Nelson Higher Education

Higher Education

Macroeconomics: Principles and Policy, 13th Edition

  • William J. Baumol
  • Alan S. Blinder
  • ISBN-10: 1305280601
  • ISBN-13: 9781305280601
  • 464 Pages | Paperback
  • Previous Editions: 2012, 2011, 2009
  • COPYRIGHT: 2016 Published
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About the Product

Take a policy-based approach to teaching introductory economics with Baumol/Blinder's MACROECONOMICS: PRINCIPLES AND POLICY, 13E. Written by two of the most respected economists in the world, this edition is one of the most current economics texts on the market with data drawn from 2014. Significant updates reflect the most recent economic events and policy developments, which the authors skillfully relate to the book's concepts and principles using the right level of rigor and detail. Now this leading text is available with MindTap, a personalized teaching experience that offers relevant readings, videos, animations, activities, and assignments to guide students in analyzing, applying, and improving thinking skills. Aplia®, today's best-selling online homework solution, is also available with new accessibility on mobile devices, improved graphing, new interactive eReader with videos and graphing tutorials, and more. Guide your students in mastering the basic principles of economics with the strong policy-based approach and vivid examples found only in MACROECONOMICS: PRINCIPLES AND POLICY.


  • APLIA SIGNIFICANTLY IMPROVES OUTCOMES BY INCREASING STUDENT EFFORT AND ENGAGEMENT. Developed by teachers and used by more than 1,000,000 students Aplia assignments connect economic concepts to the real world. Aplia requires students to take an active role in the learning process – helping them improve their economic understanding and relate to the economic concepts presented. You can assign homework that is automatically graded and recorded. Aplia's End-of-Chapter feature is now mobile-enabled for your convenience.

  • "BEYOND THE FINAL EXAM" FEATURE REINFORCES CONCEPTS FOR STUDENTS. The popular Ideas for "Beyond the Final Exam" feature is introduced in Chapter 1, and then integrated throughout the text to reinforce important concepts and help students prepare for success on exams and more.

  • CHAPTER-OPENING REAL-LIFE ECONOMIC PUZZLES OR ISSUES LAUNCH INTEREST IN THE CHAPTER'S MATERIAL. These engaging Chapter Openers bring economics into students' everyday lives or reference current events they've read about in today's media. A chapter-opening economic problem is revisited within the body of the chapter, clearly illustrating how the professionals can address the challenge using the chapter's theoretical tools and concepts.

  • UPDATED "POLICY DEBATE" BOXES ENLIVEN CHAPTERS. This edition provides timely, intriguing "Policy Debate" boxes that bring chapter topics to life while opening the way for dynamic classroom discussion.

  • SUMMARIES, REVIEW QUESTIONS, AND KEY TERMS GUIDE STUDENT LEARNING. Each chapter ends with a clear summary and provides key concepts and terms as well as questions and problems for review to help students complete homework and prepare for exams.


"The text is very strong as is. It addresses topics at just the right level of depth/complexity for my students."
— Andrew Pearlman, Bard College

About the Author

William J. Baumol

William J. Baumol received his B.S.S. at the College of the City of New York and his Ph.D. at the University of London. He was professor of economics at New York University and senior research economist and professor emeritus at Princeton University. He was a frequent management consultant to major firms in a wide variety of industries in the United States and other countries as well as to a number of governmental agencies. He was former president of the American Economic Association and three other professional societies. Dr. Baumol served as an elected member of the National Academy of Sciences, created by the U.S. Congress, as well as a member of the American Philosophical Society, founded by Benjamin Franklin. Dr. Baumol authored more than 35 books as well as hundreds of journal and newspaper articles that have been translated into more than a dozen languages.

Alan S. Blinder

Alan S. Blinder earned his B.A. at Princeton University, his M.A. at the London School of Economics and his Ph.D. at MIT. He teaches at Princeton University and most recently authored ADVICE AND DISSENT (Basic Books, 2018), which is about the very different worldviews of economists and politicians—and the consequences of that clash. Dr. Blinder served on President Clinton's first Council of Economic Advisers and then as vice chairman of the Federal Reserve Board, thereby playing a role in formulating both the fiscal and monetary policies of the 1990s. Dr. Blinder, now a regular columnist for The Wall Street Journal, has written newspaper and magazine columns on economic policy for more than thirty years. He is a past vice president and a Distinguished Fellow of the American Economic Association.

Table of Contents

1. What Is Economics?
2. The Economy: Myth and Reality.
3. The Fundamental Economic Problem: Scarcity and Choice.
4. Supply and Demand: An Initial Look.
5. An Introduction to Macroeconomics.
6. The Goals of Macroeconomic Policy.
7. Economic Growth: Theory and Policy.
8. Aggregate Demand and the Powerful Consumer.
9. Demand-Side Equilibrium: Unemployment or Inflation?
10. Bringing in the Supply Side: Unemployment and Inflation?
11. Managing Aggregate Demand: Fiscal Policy.
12. Money and the Banking System.
13. Monetary Policy: Conventional and Unconventional.
14. The Financial Crisis and the Great Recession.
15. The Debate over Monetary and Fiscal Policy.
16. Budget Deficits in the Short and Long Run.
17. The Trade-Off Between Inflation and Unemployment.
18. International Trade and Comparative Advantage.
19. The International Monetary System: Order or Disorder?
20. Exchange Rates and the Macroeconomy.
Appendix: Answers to Odd-Numbered Test Yourself Questions.

New to this edition

  • NEW MINDTAP OFFERS STUDENTS A UNIQUE ONLINE LEARNING PATH. Relevant readings, videos, animations, activities, and assignments move students up the learning taxonomy from basic economic knowledge and comprehension to application, analysis, and critical thinking. In MindTap, students focus on the material that matters most, while staying organized and efficient. You can easily customize what students see and when they see it. Match your syllabus by hiding, rearranging, or adding you own content.
  • EXTENSIVE UPDATES REFLECT TODAY'S MOST RECENT EVENTS AND POLICY DEBATES. This edition's latest U.S. Share of World GDP--It's Nice to Be Rich Box in Chapter 2 is one of many of the book's recent examples.
  • THIS NEW EDITION IS THE ONLY PRINCIPLES OF ECONOMICS BOOK TO REFLECT 2013 YEAR-END DATA. You can ensure your students are learning from the most current information available with the latest economic statistics and information available as this book went to press.
  • UPDATES HIGHLIGHT THE FEDERAL BUDGET DEFICIT AND CONTROVERSY SURROUNDING IT. This new edition emphasizes the latest information on the Federal Budget Deficit and the political battles related to it, including the recent fight over the national debt ceiling.
  • THE LATEST INFORMATION ON THE U.S. DOLLAR KEEPS STUDENTS CURRENT. Updates and new material emphasize the recent behavior of today's US dollar and how it relates to economic principles.


All supplements have been updated in coordination with the Main title.
Please see Main title page for new to this edition information.

Instructor Supplements

Instructor's Companion Website  (ISBN-10: 1305397975 | ISBN-13: 9781305397972)

The Instructor Online Resource Website contains key supplements designed to aid instructors, including the Instructor's Manual, Test Bank (powered by Cognero®), and PowerPoint® lecture and exhibit slides. All supplements are updated to match revisions made to the text.

Cengage Testing, powered by Cognero® Instant Access  (ISBN-10: 1305498496 | ISBN-13: 9781305498495)

Cengage Learning Testing, Powered by Cognero®, is a flexible online system that allows you to author, edit, and manage test bank content. You can create multiple test versions in an instant and deliver tests from your LMS in your classroom.

MindTap Economics, 1 term (6 months) Instant Access for Baumol/Blinder's Macroeconomics: Principles and Policy  (ISBN-10: 1305280660 | ISBN-13: 9781305280663)

MINDTAP ECONOMICS FOR BAUMOL/BLINDER’S PRINCIPLES OF MACROECONOMICS, 13E is a personalized teaching experience with relevant assignments that guide students to analyze, apply, and improve thinking, allowing you to measure skills and outcomes with ease. One of the most current texts on the market that includes data through the spring of 2014, MindTap has been integrated with carefully selected digital media and a tightly constructed homework, assessment, and online reporting system. What’s better is personalized teaching becomes yours through a customizable Learning Path built with key student objectives and your syllabus in mind. Control what students see and when they see it. Relevant readings, multimedia, and activities are designed to take students up the levels of learning, from basic knowledge to analysis and application. Analytics and reports provide a snapshot of class progress, time in course, engagement and completion rates.

Student Supplements

MindTap Economics, 1 term (6 months) Instant Access for Baumol/Blinder's Macroeconomics: Principles and Policy  (ISBN-10: 1305280660 | ISBN-13: 9781305280663)

MindTap Economics for Baumol/Blinder's Macroeconomics: Principles and Policy, 13th Edition provides you with the tools you need to better manage your limited time -- you can complete assignments whenever and wherever you are ready to learn with course material specially customized for you by your instructor and streamlined in one proven, easy-to-use interface. With an array of tools and apps -- from flashcards to note taking -- you'll get a true understanding of course concepts, helping you to achieve better grades and setting the groundwork for your future courses. Access to this product is valid for 6 months of usage.