Nelson Higher Education

Higher Education

Macroeconomics, 12th Edition

  • Includes Digital Assets, 2 terms (12 months) Printed Access Card
  • Roger A. Arnold
  • ISBN-10: 1285738349
  • ISBN-13: 9781285738345
  • 696 Pages | Paperback
  • Previous Editions: 2014, 2011, 2010
  • COPYRIGHT: 2016 Published
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Overview

About the Product

Today's economy may be tough, but economics doesn't have to be. Let Roger Arnold's MACROECONOMICS, 12E open up the world of economic analysis for your students. With more detailed coverage of the financial and economic crisis than any other principles text on the market, this inviting book offers innovative and engaging learning features, easy customization, and fully integrated digital and course management options. The author weaves memorable examples from pop culture throughout this edition and bolsters student interest by illustrating the unexpected places macroeconomics occur. Students see how economic forces link to every day events and form an important part of life 24/7. This edition offers complete video assets ideal for online courses, self-study and ultimate teaching flexibility. "Video Office Hours" digital lectures walk students through worked problems, while brief "Working with Diagrams" videos demonstrate key concepts in graphing that students can play and replay. A new Adaptive Test Prep Tools available on MindTap enables students to quickly assess their personal economic understanding. Powerful digital resources, including Aplia and MindTap, provide unsurpassed planning and course management tools. These resources work with the book's latest content to reflect today's changing economy and equip students with a thorough understanding of contemporary macroeconomics.

Features

  • ONLY BOOK THAT DEVOTES ENTIRE CHAPTER TO RECENT FINANCIAL CRISIS. Chapter 18 highlights the financial crisis of 2007-2009 and is the only book currently available that does this. The author covers all aspects of the crisis from its historical roots and the various factors that contributed to the breakdown to policy responses from the government. This unique chapter brings together the context and direction that today's instructors and students have requested for a thorough economic analysis of the recent crisis.

  • VIDEO OFFICE HOURS FROM AUTHOR WALK STUDENTS THROUGH KEY CONCEPTS AND GRAPHS FOR EACH CHAPTER. Using innovative video and whiteboard technology, the author provides both short digital concept pieces and longer digital lectures for each chapter. He clearly presents key macroeconomic concepts just as he does in his own classes, using a whiteboard for lecture points and demonstrating graphs. Students can play and replay the lectures as often as needed to review concepts.

  • ECONOMICS 24/7 FEATURE ILLUSTRATES THE PRACTICAL RELEVANCE OF KEY CONCEPTS. This helpful feature explores numerous timely issues that can be explained through economic analysis. For example, students examine why people specialize and trade, whether or not a tax on soda will help reduce obesity, why states may ban real estate commission rebates and whether a tax rebate or tax bonus is better. Economics 24/7 teaches readers to look for economic forces at work--and understand the principles behind those forces.

  • LEADING Aplia DIGITAL MANAGEMENT SYSTEM ENCOURAGES INTERACTIVE LEARNING. Aplia offers comprehensive interactive economic problem sets, analyses, tutorials, experiments and critical thinking exercises that require students to take an active role in the learning process. Based on discovery learning, the system helps students improve their economic understanding without creating extra work for you, the instructor. The system automatically grades and records homework and works with any learning management system.

  • VIRTUALLY ENDLESS CUSTOMIZATION CHOICES OFFER ULTIMATE TEACHING FLEXIBILITY. Chapters can be rearranged, online chapters can be customized in print, and you have the option to add any topic, including your own research and notes or specialized topics drawn from the Cengage Economics Issues database. Aplia's™ customization is fully integrated, giving your students hands-on application opportunities without adding to your workload.

About the Author

Roger A. Arnold

Dr. Roger A. Arnold is Professor of Economics at California State University San Marcos, where his fields of specialization include general microeconomic theory and monetary theory. A widely respected authority on economic issues, Dr. Arnold is a regularly featured expert on talk radio discussing the state of the economy. He is also a proven author who has published numerous academic articles, hundreds of newspaper columns, as well as the popular ECONOMICS: NEW WAYS OF THINKING and principles of economics supplemental text, HOW TO THINK LIKE AN ECONOMIST. Dr. Arnold earned a B.S. in Economics from the University of Birmingham in England and received his M.A. and his Ph.D. degrees from Virginia Tech.

Table of Contents

AN INTRODUCTION TO ECONOMICS.
Part I: ECONOMICS: THE SCIENCE OF SCARCITY.
1. What Economics Is About.
Appendix A: Working with Diagrams.
Appendix B: Should You Major in Economics?
2. Production Possibilities Frontier Framework.
3. Supply and Demand: Theory.
4. Prices: Free, Controlled, and Relative.
5. Supply, Demand, and Price: Applications.
MACROECONOMICS.
Part II: MACROECONOMIC FUNDAMENTALS.
6. Macroeconomic Measurements, Part I: Prices and Unemployment.
7. Macroeconomic Measurements, Part II: GDP and Real GDP.
Part III: MACROECONOMIC STABILITY, INSTABILITY, AND FISCAL POLICY.
8. Aggregate Demand and Aggregate Supply.
9. Classical Macroeconomics and the Self-Regulating Economy.
10. Keynesian Macroeconomics and Economic Instability: A Critique of the Self-Regulating Economy.
11. Fiscal Policy and the Federal Budget.
Part IV: MONEY, THE ECONOMY, AND MONETARY POLICY.
12. Money, Banking, and the Financial System.
13. The Federal Reserve System.
Appendix C: The Market for Reserves (or the Federal Funds Market).
14. Money and the Economy.
15. Monetary Policy.
Appendix D: Bond Prices and the Interest Rate.
Part V: EXPECTATIONS AND GROWTH.
16. Expectations Theory and the Economy.
17. Economic Growth: Resources, Technology, Ideas, and Institutions.
Part VI: THE FINANCIAL CRISIS OF 2007-2009.
18. The Financial Crisis of 2007-2009.
Part VII: GOVERNMENT AND THE ECONOMY.
19. Debates in Macroeconomics Over the Role and Effects of Government.
Part VIII: PUBLIC CHOICE AND SPECIAL-INTEREST-GROUP POLITICS.
20. Public Choice and Special-Interest-Group Politics.
Part IX: ECONOMICS THEORY-BUILDING AND EVERYDAY LIFE.
21. Building Theories to Explain Everyday Life: From Observations to Questions to Theories to Predictions.
THE GLOBAL ECONOMY.
Part X: INTERNATIONAL ECONOMICS AND GLOBALIZATION.
22. International Trade.
23. International Finance.
24. Globalization and International Impacts on the Economy.
WEB CHAPTERS.
25. The Economic Case For and Against Government: Five Topics Considered.
26. Stocks, Bonds, Futures, and Options.
27. Agriculture: Problems, Policies, and Unintended Effects.

New to this edition

  • ADAPTIVE TEST PREP HELPS STUDENTS PREPARE FOR TEST SUCCESS. The Adaptive Test Prep on MindTap™ enables students to take multiple tests across chapters, then gauge their understanding using their personalized Adaptive Study Plan before taking an exam.
  • NEW PROGRESSION GRAPHS. Progression Graphs are a new digital resource in the MindTap eReader that decompose an economic concept into finite steps, then allow students to walk through these in a graph at their own pace.
  • FRESH EMPHASIS ON THE LATEST SOCIAL MEDIA AND ITS IMPACT IN THE ECONOMY. This edition uses the Economics 24/7 feature to showcase detailed discussions on social media and its economic influences as it relates to chapter topics.
  • WELL BALANCED COVERAGE OF ECONOMIC FAILURE OF 2008 ANALYZES MARKET AND GOVERNMENT FAILURE. While many books in the market examine market failure, this edition offers a complete, consistent and balanced discussion of this important recent historical event, examining both market failure and government reaction and mistakes.
  • DISCUSSION ENCOURAGES A DEEPER RELATIONSHIP BETWEEN ECONOMICS AND EVERY DAY LIFE. New, relevant topics, such money and happiness and gold standard as money policy, keep the reader interest and demonstrate the application of what students are learning.

Supplements

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: 1305493192 | ISBN-13: 9781305493193)

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 Arnold's Macroeconomics  (ISBN-10: 1305396723 | ISBN-13: 9781305396722)

MINDTAP ECONOMICS FOR ARNOLD’S MACROECONOMICS (1 Sem), 12E 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. 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 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.

LMS Integrated for MindTap Economics, 1 term (6 months) Instant Access for Arnold's Macroeconomics  (ISBN-10: 1305409914 | ISBN-13: 9781305409910)

Cengage Learning provides Learning Management System (LMS) integration with our MindLinks service. This service is designed to deliver an optimal user experience through the learning management system (LMS) already used by the institution--facilitating learning retention and contributing to better learner outcomes. Our collaboration with LMS industry leaders helps drive advanced features like gradebook integration, while the fluid pedagogical design contributes to more teachable moments.

LMS Integrated for Aplia, 1 term Instant Access for Arnold's Macroeconomics  (ISBN-10: 1305409779 | ISBN-13: 9781305409774)

Cengage Learning provides Learning Management System (LMS) integration with our MindLinks service. This service is designed to deliver an optimal user experience through the learning management system (LMS) already used by the institution--facilitating learning retention and contributing to better learner outcomes. Our collaboration with LMS industry leaders helps drive advanced features like gradebook integration, while the fluid pedagogical design contributes to more teachable moments.

MindTapV2.0 Macroeconomics, 1 term (6 months) Instant Access  (ISBN-10: 1337273392 | ISBN-13: 9781337273398)

MindTap V2.0 Macroeconomics is the digital learning solution that helps instructors engage and transform today's students into critical thinkers. Through paths of dynamic assignments and applications that you can personalize, real-time course analytics, and an accessible reader, MindTap helps you turn cookie-cutter into cutting-edge, apathy into engagement, and memorizers into higher-level thinkers. As an instructor using MindTap, you have at your fingertips the right content and unique set of tools curated specifically for your course, all in an interface designed to improve workflow and save time when planning lessons and course structure. The control to build and personalize your course is all yours, focusing on the most relevant material while also lowering costs for your students. Stay connected and informed in your course through real-time student tracking that provides the opportunity to adjust the course as needed based on analytics of interactivity in the course.

Student Supplements

MindTap Economics, 1 term (6 months) Instant Access for Arnold's Macroeconomics  (ISBN-10: 1305396723 | ISBN-13: 9781305396722)

MindTap Economics for Arnold's Macroeconomics, 12th 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 note taking to flashcards -- 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.

LMS Integrated for MindTap Economics, 1 term (6 months) Instant Access for Arnold's Macroeconomics  (ISBN-10: 1305409914 | ISBN-13: 9781305409910)

This access code will provide you with seamless access to your MindTap Economics resources from within your campus Learning Management System. You will be prompted to enter this access code the first time that you click on a link in your course that includes Cengage content.

LMS Integrated for Aplia, 1 term Instant Access for Arnold's Macroeconomics  (ISBN-10: 1305409779 | ISBN-13: 9781305409774)

Cengage Learning provides Learning Management System (LMS) integration with our MindLinks service. This service is designed to deliver an optimal user experience through the learning management system (LMS) already used by the institution--facilitating learning retention and contributing to better learner outcomes. Our collaboration with LMS industry leaders helps drive advanced features like gradebook integration, while the fluid pedagogical design contributes to more teachable moments.

MindTapV2.0 Macroeconomics, 1 term (6 months) Instant Access  (ISBN-10: 1337273392 | ISBN-13: 9781337273398)

It’s 1 AM, there are 20 tabs open on your computer, you lost your flashcards for the test, and you’re so tired you can’t even read. It’d be nice if someone came up with a more efficient way of studying. Luckily, someone did. With a single login for MindTap V2.0 Macroeconomics you can connect with your instructor, organize coursework, and have access to a range of study tools, including e-book and apps all in one place! Manage your time and workload without the hassle of heavy books! The MindTap Reader keeps all your notes together, lets you print the material, and will even read text out loud. Need extra practice? Find pre-populated flashcards and the entire eBook in the MindTap Mobile App, as well as quizzes and important course alerts. Want to know where you stand? Use the Progress app to track your performance in relation to other students. Need help with graphing? Our GraphBuilder tool allows you to break down exhibits from the text step by step and also provides you the ability to create and draw your own graphs. Interested in a student directed pre-test study tool? Adaptive Test Prep gives you the ability to create practice tests that match the style and form you can expect on your upcoming exam.