Macroeconomics 2008-2009 Update Edition plus MyEconLab One-semester Student Access Kit

Students often struggle to see how macroeconomic models compare to one another and fit into the big picture. Using a unified approach based on a single economics model, Abel, Bernanke, and Croushore provide a balanced, comprehensive treatment of classical and Keynesian economics, presenting macroeconomic theory in a way that prepares students to analyze real macroeconomic data. TheSixth Edition Updatecorrelates sixteen key chapter topics with resource material including speeches, reports, or testimony, most from the Federal Reserve Board. Questions at the end of each topic discussion demonstrate how macroeconomic theory has direct implications on todayrs"s economic policies. Introduction:Introduction to Macroeconomics; The Measurement and Structure of the National Economy.Long-Run Economic Performance:Productivity, Output, and Employment; Consumption, Saving, and Investment; Saving and Investment in the Open Economy; Long-Run Economic Growth; The Asset Market, Money, and Prices.Business Cycles and Macroeconomic Policy:Business Cycles; TheIS-LM/AD-ASModel: A General Framework for Macroeconomic Analysis; Classical Business Cycle Analysis: Market-Clearing Macroeconomics; Keynesianism: The Macroeconomics of Wage and Price Rigidity.Macroeconomic Policy: Its Environment and Institutions:Unemployment and Inflation; Exchange Rates, Business Cycles, and Macroeconomic Policy in the Open Economy; Monetary Policy and the Federal Reserve System; Government Spending and Its Financing. For all readers interested in macroeconomics.

I. INTRODUCTION 1. Introduction to Macroeconomics 2. The Measurement and Structure of the National Economy Federal Reserve Board Speech: The Fed s Preferred Inflation Measures II. LONG-RUN ECONOMIC PERFORMANCE 3. Productivity, Output, and Employment 4. Consumption, Saving, and Investment Federal Reserve Board Speech: How Consumers Respond to Tax Rebates 5. Saving and Investment in the Open Economy Federal Reserve Board Speech: Outsourcing and Globalization 6. Long-Run Economic Growth 7. The Asset Market, Money, and Prices Federal Reserve Board Speech: The Term Structure Conundrum Federal Reserve Board Speech: How Consumers Choose Payment Methods III. BUSINESS CYCLES AND MACROECONOMIC POLICY 8. Business Cycles Federal Reserve Board Speech: Changes in the Hiring Rate in Recessions Federal Reserve Board Speech: The Housing Bubble of the 2000s and How It Burst in 2007 Federal Reserve Board Speech: Why Is Economic Volatility So Low? 9. The IS-LM/AD-AS Model: A General Framework for Macroeconomic Analysis 10. Classical Business Cycle Analysis: Market-Clearing Macroeconomics 11. Keynesianism: The Macroeconomics of Wage and Price Rigidity IV. MACROECONOMIC POLICY: ITS ENVIRONMENT AND INSTITUTIONS 12. Unemployment and Inflation 13. Exchange Rates, Business Cycles, and Macroeconomic Policy in the Open Economy Federal Reserve Board Speech: Reversal of the U.S. Trade Deficit Federal Reserve Board Speech: China s Exchange Rate 14. Monetary Policy and the Federal Reserve System Federal Reserve Board Speech: The Fed s Expanded Forecasts Federal Reserve Board Speech: The Fed and Inflation Targeting Federal Reserve Board Speech: How Revisions to Inflation Data Affect Monetary Policy 15. Government Spending and Its Financing Federal Reserve Board Speech: Marginal Tax Rates on Labor Federal Reserve Board Speech: Comparing Tax Systems: the U.S. versus Other Countries Federal Reserve Board Speech: Trends in Tax Rates