12181nam 2200553 450 991015494880332120230810000428.01-292-15090-4(CKB)3710000000623272(MiAaPQ)EBC5185714(MiAaPQ)EBC5187762(MiAaPQ)EBC5832353(MiAaPQ)EBC5137503(MiAaPQ)EBC6400896(Au-PeEL)EBL5137503(OCoLC)1017000904(EXLCZ)99371000000062327220190815d2017 uy 0engurcnu||||||||rdacontentrdamediardacarrierPrinciples of macroeconomics /Karl E. Case, Ray C. Fair, Sharon M. OsterTwelfth edition, global edition.Boston :Pearson,2017.1 online resource (481 pages) illustrations (some color), graphs, photographsIncludes index.1-292-15089-0 Cover -- Title Page -- Copyright Page -- Brief Contents -- Contents -- Part I IntroductIon to EconomIcs -- Chapter 1 The Scope and Method of Economics -- Why Study Economics? -- To Learn a Way of Thinking -- To Understand Society -- To Be an Informed Citizen -- The Scope of Economics -- Microeconomics and Macroeconomics -- Economics in Practice iPod and the World -- The Diverse Fields of Economics -- The Method of Economics -- Theories and Models -- Economics in Practice Does Your Part-Time Job Matter for Your Academic Performance? -- Economic Policy -- An Invitation -- Summary -- Review Terms and Concepts -- Problems -- Appendix: How to Read and Understand Graphs -- Chapter 2 The Economic Problem: Scarcity and Choice -- Scarcity, Choice, and Opportunity Cost -- Scarcity and Choice in a One-Person Economy -- Scarcity and Choice in an Economy of Two or More -- Economics in Practice Nannies and Opportunity Costs -- The Production Possibility Frontier -- Economics in Practice Trade-Offs among High and Middle-Income Countries in the Middle East -- The Economic Problem -- Economic Systems and the Role of Government -- Command Economies -- Laissez-Faire Economies: The Free Market -- Mixed Systems, Markets, and Governments -- Looking Ahead -- Summary -- Review Terms and Concepts -- Problems -- Chapter 3 Demand, Supply, and Market Equilibrium -- Firms and Households: The Basic Decision-Making Units -- Input Markets and Output Markets: The Circular Flow -- Demand in Product/Output Markets -- Changes in Quantity Demanded versus Changes in Demand -- Price and Quantity Demanded: The Law of Demand -- Other Determinants of Household Demand -- Economics in PracticE Have You Bought This Textbook? -- Economics in Practice People Drink Tea on Rainy Days -- Shift of Demand versus Movement along a Demand Curve -- From Household Demand to Market Demand.Supply in Product/Output Markets -- Price and Quantity Supplied: The Law of Supply -- Other Determinants of Supply -- Shift of Supply versus Movement along a Supply Curve -- From Individual Supply to Market Supply -- Market Equilibrium -- Excess Demand -- Excess Supply -- Changes in Equilibrium -- Economics in Practice Quinoa -- Demand and Supply in Product Markets: A review -- Economics in Practice Why Do the Prices of Delicacies and Goodies Increase Prior to Chinese New Year? -- Looking Ahead: Markets and the Allocation of Resources -- Summary -- Review Terms and Concepts -- Problems -- Chapter 4 Demand and Supply Applications -- The Price System: Rationing and Allocating Resources -- Price Rationing -- Constraints on the Market and Alternative Rationing Mechanisms -- Economics in Practice Why Do I Have To Pay More For My Food? The Truth Behind The Flood Crises -- Prices and the Allocation of Resources -- Price Floor -- Supply and Demand Analysis: An Oil Import Fee -- Economics in Practice The Price Mechanism at Work for Shakespeare -- Supply and Demand and Market Efficiency -- Consumer Surplus -- Producer Surplus -- Competitive Markets Maximize the Sum of Producer and Consumer Surplus -- Potential Causes of Deadweight Loss From Under-and Overproduction -- Looking Ahead -- Summary -- Review Terms and Concepts -- Problems -- Part II Concepts and Problems in Macroeconomics -- Chapter 5 Introduction to Macroeconomics -- Macroeconomic Concerns -- Output Growth -- Unemployment -- Inflation and Deflation -- The Components of the Macroeconomy -- The Circular Flow Diagram -- The Three Market Arenas -- The Role of the Government in the Macroeconomy -- A Brief History of Macroeconomics -- Economics in Practice Macroeconomics in Literature -- The U.S. Economy Since 1970 -- Summary -- Review Terms and Concepts -- Problems.Chapter 6 Measuring National Output and National Income -- Gross Domestic Product -- Final Goods and Services -- Exclusion of Used Goods and Paper Transactions -- Exclusion of Output Produced Abroad by Domestically Owned Factors of Production -- Calculating GDP -- The Expenditure Approach -- Economics in Practice Where Does eBay Get Counted? -- The Income Approach -- Nominal versus Real GDP -- Economics in Practice GDP: One of the Great Inventions of the 20th Century -- Calculating Real GDP -- Calculating the GDP Deflator -- The Problems of Fixed Weights -- Limitations of the GDP Concept -- GDP and Social Welfare -- The Informal Economy -- Economics in PracticE An alternative to GDP: The Human Development Index -- Gross National Income per Capita -- Looking Ahead -- Summary -- Review Terms and Concepts -- Problems -- Chapter 7 Unemployment, Inflation, and Long-Run Growth -- Unemployment -- Measuring Unemployment -- Economics in Practice Youth Unemployment -- Components of the Unemployment Rate -- Economics in Practice Female Labor Force Participation and Economic Development -- The Costs of Unemployment -- Economics in Practice The Consequences of Unemployment Persist -- Inflation and Deflation -- The Consumer Price Index -- The Costs of Inflation -- Economics in PracticE Chain-Linked Consumer Price Index in the News -- What about Deflation? -- Long-Run Growth -- Output and Productivity Growth -- Looking Ahead -- Summary -- Review Terms and Concepts -- Problems -- Part III The Core of Macroeconomic Theory -- Chapter 8 Aggregate Expenditure and Equilibrium Output -- The Keynesian Theory of Consumption -- Other Determinants of Consumption -- Economics in Practice Behavioral Biases in Saving Behavior -- Planned investment (I) versus Actual Investment -- Planned investment and the interest rate (r) -- Other Determinants of Planned Investment.The Determination of Equilibrium Output (Income) -- The Saving/Investment Approach to Equilibrium -- Adjustment to Equilibrium -- The Multiplier -- Economics in Practice General Motors' Silverado -- The Multiplier Equation -- Economics in Practice The Paradox of Thrift -- The Size of the Multiplier in the Real World -- Looking Ahead -- Summary -- Review Terms and Concepts -- Problems -- Appendix -- Chapter 9 The Government and Fiscal Policy -- Government in the Economy -- Government Purchases (G), Net Taxes (T), and Disposable Income (Yd) -- The Determination of Equilibrium Output (Income) -- Fiscal Policy at Work: Multiplier Effects -- The Government Spending Multiplier -- The Tax Multiplier -- The Balanced-Budget Multiplier -- The Federal Budget -- The Budget in 2014 -- Fiscal Policy since 1993: The Clinton, Bush, and Obama Administrations -- Economics in PracticE Debt, Deficits, and Creative Accounting -- The Federal Government Debt -- The Economy's Influence on the Government Budget -- Automatic Stabilizers and Destabilizers -- Full-Employment Budget -- Looking Ahead -- Summary -- Review Terms and Concepts -- Problems -- Appendix A -- Appendix B -- Chapter 10 Money, the Federal Reserve, and the Interest Rate -- An Overview of Money -- What Is Money? -- Economics in Practice Don't Kill the Birds! -- Commodity and Fiat Monies -- Measuring the Supply of Money in the United States -- How Banks Create Money -- A Historical Perspective: Goldsmiths -- Economics in Practice A Run on the Bank: George Bailey, Mary Poppins, Wyatt Earp -- The Modern Banking System -- The Creation of Money -- The Money Multiplier -- The Federal Reserve System -- Functions of the Federal Reserve -- The Demand for Money -- Interest Rates and Security Prices -- Economics in Practice Professor Serebryakov Makes an Economic Error.How the Federal Reserve Controls the Interest Rate -- Tools Prior to 2008 -- Expanded Fed Activities Beginning in 2008 -- The Federal Reserve Balance Sheet -- Tools After 2008 -- Looking Ahead -- Summary -- Review Terms and Concepts -- Problems -- Appendix -- Chapter 11 The Determination of Aggregate Output, the Price Level, and the Interest Rate -- The Aggregate Supply (AS) Curve -- Aggregate Supply in the Short Run -- Shifts of the Short-Run Aggregate Supply Curve -- The Aggregate demand (AD) Curve -- Planned Aggregate Expenditure and the Interest Rate -- The Behavior of the Fed -- Economics in Practice Central Bankers: Does Personality Matter? -- Deriving the AD Curve -- Economics in Practice Central Banks and Price Stability: What Prices to Look At? -- The Final Equilibrium -- Other Reasons for a Downward-Sloping -- Curve -- The Long-Run AS Curve -- Potential GDP -- Economics in Practice The Simple "Keynesian" Aggregate Supply Curve -- Summary -- Review Terms and Concepts -- Problems -- Chapter 12 Policy Effects and Cost Shocks in the AS/AD Model -- Fiscal Policy Effects -- Fiscal Policy Effects in the Long Run -- Monetary Policy Effects -- The Fed's Response to the Z Factors -- Shape of the AD Curve When the Fed Cares More About the Price Level than Output -- What Happens When There Is a Zero Interest Rate Bound? -- Shocks to the System -- Cost Shocks -- Economics in Practice A Bad Monsoon Season Fuels Indian Inflation -- Demand-Side Shocks -- Expectations -- Monetary Policy since 1970 -- Inflation Targeting -- Looking Ahead -- Summary -- Review Terms and Concepts -- Problems -- Chapter 13 The Labor Market in the Macroeconomy -- The Labor Market: Basic Concepts -- The Classical View of the Labor Market -- The Classical Labor Market and the Aggregate Supply Curve -- The Unemployment Rate and the Classical View.Explaining the Existence of Unemployment.For the one-semester course in Principles of Macroeconomics.   An Introduction to the Functioning of the Economy and the Power and Breadth of Economics Reviewers tell us that Case/Fair/Oster is one of the all-time bestselling Principles of Economics texts because they trust it to be clear, thorough, and complete. Readers of Principles of Macroeconomics, Twelfth Edition come away with a basic understanding of how market economies function, an appreciation for the things they do well, and a sense of things they do poorly. With the latest research and added exercises, students begin to learn the art and science of economic thinking and start to look at some policy and even personal decisions in a different way.     MyEconLab not included. Students, if MyEconLab is a recommended/mandatory component of the course, please ask your instructor for the correct ISBN and course ID. MyEconLab should only be purchased when required by an instructor. Instructors, contact your Pearson representative for more information.   This title is also available with MyEconLab-an online homework, tutorial, and assessment program designed to work with this text to engage students and improve results. Within its structured environment, students practice what they learn, test their understanding, and pursue a personalized study plan that helps them better absorb course material and understand difficult concepts.MacroeconomicsMacroeconomics.338.5Case Karl E.630450Fair Ray C.Oster Sharon M.MiAaPQMiAaPQMiAaPQBOOK9910154948803321Principles of macroeconomics3417497UNINA