Author Description

Thoroughly revised to reflect the macroeconomic issues of the twenty-first century, Macroeconomics, Ninth Edition combines classic, time-tested pedagogy with a fresh treatment of timely topics and the use of the most current data. The Ninth Edition represents the most complete revision in many years. While retaining its organization of income determination, the IS-LM model, and the SP-DG inflation model "up front," this edition applies the recent ups and downs of the U.S. "New Economy" to make the study of business cycles, monetary and fiscal policy, inflation, saving, and investment more exciting and more relevant than ever. New to this edition is a chapter (11) that grapples with the big questions of economic growth and develops an analysis that goes beyond the standard theories and builds on the best research in the field. The text is universally praised for consistently holding up the theory to the magnifying glass of reality, and this edition is no exception. Substantive case studies and international perspective boxes-including the 9/11 disaster as a classic "shock" to supply and demand-bolster the macroeconomic theory.