Macroeconomic Essentials: Understanding Economics in the News

Paperback | August 6, 2010

byPeter E. Kennedy

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This introductory text offers an alternative to the encyclopedic, technically oriented approach taken by traditional textbooks on macroeconomic principles. Concise and nontechnical but rigorous, its goal is not to teach students to shift curves on diagrams but to help them understand fundamental macroeconomic concepts and their real-world applications. It accomplishes this by providing a clear exposition of introductory macroeconomic theory along with more than 700 one- or two-sentence "news clips" of economics media coverage that serve as illustrations of the concepts discussed. Although the writing is accessible, end-of-chapter questions are challenging, requiring a thorough understanding of related macroeconomic concepts, problem-solving skills, and an ability to make connections to the real world. Students will learn practical macroeconomics and will be able to interpret and evaluate media commentary on macroeconomics.

This third edition has been revised and updated throughout. New material covers the subprime mortgage crisis and other subjects; new "curiosities" (boxed expositions of important topics) have been added, as have "news clips" about recent events; and the most challenging end-of-chapter questions are now separated from the less challenging. Many chapters include a set of numerical exercises (quite different from those found in traditional texts); a sample exam question appears at the end of each section within a chapter; and a test bank of multiple-choice questions (with answers) is available online. Technical material appears in appendixes following each chapter. Other appendixes offer answers to the sample exam questions and the even-numbered end-of-chapter exercises. Macroeconomic Essentials will continue to appeal to instructors and students unhappy with the approach of traditional textbooks, to instructors teaching business students looking for relevance, and to instructors of policy- or applications-oriented macroeconomics courses.

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From the Publisher

This introductory text offers an alternative to the encyclopedic, technically oriented approach taken by traditional textbooks on macroeconomic principles. Concise and nontechnical but rigorous, its goal is not to teach students to shift curves on diagrams but to help them understand fundamental macroeconomic concepts and their real-wo...

Peter Kennedy is Professor Emeritus of Economics at Simon Fraser University.

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Format:PaperbackDimensions:488 pages, 9 × 8 × 0.62 inPublished:August 6, 2010Publisher:The MIT PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:026251480X

ISBN - 13:9780262514804

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Customer Reviews of Macroeconomic Essentials: Understanding Economics in the News

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Rated 5 out of 5 by from One of the Most Practical and Thinking Texts on the Principles of Macroeconomics. The late Peter Kennedy has created a Macroeconomics textbook that uses and applies to everyday Economics. The text is not only accessible but practical. The text is less mathematical and certainly uses fewer graphs than most introductory Macroeconomic texts but there is a lot of supplementary material on his website that allows you to practice that material further. This text requires students to really critically think about economic principles and apply them to the real world instead of the standard mathematical calculations that any computer could do. This ensures real long-term learning. Kennedy was world renown for his teaching methodologies and often taught some great professors how to best teach their own students. This textbook's underlying pedagogy will allow your students to master the material. I would also highly recommend this text to those students in the business discipline or other social sciences who will not go on to further study Economics but but want a firm foundation to apply the principles to their own fields.
Date published: 2015-05-16

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Editorial Reviews

There is a fundamental reason that macroeconomics exists as a field distinguishable from aggregated microeconomics: the need for governments to make decisions that can only be guided by macroeconomics. This principles text emphasizes the policy issues that drive the development of the field. Peter Kennedy brings macroeconomics to life for undergraduate students.