Essentials of Economics makes this topic relevant by demonstrating how real businesses use economics to make decisions every day.
With an ever-changing US and world economy, the 6th Edition has been updated with the latest developments using new real-world business and policy examples. Regardless of their future career path -- opening an art studio, trading on Wall Street, or bartending at the local pub, students will benefit from understanding the economic forces behind their work. Download Preface. This material is protected under all copyright laws, as they currently exist.
No portion of this material may be reproduced, in any form or by any means, without permission in writing from the publisher. A flexible chapter organization satisfies a variety of approaches to teaching the principles of macroeconomics. Foster thorough understanding via a flexible, student-focused approach. Check out the preface for a complete list of features and what's new in this edition. Consumer Choice and Elasticity. Firms in Perfectly Competitive Markets.
Unemployment and Inflation. Money, Banks, and the Federal Reserve System. Important: To use the test banks below, you must download the TestGen software from the TestGen website. If you need help getting started, read the tutorials on the TestGen site. Access Code Card. Glenn Hubbard, policymaker, professor, and researcher. Hubbard is the dean and Russell L. He received his PhD in economics from Harvard University in He currently serves as co-chair of the nonpartisan Committee on Capital Markets Regulation.
His research has been supported by grants from the National Science Foundation, the National Bureau of Economic Research, and numerous private foundations. He has taught principles of economics for more than 20 years, in both large sections and small honors classes. His research has been supported by grants from government agencies and private foundations. Paper Bound with Access Card.
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Chapter 11 uses a simple neoclassical growth model to explain important growth issues, such as the decline of the Soviet economy, the long-run prospects for growth in China, the implications of the slowdown in productivity growth for the U. Extensive coverage of monetary policy is included in Chapters 15 and Coverage of both the demand-side and supply-side effects of fiscal policy is included in Chapter The text distinguishes between automatic stabilizers and discretionary fiscal policy, and also provides significant coverage of the supply-side effects of fiscal policy.
Discussions of monetary and fiscal policy in Chapters 15 and 16 use only the AD—AS model, making it possible to omit Chapter Extensive international coverage is included throughout the text. Chapters 9, 29, and 30 give students a good understanding of international trading and financial systems, which is essential to understanding the macroeconomy and satisfying their curiosity about the economic world around them.
Additionally, international comparisons are weaved into the narratives of several other chapters, including discussion of labor market policies in Chapter 28 and central banking in Chapter Flexible chapter organization satisfies a variety of approaches to teaching principles of macroeconomics.
Discussion of long-run economic growth in Chapter 10 makes it possible for instructors to omit the more thorough discussion of these issues in Chapter While two chapters are devoted to monetary policy, the first of these—Chapter 15—is a self-contained discussion, so instructors may safely omit the material in Chapter 17 if they so choose.
Finally, instructors may choose to omit all three of the international chapters 7, 18, and 19 , and cover just Chapter 7 on international trade, or cover just Chapter 18, or cover Chapters 18 and 19 while omitting Chapter 7.
A flexibility chart is provided to help select the chapters and order best suited to your classroom needs.
Foster Thorough Understanding via a Flexible, Student-focused Approach An accessible writing style brings concepts to life. Each solved problem includes a problem statement, delineated steps to solve the problem, a graph, and a Your Turn feature that directs students to related end-of-chapter problems for immediate practice. This keeps students focused on the main ideas of each chapter, and prevents them from getting bogged down due to a lack of basic math or word-problem skills.
Approximately two- or three-minutes in length, each video depicts author Glenn Hubbard explaining the key point of the Making the Connection feature and includes engaging visuals, such as new photos or graphs, that are not included in the main book.
These videos summarize key content and bring applications of concepts to life. Animated graphs in MyEconLab accompany the numbered figures in the text, helping students better understand how to analyze and work with graphs.
More dynamic than graphs on a printed page, they help students understand shifts in curves, movements along curves, and changes in equilibrium values. Interactive Solved Problems serve as models of how to solve economic problems by breaking them down step-by-step.
Each of the Solved Problems in the text is accompanied by a similar problem in MyEconLab, so students can practice and build their problem-solving skills. These interactive tutorials help students learn to think like economists and apply basic problem-solving skills to homework, quizzes, and exams. The goal is for students to build skills they can use to analyze real-world economic issues they hear and read about in the news. Students can display a pop-up graph that shows new data plotted in the graph, to better understand how to work with data and understand how including new data affects graphs.
The end-of-chapter problems in select chapters include Real-Time Data Exercises that use the latest data from FRED to help students become familiar with this key data source, learn how to locate data, and develop skills in interpreting data. Question Help. MyEconLab's homework and practice questions are correlated to the textbook. Many are algorithmically generated to give students unlimited opportunity for practice and mastery, and offer helpful feedback when students enter incorrect answers.
Questions include various learning aids like guided solutions and other multimedia assets for extra help at point-of-use. Current News Exercises. Every week, current Macroeconomic news stories, with accompanying exercises, are posted to MyEconLab. Assignable and auto-graded, these multi-part exercises ask students to recognize and apply economic concepts to real-world events.
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Additional order info. Cloth Bound with Access Card. Pearson offers special pricing when you package your text with other student resources. If you're interested in creating a cost-saving package for your students, contact your Pearson rep. We're sorry! We don't recognize your username or password. Economics with MyEconLab makes economics relevant by demonstrating how real businesses use economics to make decisions every day.
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