Modern Principles of Macroeconomics

Sixth Edition

Publication Date: April 15, 2024

Paperback ISBN: 9781319544355

Pages: 576

Teach the Principles of Economics, teach the World, and help students ACHIEVE.

In line with its title, Modern Principles, Cowen and Tabarroks book remains a top seller by incorporating up-to-date theories, data, and discussion and illustrating them with contemporary examples that reflect recent economic and theoretical advancements. This approach, delivered in...

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Preface
Chapter 1 The Big Ideas
Chapter 2 The Power of Trade and Comparative Advantage

Part I Supply and Demand
Chapter 3 Supply and Demand
Chapter 4 Equilibrium
Chapter 5 Price Ceilings and Floors

Part II Economic Growth
Chapter 6 GDP and the Measurement of Progress
Chapter 7 The Wealth of Nations and Economic Growth
Chapter 8 Growth, Capital Accumulation, and the Economics of Ideas: Catching Up vs. the Cutting Edge
Chapter 9 Saving, Investment, and the Financial System
Chapter 10 Stock Markets and Personal Finance

Part III Business Fluctuations
Chapter 11 Unemployment and Labor Force Participation
Chapter 12 Inflation and the Quantity Theory of Money
Chapter 13 Business Fluctuations: Aggregate Demand and Supply
Chapter 14 Transmission and Amplification Mechanisms

Part IV Macroeconomic Policy and Institution
Chapter 15 The Federal Reserve System and Open Market Operations
Chapter 16 Monetary Policy
Chapter 17 The Federal Budget: Taxes and Spending
Chapter 18 Fiscal Policy

Part IV International Economics
Chapter 19 International Trade
Chapter 20 International Finance
Chapter 21 Political Economy and Public Choice

Written with a clean and to-the-point style, mimicking the author’s popular blog Marginal Revolution, ensuring the content is accessible to all students.
Provides support for different learning styles with reference to over 180 Marginal Revolution videos within the text, also available digitally.
Contains relevant material that many other books ignore, such as how managers should choose between piece rates and tournaments and how firms increase their profits using bundling and tying.
A purpose built simple Solow model means that the Solow model of economic growth is accessible for students- allowing them to grasp this early during their principles courses.
A powerful, more realistic AD-AS model combines insights from New Keynesian and Real Business Cycle models enabling a balanced understanding of these key concepts.

Achieve is Macmillan Learning’s complete online learning system. It houses instructor resources to support teaching and a range of interactive resources and the full ebook to help students succeed in their course. Access to Achieve for instructors is available on this page. Student access to Achieve could be through their institution if the institution has signed a license or as a separate student purchase. The instructor must set up a course for students to benefit from this product.

Interactive Graphs, in the e-book and in a Graphing Bank, allow students to engage with economic models to see how components of the graph change as market dynamics change. Every data graph in the text is now interactive.
Learning Economics from AI (in the preface) show students how to use resources such as ChatGPT or Bing Chat to get meaningful answers to economics questions.
Thorough Coverage of the Great Financial Crisis and the Pandemic Recession using Cowen/Tabbarok’s dynamic AD-AS model to examine a recession that was initially demand-driven, then supply-driven. Cowen and Tabbarok take students beyond the shifting of curves and towards discussions of shadow banking, securitisation, the microeconomics of externalities, and how monetary and fiscal policy must change when the goal isn’t to get people back to work.
New Insights into the Federal Reserve and its ability to influence aggregate demand by adjusting interest on reserves.

“Econ majors need the basics and the book provides them along with great examples. They only need to understand the basics at this point anyway, as intermediate micro will drill them much more into the concepts, and thus Cowen’s presentation seems almost perfect.” —Damian Park, Santa Clara University

“Cowen goes into depth with real-world examples, narrative, and math examples. The graphs and other visual aids matched well with the content and enhance the descriptions of the theory.” —Jeff Glover, Pitt Community College

“My students, regardless of their demographics, find this material engaging because it describes a real-world feature of market economies that many students intuitively find concerning and interesting.” —Zac Gochenour, James Madison University

Tyler Cowen

Tyler Cowen is Holbert C. Harris Professor of Economics at George Mason University. His latest book is Big Business. 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. 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.

Achieve for Modern Principles is an online learning system backed by extensive development and research. Proven to increase student engagement and boost performance. Achieve offers:

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Course and book-specific resources including adaptive quizzing to personalise the experience for students.
A grade book, assignable assessments with targeted feedback, insights and reporting, instructor resources - all with seamless integration options.
Integrated with iClicker so that instructors and students can benefit in class and remotely from an industry leading student response system.
180 short videos from ‘Marginal Revolution University (MRU)’ are deeply integrated throughout the Achieve and they are accompanied by assignable, automatically graded quizzes to support student learning.

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Achieve is our online learning system backed by extensive development and research. Proven to increase student engagement and boost performance. Achieve offers:

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Course and book-specific resources including adaptive quizzing (Learning Curve) to personalize the experience for students
A grade book, assignable assessments with targeted feedback, insights and reporting, instructor resources - all with seamless integration options.

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Clicker Slides

Clicker Slides - Chapter 01

Clicker Slides - Chapter 02

Clicker Slides - Chapter 03

Clicker Slides - Chapter 04

Clicker Slides - Chapter 05

Clicker Slides - Chapter 06

Clicker Slides - Chapter 07

Clicker Slides - Chapter 08

Clicker Slides - Chapter 09

Clicker Slides - Chapter 10

Clicker Slides - Chapter 11

Clicker Slides - Chapter 12

Clicker Slides - Chapter 13

Clicker Slides - Chapter 14

Clicker Slides - Chapter 15

Clicker Slides - Chapter 16

Clicker Slides - Chapter 17

Clicker Slides - Chapter 18

Clicker Slides - Chapter 19

Clicker Slides - Chapter 20

Clicker Slides - Chapter 21

Image Slides

Image Slides - Appendix A

Image Slides - Chapter 01

Image Slides - Chapter 02

Image Slides - Chapter 03

Image Slides - Chapter 04

Image Slides - Chapter 05

Image Slides - Chapter 06

Image Slides - Chapter 07

Image Slides - Chapter 08

Image Slides - Chapter 09

Image Slides - Chapter 10

Image Slides - Chapter 11

Image Slides - Chapter 12

Image Slides - Chapter 13

Image Slides - Chapter 14

Image Slides - Chapter 15

Image Slides - Chapter 16

Image Slides - Chapter 17

Image Slides - Chapter 18

Image Slides - Chapter 19

Image Slides - Chapter 20

Image Slides - Chapter 21

Image Slides - End Matter

Image Slides - Front Matter

Instructor's Resource Manual

Instructor's Resource Manual - Chapter 01

Instructor's Resource Manual - Chapter 02

Instructor's Resource Manual - Chapter 03

Instructor's Resource Manual - Chapter 04

Instructor's Resource Manual - Chapter 05

Instructor's Resource Manual - Chapter 06

Instructor's Resource Manual - Chapter 07

Instructor's Resource Manual - Chapter 08

Instructor's Resource Manual - Chapter 09

Instructor's Resource Manual - Chapter 10

Instructor's Resource Manual - Chapter 11

Instructor's Resource Manual - Chapter 12

Instructor's Resource Manual - Chapter 13

Instructor's Resource Manual - Chapter 14

Instructor's Resource Manual - Chapter 15

Instructor's Resource Manual - Chapter 16

Instructor's Resource Manual - Chapter 17

Instructor's Resource Manual - Chapter 19

Instructor's Resource Manual - Chapter 20

Instructor's Resource Manual - Chapter 21

Lecture Slides

Lecture Slides - Chapter 01

Lecture Slides - Chapter 02

Lecture Slides - Chapter 03

Lecture Slides - Chapter 04

Lecture Slides - Chapter 05

Lecture Slides - Chapter 06

Lecture Slides - Chapter 07

Lecture Slides - Chapter 08

Lecture Slides - Chapter 09

Lecture Slides - Chapter 10

Lecture Slides - Chapter 11

Lecture Slides - Chapter 12

Lecture Slides - Chapter 13

Lecture Slides - Chapter 14

Lecture Slides - Chapter 15

Lecture Slides - Chapter 16

Lecture Slides - Chapter 17

Lecture Slides - Chapter 18

Lecture Slides - Chapter 19

Lecture Slides - Chapter 20

Lecture Slides - Chapter 21

Solutions Manual

Solutions Manual - Chapter 01

Solutions Manual - Chapter 02

Solutions Manual - Chapter 03

Solutions Manual - Chapter 04

Solutions Manual - Chapter 05

Solutions Manual - Chapter 06

Solutions Manual - Chapter 07

Solutions Manual - Chapter 08

Solutions Manual - Chapter 09

Solutions Manual - Chapter 10

Solutions Manual - Chapter 11

Solutions Manual - Chapter 12

Solutions Manual - Chapter 13

Solutions Manual - Chapter 14

Solutions Manual - Chapter 15

Solutions Manual - Chapter 16

Solutions Manual - Chapter 17

Solutions Manual - Chapter 18

Solutions Manual - Chapter 19

Solutions Manual - Chapter 20

Solutions Manual - Chapter 21

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Modern Principles of Macroeconomics

Sixth Edition

Publication Date: April 15, 2024

Paperback ISBN: 9781319544355

Pages: 576

Teach the Principles of Economics, teach the World, and help students ACHIEVE.

Tyler Cowen