Nelson Higher Education

Higher Education

Macroeconomics: A Contemporary Introduction, 11th Edition

  • William A. McEachern
  • ISBN-10: 1305505492
  • ISBN-13: 9781305505490
  • 472 Pages | Paperback
  • Previous Editions: 2014, 2012, 2009
  • COPYRIGHT: 2017 Published
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About the Product

Now you can "teach by example" with the unique approach to economics found only in McEachern's acclaimed MACROECONOMICS: A CONTEMPORARY INTRODUCTION, 11E. The text uses examples and illustrations that your students will recognize when they show up for class the first day, because they already have at least 17 years of personal experience with economic choices, institutions, and events. This book truly leads by example, taking a "just-in-time" approach that introduces material just as it is needed to develop an argument. Clear and interesting exposition combines with case studies, recent research findings, and a focused design. Relevant case studies are integrated into the flow of each chapter. Each chapter includes a one-page case study in the printed book as well as a second case study online. The book's well-crafted approach is enhanced with resources, such as Aplia® and MindTap, that help improve student understanding and help you streamline tasks and save valuable time.


  • BOOK IS FULLY INTEGRATED WITH APLIA®, THE MOST SUCCESSFUL ONLINE PRODUCT FOR ECONOMICS. Aplia® offers interactive tools to help better prepare macroeconomics students. For you, the instructor, Aplia® provides access to high-quality, auto-graded assignments that ensure your students put forth effort on a regular basis throughout the term.

  • MINDTAP® OFFERS A PERSONALIZED TEACHING EXPERIENCE THAT GUIDES STUDENTS IN ANALYZING, APPLYING, AND IMPROVING THINKING. Measure skills and outcomes with ease. Personalized teaching becomes yours through a 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 take students from basic knowledge to analysis and application. Analytics and reports provide a snapshot of class progress, time in course, engagement and completion rates.

  • CLEAR, COLOR-CODED GRAPHS ENHANCE UNDERSTANDING. Special care has been taken to ensure all graphics are understandable with curves that are systematically color-coded to enhance student understanding.

  • "TO REVIEW" ENSURES STUDENT COMPREHENSION. These helpful sections sum up lengthy concepts. Brief one-sentence questions, inserted into the flow of the text, make certain that students comprehend the macroeconomic concepts they're studying and are ready to continue through the material.

  • MCEACHERN LEADS BY EXAMPLE. The author introduces each macroeconomic idea by using common everyday student experiences to bridge the gap between what students already know and the unfamiliar world of economics.

  • "CHECKPOINT QUESTIONS" HELP ASSESS RECALL. After each major section, your students are asked a key "Checkpoint Question" to help evaluate how well they recall and understand what they just read.

  • END-OF-CHAPTER QUESTIONS AND PROBLEMS ARE CLEARLY IDENTIFIED BY CHAPTER CONCEPTS. These questions and problems that correspond with major concepts give you flexibility for easier assignments while helping students find the specific material they need to review if a question or problem gives them difficulty.


"MindTap puts practice questions in a format that works well for me."
— Student, Franciscan University of Steubenville

About the Author

William A. McEachern

Dr. William A. McEachern began teaching large sections of economic principles shortly after joining the University of Connecticut. Several years later he began offering teaching workshops around the country. The University of Connecticut Alumni Association conferred on him its Faculty Excellence in Teaching Award in 2000. He earlier won the Association's award for Distinguished Public Service. Dr. McEachern has published books and monographs on public finance, public policy, and industrial organization, including MANAGERIAL CONTROL AND PERFORMANCE (D.C. Heath and Company). His research has also appeared in edited volumes, such as READINGS IN PUBLIC CHOICE ECONOMICS (University of Michigan Press), INTERNATIONAL HANDBOOK ON TEACHING AND LEARNING ECONOMICS (Edward Elgar Publishing), and RETHINKING ECONOMIC PRINCIPLES (Irwin Publishing), He has also published in a variety of refereed journals, including Economic Inquiry, National Tax Journal, Quarterly Review of Economic and Business, Journal of Industrial Economics, Kyklos, Econ Journal Watch, and Public Choice. His principles of economics textbooks have been translated into Spanish, Chinese, and Bahasa Indonesia, and have been adapted for Australia and for India. He is the founding editor of THE TEACHING ECONOMIST, a newsletter that for a quarter of a century has focused on teaching economics at the college level. Dr. McEachern has advised federal, state, and local governments on policy matters and has been quoted in media such as the New York Times, Times of London, Wall Street Journal USA Today and Reader's Digest. He, earned an undergraduate degree with honors from College of the Holy Cross, served three years as a U.S. Army officer, and earned an M.A. and Ph.D. in economics from the University of Virginia.

Table of Contents

1 .The Art and Science of Economic Analysis.
2. Some Tools of Economic Analysis.
3. Economic Decision Makers.
4. Demand, Supply, and Markets.
5. Introduction to Macroeconomics.
6. Tracking the U. S. Economy.
7. Unemployment and Inflation.
8. U.S. Productivity and Growth.
9. Aggregate Demand.
10. Aggregate Supply.
11. Fiscal Policy.
12. Federal Budgets and Public Policy.
13. Money and the Financial System.
14. Banking and the Money Supply.
15. Monetary Theory and Policy.
16. The Policy Debate: Active or Passive?
17. International Trade.
18. International Finance.
19. Economic Development.

New to this edition

  • THE MOST RECENT EXAMPLES AND RELEVANT, SUPPORTING RESEARCH KEEP STUDENTS ENGAGED. To help your students better understand macroeconomic concepts, updates to examples and research published since the previous edition went to press are presented in simple, clear language. All examples keep economic material engaging and relevant to your students' lives. Brief definitions, section titles, exhibit titles, and captions are direct and to the point to keep students' attention.
  • OVERARCHING THEME HIGHLIGHTS THE IMPACT OF TECHNOLOGY IN ALL ASPECTS OF ECONOMIC LIFE. From Spotify or the price elasticity of e-books to smart apps for tracking fitness and nutrition or the effect of the Internet on labor productivity, this edition discusses how technological developments directly impact production, employment, sales, and consumption.
  • EMPHASIS ON TODAY'S MOST RECENT RESEARCH REINFORCES KEY ECONOMIC PRINCIPLES. This edition draws on recent research to stimulate your students' interest, to reinforce macroeconomic principles, and, in a few cases, to offer an alternative perspective. The edition cites and discusses more than 150 studies published after the previous edition went to press. The author has selected these studies from his review of more than a thousand relevant publications.
  • NEW TOPICS INTRODUCE FRESH MACROECONOMICS PERSPECTIVES. Students examine how some not-for-profit hospitals employ more people than some major corporations (Ch. 3); how job loss can negatively impact health because unemployed smoke more cigarettes (Ch. 7); and how better know-how can increase output (Chs. 2, 8). You also learn how pawn shops have grown by 50 percent since 2008's financial crisis (Ch. 13); and how developing economies present challenges for franchise operators, such as KFC (Ch. 19).
  • NEW PROGRESSION GRAPHS ONLINE SOFTWARE HELPS CLARIFY UNDERSTANDING. Students can now build the more challenging graphs in the book one step at a time using the book's new online software, Progression Graphs.


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

Instructor Supplements

Cengage Testing, powered by Cognero® Instant Access  (ISBN-10: 1305505522 | ISBN-13: 9781305505520)

Cengage Learning Testing, powered by Cognero®, is a flexible, online system that allows you to import, edit, and manipulate content from the text's test bank or elsewhere, including your own favorite test questions. Create multiple test versions in an instant and deliver tests from your LMS, your classroom, or wherever you want.

MindTap Economics, 1 term (6 months) Instant Access for McEachern's Macroeconomics: A Contemporary Introduction  (ISBN-10: 1305650107 | ISBN-13: 9781305650107)

MindTap Economics for McEachern's Macroeconomics: A Contemporary Introduction, 11th Edition is the digital learning solution that powers students from memorization to mastery. It gives you complete control of your course—to provide engaging content, to challenge every individual, and to build their confidence. Empower students to accelerate their progress with MindTap. MindTap: Powered by You. MindTap gives you complete ownership of your content and learning experience with interactive exhibits and videos supporting the student's understanding of key economics concepts. Unique tools support mastery of economics going into the test. Customize the interactive syllabi, emphasize the most important topics, and add your own material or notes in the eBook.

Student Supplements

MindTap Economics, 1 term (6 months) Instant Access for McEachern's Macroeconomics: A Contemporary Introduction  (ISBN-10: 1305650107 | ISBN-13: 9781305650107)

MindTap Economics for McEachern’s Macroeconomics: A Contemporary Introduction, 11th Edition helps you learn on your terms. INSTANT ACCESS IN YOUR POCKET. Take advantage of the MindTap Mobile App. Read or listen to the text and study with the aid of instructor notifications, flashcards, and practice quizzes. MINDTAP HELPS YOU GEAR UP FOR ULTIMATE SUCCESS. Track your scores so you’ll know where to focus efforts. Stay motivated toward goals with study tools, such as Adaptive Test Prep, a powerful resource that let you create unlimited practice tests across chapters. You stay engaged with real-world assignments that leverage your tacit experience with economic choices, economic institutions, and economic events. MINDTAP HELPS YOU MAKE THE TEXTBOOK YOURS. No one knows what works for you better than you. Highlight key text, add notes, and create custom flashcards to gather into study guides.