Modern Principles: Macroeconomics by Tyler Cowen; Alex Tabarrok - Fourth Edition, 2018 from Macmillan Student Store

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Modern Principles: Macroeconomics

Fourth  Edition©2018 Tyler Cowen; Alex Tabarrok

About

Writing about economics at Marginal Revolution taught us to use vivid examples and to get to the point quickly. We brought these skills to our textbook, Modern Principles of Economics.

From the first sentence, The prisoners were dying of scurvy, typhoid fever, and smallpox, but
nothing was killing them more than bad incentives. to the last, no other textbook teaches the economic way of thinking so well or so memorably.

Modern Principles means modern content and modern delivery. We cover material that many other textbooks ignore, such as how managers should choose between piece rates and tournaments and how firms can increase their profits using clever forms of price discrimination such as bundling and tying. In macroeconomics, we have created a simple yet powerful AD-AS model that combines insights from New Keynesian and Real Business Cycle models.
We have also created the Super Simple Solow model which for the first time makes the Solow model of economic growth accessible to principles of economics students.

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Table of Contents

Preface
1. The Big Ideas
2. The Power of Trade and Comparative Advantage
Part 1: Supply and Demand
3. Supply and Demand
4. Equilibrium: How Supply and Demand Determine Prices
5. Price Ceilings and Floors
Part 2: Economic Growth
6. GDP and The Measurement of Progress
7. The Wealth of Nations and Economic Growth
Appendix: The Magic of Compound Growth Using a Spreadsheet
8. Growth, Capital Accumulation and the Economics of Ideas: Catching Up vs. The Cutting Edge
Appendix: Excellent Growth
9. Saving, Investment, and the Financial System
Appendix: Bond Pricing and Arbitrage
10. Stock Markets and Personal Finance
Part 3: Business Fluctuations
11. Unemployment and Labor Force Participation
12. Inflation and the Quantity Theory of Money
13. Business Fluctuations: Aggregate Demand and Supply
14. Transmission and Amplification Mechanisms
Appendix: BUsiness Fluctuations and the Solow Model
Part 4: Macroeconomic Policy and Institutions
15. The Federal Reserve System and Open Market Operations
Appendix: The Money Multiplier Process in Detail
16. Monetary Policy
17. The Federal Budget: Taxes and Spending
18. Fiscal Policy
Part 5: International Economics
19. International Trade
20. International Finance
21: Political Economy and Public Choice
Appendix A: Reading Graphs and Making Graphs
Appendix B: Solutions to Check Yourself Questions.
Glossary
References
Index

Tyler Cowen

Tyler Cowen is Holbert C. Harris Professor of Economics at George Mason University and Director of the Mercatus Center and the James M. Buchanan Center for Political Economy. He is published widely in economics journals, including the American Economic Review and Journal of Political Economy. With Alex Tabarrok he co-writes the Marginal Revolution blog, often ranked as the #1 economics blog. He is also the author of Discover Your Inner Economist (Dutton, 2007) and numerous other books on economics. He writes regularly for the popular press on economics, including for The New York Times, The Washington Post, Forbes, and The Wilson Quarterly.  University web page: http://economics.gmu.edu/faculty/tcowen.html WATCH: Tyler Cowen at the Economic Bloggers Forum.

Alex Tabarrok

Alex Tabarrok is Bartley J. Madden Chair in Economics at the Mercatus Center at George Mason University and director of research for The Independent Institute. Tabarrok is co-author with Tyler Cowen of the popular economics blog, Marginal Revolution. His recent research looks at bounty hunters, judicial incentives and elections, crime control, patent reform, methods to increase the supply of human organs for transplant, and the regulation of pharmaceuticals. He is the editor of the books, Entrepreneurial Economics: Bright Ideas from the Dismal Science; The Voluntary City: Choice, Community, and Civil Society; and Changing the Guard: Private Prisons and The Control of Crime. His papers have appeared in the Journal of Law and Economics, Public Choice, Economic Inquiry, Journal of Health Economics, Journal of Theoretical Politics, The American Law and Economics Review, Kyklos and many other journals. His popular articles have appeared in The New York Times, The Wall Street Journal, and many other magazines and newspapers.