(University of Nebraska, Emeritus, Pacific Lutheran University)
|About the book|
McConnell, Brue, and Flynn’s Macroeconomics, Brief Edition comes from the same author team as the market-leading Principles of Macroeconomics textbook. It continues to be innovative while teaching students in a clear, unbiased way. Like the 18th edition, Macroeconomics, Brief Edition has 3 main goals: help the beginning student master the principles essential for understanding the economizing problem, specific economic issues, and the policy alternatives; help the student understand and apply the economic perspective and reason accurately and objectively about economic matters; and promote a lasting student interest in economics and the economy. Although the Brief Edition is a derivative of Macroeconomics 18e, is not a cut-and-paste book that simply eliminates several chapters of Macroeconomics 18e and reorders and renumbers the retained content. Instead, Macroeconomics, Brief Edition is a very concise, highly integrated economics textbook that is distinct in purpose, style, and coverage from Macroeconomics 18e.
COURSE: A one-semester Principles of Macroeconomics course. Found either as the first or second course in Economics at the undergraduate level or at the MBA level. McConnell, Brue, and Flynn is the market-leading text and should be comped to any mid-level school that is searching for a well-balanced, neutral text; it is an excellent committee book.
A Patient, Step-by-Step Approach: Realizing that for most students, this is their first introduction to economics, the authors take a patient, step-by step approach to teaching the material. The authors explain the theory and models slowly and thoroughly. This approach is easier to follow than that of many other texts on the market, which make assumptions and jump through material quickly, leaving students behind.
Balanced Coverage: McConnell and Brue have been the number one selling authors over the years because of their thorough and neutral coverage of the material—they present both sides and let instructors and students make up their own minds.
Focus on Core Models and Concepts: Macroeconomics, Brief Edition shortens and simplifies explanations where appropriate but stresses the importance of the economic perspective, including explaining and applying core economic models. The authors’ strategy is to develop a limited set of essential models, illustrate them with analogies or anecdotes, explain them thoroughly, and apply them to real-world situations.
“Illustrating the Idea” features. “Illustrating the Idea” features use analogies to illustrate theory discussed in the book. For example, a piece on Bill Gates, Oprah Winfrey, and Alex Rodriquez illustrates the importance of opportunity costs in decision-making. Art in the public square brings clarity to public goods and the free-rider problem. In the principles course where there is limited time to linger over topics, such discussions help students learn more quickly and breathe some life into what can otherwise be rather tedious discussions.
Interesting, Memorable Applications. “Applying the Analysis” sections walk students through economic theories and ideas and help cement comprehension. For example, the basics of the economic perspective are applied to why customers tend to try to wait in the shortest checkout lines. Photo sets under the title “Photo Op” are included throughout the book to add visual interest, break up the density, and highlight important distinctions. These photo sets photo sets illustrate normal versus inferior goods, complements versus substitutes in consumption, public versus private investment, and more.
Assessment-Ready Learning Objectives and Testing: Each chapter begins with measurable learning objectives. These learning objectives are cross-referenced to specific test bank questions to allow construction of measurement instruments. This direct link between objectives and content facilitates now common accreditation efforts necessary to meet assurance of learning requirements.
|Table of contents|
PART 1: INTRODUCTION
Ch 1 Limits, Alternatives, and Choices (+ Appendix on Graphs)
Ch 2 The Market System and the Circular Flow
PART 2: PRICE, QUANTITY, and EFFICIENCY
Ch 3 Demand, Supply and Market Equilibrium (+ Web Appendix on Supply and Demand)
Ch 4 Pubic Goods and Externalities
PART 3: GDP, GROWTH, AND INSTABILITY
Ch 5 GDP and Economic Growth
Ch 6 Business Cycles, Unemployment, and Inflation
Ch 7 Aggregate Demand and Aggregate Supply
Ch 8 Fiscal Policy, Deficits, and Debt
PART 4: MONEY, BANKING, AND MONETARY POLICY
Ch 9 Money and Banking
Ch 10 Interest Rates and Monetary Policy
PART 5: LONG-RUN CONSIDERATIONS AND INTERNATIONAL ECONOMICS
Ch 11 Long Run Aggregate Supply and Aggregate Demand
Ch 12 International Trade and Exchange Rates