Author Description

Go beyond the theory and experience real world macroeconomics and microeconomics. Real World Macroeconomics and Real World Microeconomics, a two-volume series, feature hands-on, classroom-tested group projects and experiments to encourage students to analyze economic concepts and connect them to the real world. These texts use timely discussion questions, centered around important current events and described by real news stories, to invite readers to consider how the economy impacts their lives. The distinctive "Unlocking the Mysteries" feature reveals hidden wisdom that makes sense of the model and vital concepts not evident in graphs. In Real World Macroeconomics, the major issues facing the national economy are fully analyzed, including output, employment, and inflation. Students experience a hands-on approach to delve into business cycles, fiscal policy, and monetary policy. The all-new chapter "The Financial Crisis" has the depth and scope to do justice to the inception of the Great Recession in a treatment that goes well beyond all other introductory economics textbooks. At the same time, it presents the key components such as subprime loans, derivatives, and Wall Street in the same straightforward, understandable and lively prose that characterizes Real World Macroeconomics throughout the book.