Author Description

When asked to describe this text, most Lipsey readers use the same word:<b>precise.</b>The authors do not gloss over subjects when presenting economic ideas; rather, they offer a patient explanation of the concept and back it up with the latest research and data. Taken separately, neither theory nor data alone can give readers a true understanding of the idea, but when combined these elements give students a complete view of economics in the real world.<br> <br> <b>What is Economics?:</b>Economic Issues and Concepts; How Economists Work.<b>An Introduction to Demand and Supply:</b>Demand, Supply, and Price; Elasticity.<b>An Introduction to Macroeconomics:</b>What Macroeconomics Is All About; The Measurement of National Income.<b>The Economy in the Short Run:</b>The Simplest Short-Run Macro Model; Adding Government and Trade to the Simple Macro Model; Aggregate Supply and Aggregate Demand in the Short Run.<b>The Economy in the Long Run:</b>From the Short Run to the Long Run: The Adjustment of Factor Prices; The Difference Between Short-Run and Long-Run Macroeconomics; Long-Run Economic Growth.<b>Money, Banking, and Monetary Policy:</b>Money and Banking; Money, Interest Rates, and Economic Activity; Monetary Policy.<b>Macroeconomic Problems and Policies:</b>Inflation and Disinflation; Unemployment Fluctuations and the NAIRU; Government Debt and Deficits.<b>The United States in the Global Economy:</b>The Gains from International Trade; Trade Policy; Exchange Rates and the Balance of Payments.<br> <b><br></b>For all readers interested in macroeconomics.