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COURSE: The book is intended for a modern, undergraduate two-semester principles of economics course, in which a more focused and less encyclopedic approach is desired. The course is most commonly found in departments of economics and agricultural economics but is also offered in many business schools. (About two-thirds of the market uses micro or macro splits.) Target Mankiw, Case/Fair, Krugman, Baumol/Blinder, Parkin, and Hall/Lieberman users.
Significant revision of the macro chapter organization, based on reviewer and user feedback, to improve the flow of material, streamline and eliminate redundancies and to make material clearer for student understanding.
- Material from 3e?s Chapter 9: International Trade is now found in Chapter 2: Comparative Advantage, and Chapter 28: International Trade and Capital Flows.
- Labor market material from 3e?s Chapter 18: GDP and Unemployment, and Chapter 21: Workers, Wages and Unemployment has been combined into new Chapter 18: Wages and Unemployment. This eliminates the redundancy of unemployment coverage in 2 chapters, placing it now in just one (18).
- GDP coverage from 3e Chapter 18: GDP and Unemployment is now placed within new Chapter 16: Spending, Income and GDP.
- Material from 3e?s Chapter 23: Money, Prices and the Federal Reserve is now covered in new Chapter 21: Money and Prices in the Long-Run, as well as Chapter 24: Stabilizing the Economy: The Federal Reserve.
- Material from 3e?s Chapter 24: Financial Markets and International Capital Flows is now covered in new Chapter 20: Saving, Capital Formation, and Financial Markets, as well as Chapter 28: International Trade and Capital Flows.
- Logic chains are now used to summarize the effects of monetary policy for better student understanding.
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