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Baumol W.J., Blinder A.S. Macroeconomics: Principles and Policy

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Baumol W.J., Blinder A.S. Macroeconomics: Principles and Policy
Update 2010 Edition, South-Western Cengage Learning, Mason, OH, USA, 2011. — 439 pages — ISBN: 1439039011
Long a classic text for the teaching of principles of economics, the current economic crisis makes this book an even more essential resource for faculty who want a solid introduction that calls on policy based information for examples and applications. The authors have been on the forefront of advising policy makers and informing the public for years and Alan Blinder, in particular, has been highly visible through the discussions of the current economic situation. The update ensures that faculty who want to teach using the latest policy issues and data are able to do just that. Not only will MACROECONOMICS: PRINCIPLES AND POLICY, UPDATE 2010 EDITION, 11e have the absolute latest data through spring 2010, but will also include a new chapter focuses on the financial crisis and the great recession of 2007-2009
As usual, when updating an edition, we have made many small changes to improve clarity of exposition and to update the text both for recent economics events—the global downturn—and for relevant advances in the literature. But this time we have focused on two particular additions. One is a host of changes pertaining to the stunning economic events of 2007–2009. These appear scattered all over the chapters, but especially in the all new Chapter 20 on the financial crisis and the Great Recession.
The second, introduced in the eleventh edition, is a substantial discussion of the role of the entrepreneurs and of the microtheory of their activities, their pricing and their earnings, and the implications for economic growth. Several studies of the place of the entrepreneur in economics textbooks (including earlier editions of this one) have all reached the same conclusion: that entrepreneurs are either completely invisible or are virtually so. Indeed, in a substantial set of the textbooks the word entrepreneur does not even appear in the index.
Contents
Getting acquainted with economics
The macroeconomy: aggregate supply and demand
Fiscal and monetary policy
The united states in the world economy
Postscript: the financial crisis of 2007-2009
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