's about having something to lose and taking a risk. Citizens, lab experimenters, artisans, political activists and hedge fund traders all have skin in the game. Policy wonks, corporate executives, theoreticians, bankers and most journalists don't. As Taleb says, "The symmetry of skin in the game is a simple rule that's necessary for fairness and justice, and the ultimate BS-buster," and "Never trust anyone who doesn't have skin in the game. Without it, fools and crooks will benefit, and their mistakes will never come back to haunt them".
There is no better guide than Paul Krugman to basic economics, the ideas that animate much of our public policy. Likewise, there is no better foe of zombie economics, the misunderstandings that just won't die. Arguing with Zombies is Krugman "the most hated and most admired columnist in the US" (Martin Wolf, Financial Times) at his best, turning readers into intelligent consumers of the daily news with quick, vivid sketches of the key concepts behind taxes, health care, international trade and more. In this new book, in which he builds on and expands his The New York Times columns and other writings, "the most celebrated economist of his generation" (The Economist), offers short, accessible chapters on topics including the European Union and Brexit, the fight for national health care in the United States, the financial meltdown of 2007-2008, the attack on Social Security and the fraudulent argument-the ultimate zombie-that tax cuts for the rich will benefit all.
The global financial crisis in 2008 brought central banking to the centre stage, prompting questions about the role of national central banks and - in Europe - of the multi-country European Central Bank. What can central banks do, and what are their limitations? How have they performed? Currency, Credit and Crisis seeks to provide a coherent perspective on the functions of a central bank in a small country by assessing the way in which Ireland's financial crisis from 2010 to 2013 was handled. Drawing on his experiences as Governor of the Central Bank of Ireland and in research and policy work at the World Bank, Patrick Honohan offers a detailed analytical narrative of the origins of the crisis and of policy makers' conduct during its most fraught moments.
Now you can truly visualize economics with the most student-friendly economics text on the market: Irvin Tucker's MACROECONOMICS FOR TODAY, 9E. Written by a national award-winning educator, MACROECONOMICS FOR TODAY clearly presents concepts using a writing style that is engaging and clear, no matter what your current level of economic understanding. A unique textual and visual learning system, colorful graphs, and causation chains clarify concepts. The book concisely presents and reinforces core concepts, then gives opportunities to immediately assess your comprehension. You study the latest economic information on economic growth, income distribution, federal deficits, environmental issues, and other developments in economics today with an engaging, easy-to-follow format that applies principles to everyday life. Numerous printed and online study tools, including a companion website, help you further master key principles in economics today.
In the wake of the 2016 U.S. presidential election, investors and the electorate alike are seeking clarity on a wide range of macro policy issues that will impact the economy and markets in the years ahead. The primary goal of this book is to provide an objective source for investors to learn about economic policy issues that surfaced. Topics include long-term growth, the federal budget deficit, healthcare reform, tax reform, regulatory policies affecting the financial system and environment, the nexus of monetary, exchange rate and trade policies, and globalization. The book explains how these issues have evolved, considers arguments from both sides of the political divide, and draws upon evidence from studies by experts in the respective areas. A related goal is to assess the likely impact of economic policies on financial markets. While the presidential election was close, the markets' response was decisive: U.S. and global equity markets went on a tear as consumer and business confidence soared. This surprised many investors who believed a Trump victory would be bad for financial markets. It also caused many to question whether expectations embedded in markets were too optimistic. Sargen's assessment is presented in the opening and concluding chapters.
This title should be seen as the first building block of any Economics course. The content is organised in such a manner as to proceed logically towards an understanding of macroeconomics. Having studied the title, the student will know what the repo rate, the CPIX, and core inflation are. The student will understand how government debt originates, how it is financed, what its impact on financial markets is, and much more. This title serves as a reference on which students can fall back in years to come and it will stimulate an interest in economics.
A Great Deal of Ruin provides an accessible introduction to the enduring problem of financial crises. Illustrated with historical analysis, case studies, and clear economic concepts, this book explains in three parts what financial crises are, how they are caused and what we can learn from them. It begins with a taxonomy of crises and a list of factors that increase the risk for countries experiencing a financial crisis. It then examines five of the most important crises in modern economic history, beginning with the Great Depression and ending with the subprime crisis in the United States and its evolution into a debt crisis in the Eurozone. The book concludes with a set of lessons that can be learnt from the crises of the past. It will appeal to university students as well as general readers who are curious to learn more about the recent subprime crisis and other financial crises.
Your Survival Guide to the Next Financial Storm
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About the Book:
The next financial disaster is around the corner. Are you prepared?
With the nation's deficit expanding into the trillions of dollars, investors need to be prepared for the inevitable--and potentially devastating--fallout. Most economists agree that interest rates will rise, inflation will likely be higher, and virtually every aspect of our economy will be affected. Smart investors need to ask themselves: "How should I invest today to survive the storm tomorrow?"
The answer is in this brilliantly calculated, forward-thinking investment guide from Black-Rock strategist Russ Koesterich. He'll show you exactly what to expect in the new deficit economy--and how to handle your finances smartly, safely, and securely . . . Stocks and Bonds How to Invest in a Rising Rate Environment Real Estate How the Deficit Will Affect the Market Commodities The Benefits of Owning Real Assets Portfolio Management What You Should Do Before It's Too Late
More than a collection of fascinating financial predictions, "The Ten Trillion Dollar Gamble" offers solid advice on a wide range of investment options. You'll discover which markets are hot--and which are not--when the storm finally hits.
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A comprehensive examination of policy measures intended to help emerging markets contend with large and volatile capital flows. While always episodic in nature, capital flows to emerging market economies have been especially volatile since the global financial crisis. After peaking at $680 billion in 2007, flows to emerging markets turned negative at the onset of crisis in 2008, then rebounded only to recede again during the U.S. sovereign debt downgrade in 2011. Since then, flows have continued to swing wildly, leaving emerging market policy makers wondering whether they can put in place policies during the inflow phase that will soften the blow when flows subsequently recede. This book offers the first comprehensive treatment of policy measures intended to help emerging markets contend with large and volatile capital flows. The authors, all IMF experts, explain that, in the spirit of liberalization and deregulation in the 1980s and 1990s, many emerging market governments eliminated capital inflow controls along with outflow controls. By 2012, however, capital inflow controls were again acknowledged as legitimate policy tools. Focusing on the macroeconomic and financial-stability risks associated with capital flows, the authors combine theoretical and empirical analysis to consider the interaction between monetary, exchange rate, macroprudential, and capital control policies to mitigate these risks. They examine the effectiveness of various policy tools, discuss the practical considerations and multilateral implications of their use, and provide concrete policy advice for dealing with capital inflows.
From Nobel Prize-winning economist and bestselling author Joseph Stiglitz, this account of the dangers of free market fundamentalism reveals what has gone so wrong, but also shows us a way out. We all have the sense that our economy tilts toward big business, but as Joseph E. Stiglitz explains in People, Power and Profits, a few corporations have come to dominate entire sectors, contributing to skyrocketing inequality and slow growth. This is how the financial industry has managed to write its own regulations, tech companies have accumulated reams of personal data with little oversight, and government has negotiated trade deals that fail to represent the best interests of workers. Too many have made their wealth through exploitation of others rather than through wealth creation. If something isn't done, new technologies may make matters worse, increasing inequality and unemployment. Stiglitz identifies the true sources of wealth and increases in standards of living, based on learning, advances in science and technology, and the rule of law. He shows that the assault on the judiciary, universities, and the media undermines the very institutions that have long been the foundation of economic prosperity and democracy. Helpless though we may feel today, we are far from powerless. In fact, the economic solutions are often quite clear. We need to exploit the benefits of markets while taming their excesses, making sure that markets work for people and not the other way around. If enough rally behind this agenda for change, we can create a progressive capitalism that will recreate a shared prosperity. Stiglitz shows how a decent middle-class life can once again be attainable by all.
Betsey Stevenson and Justin Wolfers present a new synthesis of economic principles for a new generation of students. Their focus on useful economics employs compelling explanations and real-life examples to help students develop economic intuition and apply it to everyday decisions. The authors provide a fresh take on a wide range of principles topics and 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. In Principles of Macroeconomics, students will learn how the basic tools of economics can be applied to decisions that range from personal and professional goals to public policy and the broader economy. Combining fundamental theory with modern applications, familiar examples, and plenty of opportunities to practice using economic tools, Principles of Macroeconomics helps students to develop economic insight. Principles of Macroeconomics is available with SaplingPlus online learning system. Our integrated, online learning system combines powerful multimedia resources with an integrated e-Book, robust homework, and a wealth of interactives, creating an extraordinary new learning resource for students. Key features include: Online homework helps students get better grades with targeted instructional feedback tailored to the individual. Step-by-Step graphs break complex graphs and other figures into their component parts to help students understand how graphs are built and what they represent. Captions on each step help the students to understand what's happening as the figures change. Decision Points allow students to explore their own decision-making process and how economic principles and thinking can inform their decisions. Students work step-by-step through decision-making scenarios, receiving feedback about how the economic principles did (or did not) play into their choices. Decision Points help students apply economic insights to their everyday lives. Find out more about SaplingPlus at www.macmillanihe.com/sapling.
"Really up-to-date...gives a fantastic overview of the financial crisis" Fabian Kreutzer, University of Applied Science Niederrhein, Germany "Extensive references to and content regarding crises. It's really amazing" Yioryos Georgios Makedonis, Queen Mary University of London Using real-world case studies and examples, this comprehensive text offers intermediate and applied macroeconomics students a truly European and global perspective. Continuing to successfully combine theory with application, Macroeconomics has been fully updated in this fifth edition to keep students up-to-date with the ever changing macroeconomic environment we are experiencing today. This book presents macroeconomics as an applied science designed to improve our understanding of current and past policy issues. The unique mix of theory, analysis and policy issues takes students from macroeconomic basics to cutting-edge research topics Includes case studies addressing major policy issues in detail, supported by a wealth of economic data Moves beyond standard intermediate macroeconomics content by discussing liquidity traps, quantitative easing, price bubbles, multiple equilibria, self-fulfilling prophecy, ratings agencies, debt brakes and austerity Self quizzes, road map, glossary and other content also available for mobile devices Visit www.pearsoned.co.uk/gartner for a comprehensive companion website featuring interactive macroeconomic models equipped with guided exercises, state of the art data display and analysis, quizzes and more.
Why the United States has developed an economy divided between rich and poor and how racism helped bring this about. The United States is becoming a nation of rich and poor, with few families in the middle. In this book, MIT economist Peter Temin offers an illuminating way to look at the vanishing middle class. Temin argues that American history and politics, particularly slavery and its aftermath, play an important part in the widening gap between rich and poor. Temin employs a well-known, simple model of a dual economy to examine the dynamics of the rich/poor divide in America, and outlines ways to work toward greater equality so that America will no longer have one economy for the rich and one for the poor. Many poorer Americans live in conditions resembling those of a developing country-substandard education, dilapidated housing, and few stable employment opportunities. And although almost half of black Americans are poor, most poor people are not black. Conservative white politicians still appeal to the racism of poor white voters to get support for policies that harm low-income people as a whole, casting recipients of social programs as the Other-black, Latino, not like "us." Politicians also use mass incarceration as a tool to keep black and Latino Americans from participating fully in society. Money goes to a vast entrenched prison system rather than to education. In the dual justice system, the rich pay fines and the poor go to jail.
The Selected Letters of John Kenneth Galbraith invites readers to join in conversations with presidents and first ladies, diplomats and schoolchildren, the McCarthy 'loyalty board', foreign heads of state and fellow economists, and a host of other correspondents. In his long and cosmopolitan life, Galbraith wrote thousands of letters, and Richard P. F. Holt has selected the most important of these from his archival research, now available in print for the first time. The letters provide an intimate account of the three main political goals to which Galbraith devoted his professional life: ending war, fighting poverty, and improving quality of life by achieving a balance between private and public goods in an affluent capitalist society. Showing his thoughtful insights and charming wit, this collection confirms Galbraith as a man of broad learning, superb literary skills, and deeply held progressive ideals.
Economics Today: Macro View-Bringing the Real World to Your Students For a complete multimedia book tour of Miller, Economics Today, 17e, Click Here. For a look at the Supply & Demand Chapter of this title, Click Here. Students learn best when they see concepts applied to examples from their everyday lives. This new edition of Economics Today: Macro View covers leading-edge issues while lowering barriers to student learning. The text relentlessly pursues the fundamental objective of showing students how economics is front and center in their own lives while providing them with many ways to evaluate their understanding of key concepts covered in each chapter. Each chapter begins and ends with an Issues and Applications feature, which introduces a timely issue in the chapter opener and analyzes the issue using the economic tools learned in that chapter at the end. This text is also available with MyEconLab (R), which includes assessment questions that tie to these Issues and Applications, as well as ABC News video clips. With MyEconLab, students can continue working problems online and receive personalized tutorial resources. Visit MyEconLab for more information.
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