REFLECTS ECONOMIC GROWTH IN THE 21ST CENTURY
The long-run section presents modern growth theory as researchers in the last 25 years understand it, combining complete, accurate presentation of the Solow model with accessible, innovative coverage of the Romer model.
REFLECTS THE SHORT RUN IN THE 21ST CENTURY
The short-run section features a model that more accurately describe the Fed’s behavior in the 21st century: IS/MP. A new chapter on DSGE Models covers short-term fluctuations in the macroeconomy.
Two complete chapters on the crisis bookend the short-run section, teaching students to analyze the Great Recession using the concepts they’re learning in class and allowing instructors to cover the Great Recession within the framework of their course instead of as an aside.
A FOCUS ON PROBLEM SOLVING
Students learn by doing. So every chapter in Macroeconomics includes two complete worked exercises that walk students through an important chapter concept and help them use the tools of macro in problem solving.