Principles of Macroeconomics helps students understand macroeconomic activity measures such as Gross Domestic Product, Unemployment, and Inflation. It discusses the factors that result in growth in the economy.
Macroeconomics is the branch of economics which seeks to model the econ-omy as a whole. Like microeconomics, macroeconomics is a social science, in that it tries to model and predict human behaviour.
Microeconomics: the study of the economy in the small (individual firm, industry, or consumer) Macroeconomics, the study of the economy as a whole, attempts to answer the following issues:
Principles of Macroeconomics is organized as a collection of sections that can be rearranged, modified, and enhanced through localized examples or to incorporate a specific theme of your course. This customization feature will ensure that your textbook truly reflects the goals of your course.
Preface We have designed this book to be a supplement to Robert J. Barro’s Macroeconomics, which is the textbook that is used in introductory macroeconomics courses at the University of Chicago. In teaching these courses, we have found that Barro’s treatment of the subject does not make use of the mathematical skills of our students. In particular, Barro relies almost exclusively on ...
As a teacher, he has taught macroeconomics, micro-economics, statistics, and principles of economics. He even spent one summer long ago as a sailing instructor on Long Beach Island.
Macroeconomics takes a top-down view: Macroeconomics is about the whole economy or economy-wide aggregates such as GDP, CPI, or the current account; Microeconomics, in contrast, looks at the b eh avi or of i ndi vid ual s and small players whose actions do not affect the economy at large but set prices and quantities in their individual markets;