Principles of Macroeconomics,
8th Edition

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. Contemporary macroeconomics topics

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

• Robin Stonecash

  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

  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.

• Stephen King

  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

  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.

• Kris Ivanovski

  Kris Ivanovski is a Scholarly Teaching Fellow within the Department of Economics at Monash University. He has a demonstrated history of working in the higher education industry and is skilled in Policy Analysis, Stata, Economic Research, Data Analysis, and Statistical Modelling. Kris' strong education experience includes roles at the University of Melbourne and Deakin, as well as a PhD focused in Economics from Monash University.

• N. Gregory Mankiw

  N. Gregory Mankiw is the Robert M. Beren Professor of Economics at Harvard University. For 14 years he taught EC10 Principles, the most popular course at Harvard. Dr. Mankiw studied economics at Princeton University and MIT. He is a prolific writer and a regular participant in academic and policy debates. His research includes work on price adjustment, consumer behavior, financial markets, monetary and fiscal policy and economic growth. Dr. Mankiw's 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. Dr. 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, Dr. Mankiw served as chairman of the President’s Council of Economic Advisers.

• *NEW* A strong inclusive approach with a key figures icon that highlights influential figures in economics

• The refreshed ‘Check your understanding’ feature is unique in the market and breaks up learning into manageable sections. It provides students with the opportunity to check their understanding before continuing to the next section of the chapter, while also encouraging discussion and feedback between instructors and students

• *NEW* Chapter 17, 'Contemporary macroeconomics topics' explores the benefits and costs of globalisation and how it impacts the Australian economy

• New structure with learning objectives aligned to A heads for easy navigation of the text and to assist with lesson planning

• MobLab games and experiments integrated within the MindTap. MobLab - a playground for decisions - provides games and experiments that immerse students in higher-concept learning activities

• Internal page design that increases readability

• End-of-chapter summaries, questions for review, and problems and applications reinforce chapter content and encourage critical thinking

• 'In the news’ boxes contain recent news articles that show students how economic ideas shed light on current affairs and provide opportunity for policy analysis. ‘FYI’ boxes present useful, historical information, economics facts and tips to enhance the concepts covered in each chapter

• The refreshed ‘Apply and revise’ feature breaks up learning into manageable sections. It provides students with the opportunity to check their understanding before continuing to the next section of the chapter, while also encouraging discussion and feedback between instructors and students

• A strong inclusive approach with a new focus on prominent female figures in economics and existing student-friendly language style

• MindTap eLearning platform includes Aplia problems sets and *NEW* MobLab experiments. MobLab - a playground for decisions - provides games and experiments that immerse students in higher-concept learning activities

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.

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