Principles of Macroeconomics Asia-Pacific Edition,
7th Edition

Robin Stonecash, Jan Libich, Joshua Gans, Stephen King, Martin Byford, N. Gregory Mankiw

ISBN-13: 9780170382649 | ISBN-10: 0170382648

Copyright 2018

| Published 2017

| 506 pages

List Price USD $.00


The brief and student-friendly approach of this book boils economics down to its essentials, by considering what is truly important for students to learn in their first course in economics. In keeping with the authors’ philosophy of showing students the power of economic tools and the importance of economic ideas, this edition pays careful attention to regional and global policies and economic issues – including the impacts of the ongoing global financial crisis, inflation, unemployment, interest rates, and monetary and fiscal policy. Continuing global financial uncertainty and the current state of the Australian economy provide a constant supply of new material, re-evaluated models, and policy changes and updates for the Principles of Macroeconomics text. The book emphasises the material that students should and do find interesting about the study of the economy, resulting in a focus on applications and policy, and less on formal economic theory. Principles of Macroeconomics, 7e encourages students to make their own judgements by presenting both sides of the debate on five controversial issues facing policymakers: the proper degree of policy activism in response to the business cycle, the choice between rules and discretion in the conduct of monetary policy, the desirability of reaching zero inflation, the importance of balancing the government’s budget, and the need for tax reform to encourage saving.

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Meet the Authors

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Robin Stonecash is Dean of Business and Head of Gold Coast campus at Southern Cross University. Previously, Robin was the Director of Executive Education in the Department of Management Education at The University of Sydney Business School. For the last 30 years she has been an academic and consultant, working at the University of Sydney Business School, the Macquarie Graduate School of Management, the Australian Graduate School of Management at UNSW and the School of Business at UTS. She also worked for the Centre for International Economics, a Canberra-based economic consulting firm, working on government policy and regulatory issues.

Joshua Gans holds the Skoll Chair in Innovation and Entrepreneurship at the Rotman School of Management, University of Toronto; he was previously Professor of Management (information Economics) at the Melbourne Business School. He studied economics at the University of Queensland and Stanford University. He currently teaches network and digital marketing strategy, but prior to his relocation to Canada he taught introductory economics and incentive theory to MBA students.

Dr Stephen P King joined the Productivity Commission as a Commissioner from 1 July 2016. He was recently a Professor of Economics at Monash University in Melbourne where he also held the position of Dean of the Faculty of Business and Economics from 2009-2011.

Martin Byford is Lecturer of Economics at RMIT University. Prior to joining RMIT he was Assistant professor of economics at the University of Colorado at Boulder. Martin discovered economics during the final year of a combined Arts and Civil Engineering degree. Realising that he had made a terrible error in his choice of vocation, Martin went back to university to study economics. He completed a PhD at the University of Melbourne in 2007. Martin’s introductory microeconomics course is currently taught on RMIT campuses in Australia, Singapore and Vietnam.

N. Gregory Mankiw is Robert M. Beren Professor of Economics at Harvard University. For 14 years he taught EC10 Principles, the most popular course at Harvard. He studied economics at Princeton University and MIT. Prof. Mankiw is a prolific writer and a regular participant in academic and policy debates. His research includes work on price adjustment, consumer behaviour, financial markets, monetary and fiscal policy, and economic growth. His published articles have appeared in academic journals such as the American Economic Review, Journal of Political Economy, and Quarterly Journal of Economics. His work has also appeared in more widely accessible forums, including The New York Times, The Washington Post, The Wall Street Journal, and Fortune. Prof. Mankiw has been a research associate of the National Bureau of Economic Research, an adviser to the Federal Reserve Bank of Boston and the Congressional Budget Office, and a member of the ETS test development committee for the advanced placement exam in economics. From 2003 to 2005, he served as chairman of the President’s Council of Economic Advisers.

  • New multiple choice questions to test student knowledge and comprehension
  • Now with MindTap, a personalised learning platform for students to engage, learn, apply, extend, revise and assess their economics knowledge
  • Refreshed topical information on the GFC, 'Global Financial Crisis 2008 and beyond', in light of the European debt crises, austerity and stimulus
  • Updated cases and economic data keeps the material current and relevant for students
  • Prominent economists with extensive undergraduate teaching experience have written a student-friendly text that explains clearly and explores contemporary issues. Applications and policy appear alongside formal economic theory
  • Chapter objectives define and reinforce content, while quick quizzes allow students to check their comprehension after they read each major section. Key concepts are listed at the end of the chapter and defined in the margin to help students grasp new terminology.
  • End-of-chapter Summaries, Questions for Review as well as Problems and Applications to reinforce chapter content and encourage critical thinking
  • Chapter focusing on the GFC written by an Australian economist
  • ‘FYI’ boxes present additional material designed to enhance the concepts covered in each chapter.
  • Current cases provide practical illustrations of important concepts
  • *NEW* NUMEROUS NEW AND UPDATED "IN THE NEWS," "FYI," AND "CASE STUDY" BOXED FEATURES HIGHLIGHT RECENT AND SIGNIFICANT MICROECONOMIC EVENTS. You and your students stay up to date on the today’s economic changes and developments as these features highlight events that have made headlines and their significance on macroeconomic decisions today.

Table of Contents

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Part 1: Introduction
1. Ten lessons from economics
2. Thinking like an economist
3. Interdependence and the gains from trade

Part 2: Supply and demand: how markets work
4. The market forces of supply and demand

Part 3: The data of macroeconomics
5. Measuring a nation’s income
6. Measuring the cost of living

Part 4: The real economy in the long run
7. Production and growth
8. Saving, investment and the financial system
9. The natural rate of unemployment

Part 5: Money and prices in the long run
10. The monetary system
11. Inflation: Its causes and costs

Part 6: The macroeconomics of open economies
12. Open-economy macroeconomics: Basic concepts
13. A macroeconomic theory of the open economy

Part 7: Short-run economic fluctuations
14. Aggregate demand and aggregate supply
15. The influence of monetary and fiscal policy on aggregate demand
16. The short-run trade-off between inflation and unemployment
17. Global Financial Crisis 2008 and beyond

Part 8: Final thoughts
18. Five debates over macroeconomic policy

Cengage provides a range of supplements that are updated in coordination with the main title selection. For more information about these supplements, contact your Learning Consultant.

Instructor Website for Stonecash Principles of Macroeconomics

Everything you need for your course in one place! This collection of product-specific lecture and class tools is available online via the instructor resource centre. You'll be able to access and download materials such as PowerPoint presentations, images, and the instructor’s manual.

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Principles of Macroeconomics Asia-Pacific Edition

  • ISBN-10: 0170382648
  • ISBN-13: 9780170382649

Price USD$ .00


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