eBook[PDF]

Econ Macro 6th Edition By William A McEachern

$30.00

✓ Secure checkout

✓ Instant digital download

✓ PDF document

Document details

Pages: 411
File size: 25.71 MB
Format: Digital PDF
Course: Business
Category: eBook[PDF]

About this ebook

The 6th Edition of ECON MACRO by William A. McEachern is structured into 6 primary parts spanning 19 core chapters. Published by Cengage Learning, the textbook blends essential foundational microeconomics concepts with deep dives into national economic frameworks, fiscal and monetary policies, and global markets. [1, 2, 3]

The explicit breakdown of topics covered in each section includes:

Part 1: Introduction to Economics

Chapter 1: The Art and Science of Economic Analysis – The economic problem (scarcity and choice), rational self-interest, marginal analysis, and common analytical pitfalls. [1, 2]
Chapter 2: Economic Tools and Economic Systems – Opportunity cost, specialization, comparative advantage, the production possibilities frontier (PPF), and a comparison of market economies vs. command economies. [1]
Chapter 3: Economic Decision Makers – The roles of households, firms, governments, and the rest of the world in the economic landscape. [1]
Chapter 4: Demand, Supply, and Markets – Market forces, the laws of demand and supply, equilibrium prices, and market shifts. [1]

Part 2: Fundamentals of Macroeconomics

Chapter 5: Introduction to Macroeconomics – Evolution of the national economy, macroeconomic concerns, historical trends, and an overview of aggregate demand and supply.
Chapter 6: Tracking the U.S. Economy – Measuring Gross Domestic Product (GDP), the expenditure and income approaches, accounting for depreciation, and limitations of national income tracking.
Chapter 7: Unemployment and Inflation – Calculating unemployment types (frictional, structural, cyclical), full employment, inflation indexes (CPI), and the social costs of economic instability. [1, 2]

Part 3: Business Cycles and Short-Run Fluctuations

Chapter 8: Productivity and Growth – Determinants of labor productivity, technological change, and rules for long-term economic development.
Chapter 9: Aggregate Demand – Consumption functions, investment components, government purchases, net exports, and the aggregate expenditure multiplier.
Chapter 10: Aggregate Supply – Short-run and long-run aggregate supply curves, labor market dynamics, and actual vs. potential output. [1, 2]

Part 4: Fiscal Policy

Chapter 11: Fiscal Policy – Discretionary fiscal policy, tools to combat unemployment or inflation, automatic stabilizers, and lags in policy execution. [1, 2]
Chapter 12: Federal Budgets and Public Policy – The federal budget process, national deficits vs. surpluses, the accumulating public debt, and the long-term impact of government borrowing. [1, 2]

Part 5: Monetary Policy

Chapter 13: Money and the Financial System – The evolution and functions of money, institutional history of banking, and the structural setup of the Federal Reserve System.
Chapter 14: Banking and the Money Supply – How banks create money, deposit expansion multipliers, and the core tools of Fed monetary regulation.
Chapter 15: Monetary Theory and Policy – The demand and supply of money, interest rate fluctuations, effects on aggregate demand, and quantitative differences between classical and Keynesian views.
Chapter 16: Macro Policy Debate: Active or Passive? – Active policy advocates vs. passive adjustments, the role of expectations (rational vs. adaptive), and the shape of the Phillips Curve over time. [1, 2]

Part 6: International Economics

Chapter 17: International Trade – Autarky vs. free trade, gains from specialization, trade restrictions (tariffs, quotas), and the economics of protectionism.
Chapter 18: International Finance – Balance of payments, exchange rate determination systems (flexible vs. fixed), and international currency markets.
Chapter 19: Economic Development – Emerging vs. developed nations, institutional barriers to growth, foreign aid, and development strategies for transitional economies. [1]