Nelson Higher Education

Higher Education


Macroeconomics, 5th Edition

  • Charles I. Jones
  • ISBN-10: 0393417328
  • ISBN-13: 9780393417326
  • 0 Pages | Hardcover
  • COPYRIGHT: 2020 Published
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About the Product

Modern and practical macroeconomics Chad Jones’s Macroeconomics teaches students to think like modern macroeconomists, with strong and engaging growth coverage and a more intuitive approach to models. Praised by adopters for its clear explanations, flexible organization, timely case studies, data, and emphasis on problem solving, Macroeconomics gives students the practical tools they need to understand and analyze the macroeconomy. This innovative text makes macroeconomics less complicated without sacrificing rigor.


  • A flexible approach that engages students with the story of economic growth Jones introduces growth early and thoroughly to engage students with the possibilities and power of macroeconomics. He first gives a thorough and intuitive discussion of the production model and uses this to help students understand differences in GDP across countries. Then in Chapters 5 and 6, he combines the Solow model with complete, accessible coverage of the Romer model, helping students understand growth through innovation. Though Jones covers the long-run early in the text, the table of contents is designed to be flexible. Instructors can choose to teach topics in the order that works best for their students.

  • Explains the short run with a newer and more intuitive model— ISMP Jones uses the less complex but more modern ISMP short-run model that focuses on the Federal Reserve’s role in setting interest rates. Jones also always assumes an open economy to further simplify this approach. Since this model is easier to teach and understand than the more traditional ISLM approach, professors can move more quickly into teaching applications chapters of their choice.

  • Current and relevant, with examples and case material designed to reflect recent events Macroeconomics can be difficult because students can’t “see” it happening like they can with microeconomics. Jones uses current examples, data, and cases to ground these ideas in long-term trends seen in current events.

  • The best text for instructors teaching with an international focus Jones emphasizes the world economy in three ways: early coverage of long-run growth, use of the open economy in the short run, and two chapters at the end of the text on international trade and international finance.

Table of Contents

Part 1 — Preliminaries
1: Introduction to Macroeconomics
2: Measuring the Macroeconomy

Part 2 — The Long Run
3: An Overview of Long-Run Economic Growth
4: A Model of Production
5: The Solow Growth Model
6: Growth and Ideas 
7: The Labor Market, Wages, and Unemployment
8: Inflation

Part 3 — The Short Run
9: An Introduction to the Short-Run 
10: The Great Recession: A First Look
11: The IS Curve
12: Monetary Policy and the Phillips Curve
13: Stabilization Policy and the AS/AD Framework
14: The Great Recession and the Short-Run Model
15: DSGE Models: The Frontier of Business Cycle Research

Part 4 — Applications and Microfoundations
16: Consumption
17: Investment
18: The Government and the Macroeconomy
19: International Trade
20: Exchange Rates and International Finance
21: Parting Thoughts