Principles of Macroeconomics, 12e

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. 

Features 

• Spotlights Recent Research 
• New! Chapter 3 uses behavioral economics to answer whether having rainy seasons increases a consumer’s preference for tea. 
• New! Chapter 6 looks at how imposing taxes on soda beverages affects consumption. 
• New! Chapter 7 describes the importance of better maintenance practices in increasing profitability while curtailing capital investment. 
• New! Chapter 14 describes recent research on how well recessions can be predicted. 
• New! Chapter 20 looks at work that uses children’s height in India to examine hunger and gender inequality.
• New! Chapter 21 (brand new) contains three boxes that examine the Moving to Opportunity program, control group and experimental economics and the effects of minimum wage. 
• A History of Excellence in Economic Content and Application News Analysis features real news articles from The Wall Street Journal, The New York Times, The Economist and others, strategically integrated into the text. 
• The authors have also added homework problems for News Analysis articles at the end of the chapter. Incorporation of international examples and applications includes discussion of: 
• • The many countries that contributed to creating the iPod (Chapter 1).
  • How UPS is using technology to speed worldwide delivery (Chapter 7).
  • How high speed trains in Europe benefit travelers, the environment and the economies of communities served (Chapter 10).
• The world economy (Chapters 20 and 21). 
• A three-tiered explanation of key concepts (Stories-Graphs-Equations) is presented. 
• Each concept is presented in the context of a simple intuitive story often followed by a table or graph and in some cases, an equation that presents the concept with a mathematical formula. 
• Updated! End-of-chapter material delivers questions designed to help individuals learn course concepts and help instructors assess student performance. 

Table of Contents

•  Part I: Introduction To Economics 
• • 1. The Scope and Method of Economics 
  • 2. The Economic Problem: Scarcity and Choice 
  • 3. Demand, Supply and Market Equilibrium 
  • 4. Demand and Supply Applications 
• Part II: Concepts and Problems in Macroeconomics 
• • 5. Introduction to Macroeconomics 
  • 6. Measuring National Output and National Income 
  • 7. Unemployment, Inflation and Long-Run Growth 
• Part III: The Core of Macroeconomic Theory 
• • 8. Aggregate Expenditure and Equilibrium Output 
  • 9. The Government and Fiscal Policy 
  • 10. Money, the Federal Reserve and the Interest Rate 
  • 11. The Determination of Aggregate Output, the Price Level and the Interest Rate 
  • 12. Policy Effects and Cost Shocks in the AS/AD Model 
  • 13. The Labour Market in the Macro economy Part IV: Further Macroeconomics Issues 
  • 14. Financial Crises, Stabilization and Deficits 
  • 15. Household and Firm Behaviour in the Macro economy: A Further Look 
  • 16. Long-Run Growth 
  • 17. Alternative Views in Macroeconomics 
• Part V: The World Economy 
• • 18. International Trade, Comparative Advantage and Protectionism 
  • 19. Open-Economy Macroeconomics: The Balance of Payments and Exchange Rates 
  • 20. Economic Growth in Developing Economies 
• Part VI: Methodology 
• • 21. Critical Thinking about Research.