Macroeconomics principles and tools O'Sullivan Arthur

TABLE OF CONTENTS

PART 1: Introduction and key principles 1

1. Introduction: What is Economics 1-14
2. Key principles of economics 23-37
3. Markets and government in the global economy 41-58
4. Supply , demand and market equilibrium 63-89
PART 2: The basic concepts in macroeconomics 95
5. Measuring a Nation’s production and income 95-111
6. Unemployment and inflation 115-127

PART 3: The economy in the long run 131

7. Classical economics: The economy at full employment 131-149
8. Why do economies grow? 153-178

PART 4: Economic fluctuations 179

9. Aggregate demand and aggregate supply 179-195
10. Keynesian economics and fiscal policy 199-229
11. Investment and financial international 231-246
PART 5: Money, Banking and monetary policy 249
12. Money, the banking system and the federal reserve 249-267
13. Monetary policy in the short run 269-285

PART 6: Inflation, Unemployment, and economic policy 289

14. From the short run to the long run 289-303
15. The dynamics of inflation and unemployment 307-325
16. Current issues in macroeconomic policy 329-343
PART 7: The international economy 347
17. International trade and public policy 347-364
18. The world of international finance 369-387

Glossary G-1

Answers to odd-numbered problems and discussion questions A-1
Index I-1
Photo credits P-1