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Principles of Macroeconomics ( 5th Australian Edition)

Download Principles of Macroeconomics ( 5th Australian Edition) written by Ben Bernanke, Nilss Olekalns, Robert Frank in PDF format. This book is under the category Economics and bearing the isbn/isbn13 number 1760424021; 1760424013; 1760424056/9781760424022/ 9781760424015/ 9781760424053. You may reffer the table below for additional details of the book.

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Specifications

book-author

Ben Bernanke, Nilss Olekalns, Robert Frank

publisher

McGraw-Hill Education / Australia; 5th Edition

file-type

PDF

pages

584 pages[1776 in PDF]

language

English

isbn10

1760424021; 1760424013; 1760424056

isbn13

9781760424022/ 9781760424015/ 9781760424053


Book Description

Developing on the legacy of its international author team; Principles of Macroeconomics; 5th Australian Edition; (PDF) has been adapted for the local market. By emphasizing on central ideas that shape modern macroeconomic thinking; and inferring the latest data; this edition offers a truly Australian perspective. The focus on currency and real-world relevance grounds the key concepts in relatable examples to help readers see the impact of past and present events on Australian and global economic landscapes.

Principles of Macroeconomics 5eImprovements to the 5th edition include:

ANZ focus: Build a solid understanding of the macroeconomic climate in Australia and New Zealand.

Industry Spotlight: Hear from high-profile macroeconomists and recent graduates on industry trends and where a career in macroeconomics can take you.

Interactive digital learning: A robust suite of digital resources including concept videos; graphing tools; and case studies involves students and tests their knowledge.

P.S All our prices are in US$

P.P.S. Contact us if you want Principles of Macroeconomics; 5e; Test Bank or other instructor resources.

NOTE: The product only includes a converted Principles of Macroeconomics; 5th Edition in PDF. This means the formating and page numbers will NOT match the original physical book. No access codes are included.

 

book-author

Ben Bernanke, Nilss Olekalns, Robert Frank

publisher

McGraw-Hill Education / Australia; 5th Edition

file-type

PDF

pages

584 pages[1776 in PDF]

language

English

isbn10

1760424021; 1760424013; 1760424056

isbn13

9781760424022/ 9781760424015/ 9781760424053

Table of contents


Table of contents :
1564736962(1)
9781760424015_Principles of Macroeconomics, 5th Edition by Ben Bernanke; Nilss Olekalns; Robert Frank.pdf
Table of Contents and Preface
Half Title
Title Page
Copyright Page
Dedication
Contents in Brief
Contents in Full
Preface
Assurance of Learning
AACSB statement
About the Australian author
NILSS OLEKALNS
About the US authors
BEN S. BERNANKE
ROBERT H. FRANK
KATE ANTONOVICS
ORI HEFFETZ
Acknowledgments
ACKNOWLEDGMENTS
How to use this Book
Digital resources
Adaptive learning
SmartBook
LearnSmart
Proven effective
Connect support
Visual progress
Chapter 1 Macroeconomics: The bird’s-eye view of the economy
Part 1 Issues in Macroeconomics
Introduction
1.1 The major macroeconomic issues
1.1.1  ECONOMIC GROWTH AND LIVING STANDARDS
1.1.2  PRODUCTIVITY
1.1.3  RECESSIONS AND EXPANSIONS
1.1.4  UNEMPLOYMENT
1.1.5  INFLATION
1.1.6  ECONOMIC INTERDEPENDENCE AMONG NATIONS
1.2 Macroeconomic policy
1.2.1  TYPES OF MACROECONOMIC POLICY
1.2.2  POSITIVE VERSUS NORMATIVE ANALYSES OF MACROECONOMIC POLICY
1.3 Aggregation
1.4 Studying macroeconomics: A preview
Summary
Key Terms
Review Questions
Problems
References
Chapter 2 Measuring economic activity: Gross domestic product and unemployment
Introduction
2.1 Measuring economic activity: Gross domestic product and unemployment
2.1.1 GDP: THE FINE PRINT
Market value
2.1.2 FINAL GOODS AND SERVICES
2.1.3 PRODUCED WITHIN A COUNTRY DURING A GIVEN PERIOD
2.2 Methods for measuring GDP
2.2.1 THE NATIONAL INCOME ACCOUNTING IDENTITY
2.2.2 GDP AND THE INCOMES OF CAPITAL AND LABOUR
2.3 Nominal GDP versus real GDP
2.4 Real GDP is not the same as economic wellbeing
2.4.1 LEISURE TIME
2.4.2 NON-MARKET ECONOMIC ACTIVITIES
2.4.3 ENVIRONMENTAL QUALITY AND RESOURCE DEPLETION
2.4.4 QUALITY OF LIFE
2.4.5 POVERTY AND ECONOMIC INEQUALITY
2.4.6 GDP IS RELATED TO ECONOMIC WELLBEING
2.4.7 AVAILABILITY OF GOODS AND SERVICES
2.4.8 LIFE EXPECTANCY
2.5 Unemployment and the unemployment rate
2.5.1 MEASURING UNEMPLOYMENT
2.5.2 THE COSTS OF UNEMPLOYMENT
2.5.3 THE DURATION OF UNEMPLOYMENT
2.5.4 THE UNEMPLOYMENT RATE VERSUS ‘TRUE’ UNEMPLOYMENT
Summary
Key Terms
Review Questions
Problems
References
Chapter 3 Measuring the price level and inflation
Introduction
3.1 The consumer price index: Measuring the price level
3.2 Inflation
3.2.1  A COMMON MISPERCEPTION ABOUT INFLATION
3.2.2  ADJUSTING FOR INFLATION
Indexing to maintain buying power
3.3 Does the CPI measure ‘true’ inflation?
3.3.1  THE COSTS OF INFLATION: NOT WHAT YOU THINK
3.4 The true costs of inflation
3.4.1 SHOE-LEATHER COSTS
3.4.2 NOISE IN THE PRICE SYSTEM
3.4.3 DISTORTIONS OF THE TAX SYSTEM
3.4.4 UNEXPECTED REDISTRIBUTION OF WEALTH
3.4.5 INTERFERENCE WITH LONG-RUN PLANNING
3.4.6 MENU COSTS
3.4.7  HYPERINFLATION
3.5 Inflation and interest rates
3.5.1  THE REAL INTEREST RATE
3.6 Deflation
Summary
Key Terms
Review Questions
Problems
References
Chapter 4 Saving, investment and wealth
Introduction
4.1 Saving and wealth
4.1.1  STOCKS AND FLOWS
4.1.2  CAPITAL GAINS AND LOSSES
4.2 Why do people save?
4.2.1  SAVING AND THE REAL INTEREST RATE
4.2.2  SAVING, SELF-CONTROL AND DEMONSTRATION EFFECTS
4.3 National saving and its components
4.3.1 THE MEASUREMENT OF NATIONAL SAVING
4.3.2 PRIVATE AND PUBLIC COMPONENTS OF NATIONAL SAVING
4.3.3 PUBLIC SAVING AND THE GOVERNMENT BUDGET
4.4 Is low household saving a problem?
4.5 Investment and capital formation
4.6 Saving, investment and financial markets
4.6.1 THE EFFECTS OF NEW TECHNOLOGY
Summary
Key Terms
Review Questions
Problems
References
Chapter 5 Wages, employment and the labour market
Introduction
5.1 The perfectly competitive model of the labour market
5.1.1 WAGES AND THE DEMAND FOR LABOUR
5.1.2 SHIFTS IN THE DEMAND FOR LABOUR
5.1.3 THE SUPPLY OF LABOUR
5.1.4 SHIFTS IN THE SUPPLY OF LABOUR
5.1.5 EQUILIBRIUM IN THE PERFECTLY COMPETITIVE MODEL OF THE LABOUR MARKET
5.2 Explaining the trends in real wages and employment
5.2.1 LARGE INCREASES IN REAL WAGES IN INDUSTRIALISED COUNTRIES
5.2.2 REAL WAGES GROWTH AND EMPLOYMENT IN AUSTRALIA
5.2.3  INCREASING WAGE INEQUALITY: THE EFFECTS OF GLOBALISATION AND TECHNOLOGICAL CHANGE
5.3 Unemployment
5.3.1 TYPES OF UNEMPLOYMENT AND THEIR COSTS
Frictional unemployment
Structural unemployment
Cyclical unemployment
5.4 Impediments to full employment
5.4.1 MINIMUM WAGE LAWS
5.4.2  LABOUR UNIONS
5.4.3  UNEMPLOYMENT BENEFITS
5.4.4 OTHER GOVERNMENT REGULATIONS
Summary
Key Terms
Review Questions
Problems
References
Chapter 6 Short-term economic fluctuations: An introduction
Part 2 Short-run macroeconomics: The analysis of the business cycle
Introduction
6.1 Contractions and expansions
6.1.1 SOME FACTS ABOUT SHORT-TERM ECONOMIC FLUCTUATIONS
6.2 Output gaps and cyclical unemployment
6.2.1 POTENTIAL OUTPUT AND THE OUTPUT GAP
6.2.2 THE NATURAL RATE OF UNEMPLOYMENT
6.2.3 OKUN’S LAW
6.3 Why do short-term fluctuations occur? A preview and a parable
Lisa’s Ice-cream Store
Summary
Key Terms
Review Questions
Problems
References
Chapter 7 Spending and output in the short run
Introduction
7.1 An introduction to the Keynesian model
7.2 Aggregate expenditure
7.2.1 PLANNED EXPENDITURE VERSUS ACTUAL EXPENDITURE
7.2.2 CONSUMER SPENDING AND THE ECONOMY
7.3 Planned aggregate expenditure and output
7.4 Short-run equilibrium output
7.5 Consumption and investment in the two-sector model
7.6 The 45-degree diagram
7.7 Withdrawals and injections
7.8 The four-sector model
7.9 Planned spending and the output gap
7.10 The multiplier
7.11 Stabilising planned spending: The role of fiscal and monetary policies
Summary
Key Terms
Review Questions
Problems
References
Chapter 8 Fiscal policy
Introduction
8.1 Government purchases and planned spending
8.2 Taxes, transfers and aggregate spending
8.3 Fiscal policy as a stabilisation tool: Three qualifications
8.3.1 FISCAL POLICY AND THE SUPPLY SIDE
8.3.2  THE PROBLEM OF DEFICITS
8.3.3  THE RELATIVE INFLEXIBILITY OF FISCAL POLICY
8.4 Contemporary fiscal policy
8.4.1  THE DISTRIBUTION OF INCOME
8.4.2  MANAGING DEMOGRAPHIC CHANGE
8.4.3  FISCAL POLICY AND THE PUBLIC DEBT
Summary
Key Terms
Review Questions
Problems
References
Chapter 9 Money, prices and the Reserve Bank
Introduction
9.1 The financial system and the allocation of saving to productive uses
9.1.1 THE BANKING SYSTEM
9.1.2 BONDS AND STOCKS
Bonds
Stocks
9.2 Bond markets, stock markets and the allocation of savings
9.2.1 THE INFORMATIONAL ROLE OF BOND AND STOCK MARKETS
Risk sharing and diversification
9.3 Money and its uses
9.3.1 MEASURING MONEY
9.4 Commercial banks and the creation of money
9.4.1 THE MONEY SUPPLY WITH BOTH CURRENCY AND DEPOSITS
9.5 Money and prices
9.5.1  VELOCITY
9.5.2 MONEY AND INFLATION IN THE LONG RUN
9.6 The Reserve Bank of Australia
9.6.1 INFLUENCING INTEREST RATES: OPEN-MARKET OPERATIONS
Summary
Key Terms
Review Questions
Problems
References
Chapter 10 The Reserve Bank and the economy
Introduction
10.1 The Reserve Bank, interest rates and monetary policy
10.1.1  THE IMPLICATIONS OF A CHANGE IN MONETARY POLICY FOR THE MONEY SUPPLY
10.2 Can the Reserve Bank control real interest rates?
10.3 The effects of the Reserve Bank’s actions on the economy
10.3.1  PLANNED AGGREGATE EXPENDITURE AND THE REAL INTEREST RATE
10.3.2  THE RESERVE BANK FIGHTS A RECESSION
10.3.3  THE RESERVE BANK FIGHTS INFLATION
10.4 The Reserve Bank’s policy reaction function
10.5 Monetary policymaking: Art or science?
Summary
Key Terms
Review Questions
Problems
References
Appendix to Chapter 10
MONETARY POLICY IN THE BASIC KEYNESIAN MODEL
Chapter 11 Aggregate demand, aggregate supply and inflation
Introduction
11.1 Inflation, spending and output: Aggregate demand curve
11.1.1   INFLATION, THE RESERVE BANK AND THE AGGREGATE DEMAND CURVE
11.1.2   OTHER REASONS FOR THE DOWNWARD SLOPE OF THE AGGREGATE DEMAND CURVE
11.1.3   SHIFTS OF THE AGGREGATE DEMAND CURVE
(A) Exogenous changes in spending
(B) Exogenous changes in the Reserve Bank’s policy reaction function
11.1.4   SHIFTS OF THE AGGREGATE DEMAND CURVE VERSUS MOVEMENTS ALONG THE AGGREGATE DEMAND CURVE
11.2 Inflation and supply decisions
11.2.1   INFLATION INERTIA
11.2.2   OUTPUT GAPS AND INFLATION
11.3 The aggregate demand–aggregate supply diagram
11.4 The self-correcting economy
11.5 Sources of inflation
11.5.1    EXCESSIVE AGGREGATE SPENDING
11.5.2    INFLATION SHOCKS
11.6 Controlling inflation
Summary
Key Terms
Review Questions
Problems
Appendix to Chapter 11
Aggregate demand curve
Shifts of aggregate demand curve
Short-run equilibrium
Long-run equilibrium
References
Chapter 12 Macroeconomic policy
Introduction
12.1 What is the role of stabilisation policy?
12.1.1 STABILISATION POLICY AND DEMAND SHOCKS
12.1.2 STABILISATION POLICY AND INFLATION SHOCKS
12.2 Inflationary expectations and credibility
12.2.1 CENTRAL BANK INDEPENDENCE
12.2.2 ANNOUNCING A NUMERICAL INFLATION TARGET
12.2.3 CENTRAL BANK REPUTATION
12.3 Fiscal policy and the supply side
12.4 Policymaking: Art or science?
Summary
Key Terms
Review Questions
Problems
References
Chapter 13 The economy in the long run: An introduction to economic growth
Part 3 Long run macroeconomics: The analysis of economic growth
Introduction
13.1 Introduction to economic growth
13.2 Economic growth and potential output
13.3 Growth rates and differences in living standards
13.3.1  WHY ‘SMALL’ DIFFERENCES IN GROWTH RATES MATTER
13.4 Why nations become rich: The crucial role of average labour productivity
13.4.1  THE DETERMINANTS OF AVERAGE LABOUR PRODUCTIVITY
Human capital
Physical capital
Land and other natural resources
Technology
Entrepreneurship and management
The political and legal environment
13.5 The costs of economic growth
13.6 Promoting economic growth
13.6.1  POLICIES TO INCREASE HUMAN CAPITAL
13.6.2  POLICIES THAT PROMOTE SAVING AND INVESTMENT
13.6.3  POLICIES THAT SUPPORT RESEARCH AND DEVELOPMENT
13.6.4  THE LEGAL AND POLITICAL FRAMEWORK
13.6.5  THE POOREST COUNTRIES: A SPECIAL CASE?
13.7 Are there limits to growth?
Summary
Key Terms
Review Questions
Problems
References
Chapter 14 The production function approach to understanding growth
Introduction
14.1 Economists and economic growth
14.2 The production function
14.2.1 CAPITAL
14.2.2 LABOUR
14.2.3 BRINGING LABOUR AND CAPITAL TOGETHER: THE PRODUCTION FUNCTION
14.3 The Cobb–Douglas production function
14.4 Growth accounting
14.4.1 ECONOMIC GROWTH AND THE FACTORS OF PRODUCTION
14.4.2 THE SOURCES OF ECONOMIC GROWTH
Summary
Key Terms
Review Questions
Problems
References
Chapter 15 Saving, capital formation and comparative economic growth
Introduction
15.1 Saving, investment and economic growth
15.1.1 SAVING, INVESTMENT AND THE INCOME ACCOUNTING IDENTITY
15.2 The neo-classical (Solow–Swan) model of economic growth
15.2.1 A DIAGRAMMATIC TREATMENT
Implication number 1
Implication number 2
15.2.2 EVIDENCE
Summary
Key Terms
Review Questions
Problems
References
Chapter 16 International trade
Part 4 Open-economy macroeconomics
Introduction
16.1 Production and consumption possibilities and the benefits of trade
16.1.1  THE PRODUCTION POSSIBILITIES CURVE
16.1.2  CONSUMPTION POSSIBILITIES WITH AND WITHOUT INTERNATIONAL TRADE
16.1.3  COMPARATIVE ADVANTAGE AND INTERNATIONAL TRADE
16.1.4  SOURCES OF COMPARATIVE ADVANTAGE
16.2 A supply and demand perspective on trade
16.2.1  WINNERS AND LOSERS FROM TRADE
16.3 Protectionist policies: Tariffs and quotas
16.3.1  TARIFFS
16.3.2   QUOTAS
16.3.3   THE INEFFICIENCY OF PROTECTIONISM
Summary
Key Terms
Review Questions
Problems
References
Chapter 17 Exchange rates and the open economy
Introduction
17.1 Nominal exchange rates
17.1.1  FLEXIBLE VERSUS FIXED EXCHANGE RATES
17.2 The real exchange rate
17.3 The determination of the exchange rate
17.3.1  A SIMPLE THEORY OF EXCHANGE RATES: PURCHASING POWER PARITY
17.3.2  SHORTCOMINGS OF THE PPP THEORY
17.4 The determination of the exchange rate: A supply and demand analysis
17.4.1  THE SUPPLY OF DOLLARS
17.4.2  THE DEMAND FOR DOLLARS
17.4.3  EQUILIBRIUM VALUE OF THE DOLLAR
17.4.4  CHANGES IN THE SUPPLY OF DOLLARS
17.4.5  CHANGES IN THE DEMAND FOR DOLLARS
17.5 Monetary policy and the exchange rate
17.5.1  THE EXCHANGE RATE AS A TOOL OF MONETARY POLICY
17.6 Fixed exchange rates
17.6.1  HOW TO FIX AN EXCHANGE RATE
17.6.2  SPECULATIVE ATTACKS
17.6.3   MONETARY POLICY AND FIXED EXCHANGE RATES
17.7 Should exchange rates be fixed or flexible?
Summary
Key Terms
Review Questions
Problems
References
Chapter 18 The balance of payments: Net exports and international capital flows
Introduction
18.1 The balance of payments
18.1.1  THE CURRENT ACCOUNT
18.1.2  THE CAPITAL ACCOUNT
18.2 Capital flows and the relationship between the capital and the current accounts
18.2.1  CAPITAL FLOWS AND THE CURRENT ACCOUNT BALANCE
18.3 The determinants of international capital flows
18.4 Saving, investment and capital inflows
18.5 The saving rate and the trade and current account deficits
Summary
Key Terms
Review Questions
Problems
References
Chapter 19 Macroeconomics: What have we learnt?
Part 5 Concluding thoughts
Introduction
19.1 Lessons from the past
19.2 Schools of thought in macroeconomics
19.2.1  KEYNESIAN ECONOMICS
19.2.2  MONETARISM
19.2.3  NEW CLASSICAL MACROECONOMICS
19.2.4  NEW KEYNESIAN MACROECONOMICS
19.2.5  GROWTH THEORY AND THE REAL BUSINESS CYCLE SCHOOL
19.3 Some concluding thoughts
Summary
Key Terms
Review Questions
Problems
References
Answers to concept checks
Answers to concept checks
Glossary
Glossary
Index
Index

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