ISBN-13: 9781133190080 / ISBN-10: 1133190081
McEachern “teaches by example.” It is the text that uses examples and illustrations that 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. Taking a “just-in-time” approach by introducing material just as it is needed to develop an argument, MACROECONOMICS: A CONTEMPORARY INTRODUCTION, 10e, International Edition truly leads by example. In a decidedly user-friendly tone, McEachern assumes that students are already intuitively familiar with many economic concepts through their own life experiences. These life experiences are then explained to students as economic concepts with clear and interesting exposition, relevant case studies, and a clean, focused design. The text’s major applications take the form of Case Studies that are meant to be read and therefore are integrated into the flow of each chapter. With this Tenth edition, the book’s well-crafted approach is enhanced with resources--such as Aplia and CourseMate--that will help your students improve their understanding and help you streamline tasks and save valuable time.
- The most successful online product for economics is now fully integrated with McEachern’s text. Aplia offers interactive tools to help better prepare economics students. For instructors, Aplia provides access to high-quality, auto-graded assignments that ensure your students put forth effort on a regular basis throughout the term.
- CourseMate brings course concepts to life with interactive learning, study, and exam preparation tools that support the printed textbook. Watch student comprehension soar as your class works with the printed textbook and the textbook-specific website.
- This edition includes more exhibits – and many new ones - to reinforce key ideas while capturing student interest. Graphs are clear, with curves that are carefully and systematically color-coded to enhance student understanding.
- To Review sections sum up lengthy concepts, while other section summaries and brief, one-sentence questions are inserted into the flow of the text ensure that students comprehend what they’re studying and are ready to move on through the material.
- McEachern leads by example, introducing each economic idea by using common everyday student experiences to help bridge the gap between what students already know and the unfamiliar world of economics. With each chapter, McEachern emphasizes the “rules of the game” in shaping markets and promoting economic development, such as the protection of intellectual property rights.
- End-of-chapter questions and problems – many new - identify the chapter concepts being addressed, allowing for easier assignment by the instructor and helping students find the material they may need to review if a question or problem gives them difficulty.
1. The Art and Science of Economic Analysis.
2. Some Tools of Economic Analysis.
3. Economic Decision Makers.
4. Demand and Supply Analysis.
5. Introduction to Macroeconomics.
6. Tracking the U. S. Economy.
7. Unemployment and Inflation.
8. Productivity and Growth.
9. Aggregate Expenditure.
10. Aggregate Expenditure and Aggregate Demand.
11. Aggregate Supply.
12. Fiscal Policy.
13. Federal Budgets and Public Policy.
14. Money and the Financial System.
15. Banking and the Money Supply.
16. Monetary Theory and Policy.
17. The Policy Debate: Active or Passive?
18. International Trade.
19. International Finance.
20. Developing and Transitional Economies.
- Greater Emphasis on Recent Research: New to this edition is a greater emphasis on research with studies selected to stimulate students’ interest, to reinforce economic principles, and, in few cases, to offer a different perspective. The 10th edition will cite and discuss nearly 150 recent studies gleaned from the author’s survey of more than a thousand relevant publications, resulting in nearly twice the number of studies identified in the previous edition.
- New Topics Covered: Nearly 150 new research findings inevitably will introduce new topics such as issues in income redistribution and the fallout from the Great Recession.
- More Major Sections within Chapters: The 10th edition will present major sections in more bite-sized portions through the addition of new section and subsection headings. This change will enable students to have an easier time reading and comprehending material with more manageable section lengths. Some examples of the new headings include: “Other Unemployment Issues” (Ch. 7); “The Long-Run Aggregate Supply Curve” (Ch. 11), “Banking During and After the Great Recession” (Ch. 14); and “Other Issues of Foreign Exchange Markets” (Ch. 19).
- Checkpoint Questions: New to the 10th edition are “Checkpoint Questions” to help students retrieve, or recall, material that they have just read. After each major section, students will be asked a key “Checkpoint” question to help them assess how well they recall and understand what they just read.
- Case Studies treatment: Case Studies have been reduced to one per chapter, updated throughout. A second Case Study for each chapter is available online.
- Other New Aspects: More intuition, more stories, more examples, more supporting studies, or, as the case may be, some conflicting studies.
- Some Changes to Organization: The content within some chapters is shuffled. For example, in Chapter 18 the section “Arguments for Trade Restrictions” will appear before the new section called “Efforts to Reduce Trade Barriers.”
- New Exhibits: New exhibits will demonstrate: scarcity and choice (Ch. 1); the division of labor (Ch. 2); the evolution of money (Ch. 14); and changes over time in the different means of payments (e.g., cash, check, credit cards, debit cards) (Ch. 15).
- New End-of-Chapter Questions/Problems: Some new Questions and Problems appear in the 10th edition in keeping with updated content
William A. McEachern
William A. McEachern began teaching large sections of economic principles shortly after joining the University of Connecticut, and a 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. Professor McEachern has published books and monographs on public finance, public policy, and industrial organization. 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), and 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. He is the founding editor of THE TEACHING ECONOMIST, a newsletter that for more than two decades has focused on teaching economics at the college level. Professor 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, CHRISTIAN SCIENCE MONITOR, USA TODAY, and READER’S DIGEST. He was born in Portsmouth, New Hampshire, 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. from the University of Virginia.