Introduction -- The basics of supply and demand, and a big picture -- Measuring GDP and inflation -- Unemployment -- The role of aggregate demand -- The supply side -- Growth and productivity -- The money supply -- The monetarist rule -- Monetary policy and interest rates -- Real-versus-nominal interest rates -- Stagflation -- The balance of payments -- Policy in an open economy -- Purchasing power parity -- Interest-rate parity -- Appendix A: Answers to sample exam questions -- Appendix B: Answers to even-numbered exercises -- Glossary.
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This text offers an alternative to the encyclopedic, technically oriented approach taken by traditional textbooks on macroeconomic principles. The goal is not to teach students to shift curves on diagrams but to help them understand fundamental macroeconomic concepts and their real-world applications.
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