Foundations of Macroeconomics, Global Edition

Robin Bade was an undergraduate at the University of Queensland, Australia, where she earned degrees in mathematics and economics. After a spell teaching high school math and physics, she enrolled in the Ph.D. program at the Australian National University, from which she graduated in 1970. She has held faculty appointments at the University of Edinburgh in Scotland, at Bond University in Australia, and at the Universities of Manitoba, Toronto, and Western Ontario in Canada. Her research on international capital flows appears in the International Economic Review and the Economic Record. Robin first taught the principles of economics course in 1970 and has taught it (alongside intermediate macroeconomics and international trade and finance) most years since then. Michael Parkin studied economics in England and began his university teaching career immediately after graduating with a B.A. from the University of Leicester. He learned the subject on the job at the University of Essex, England's most exciting new university of the 1960s, and at the age of 30 became one of the youngest full professors. He is a past president of the Canadian Economics Association and has served on the editorial boards of the American Economic Review and the Journal of Monetary Economics. His research on macroeconomics, monetary economics, and international economics has resulted in more than 160 publications in journals and edited volumes, including the American Economic Review, the Journal of Political Economy, the Review of Economic Studies, the Journal of Monetary Economics, and the Journal of Money, Credit, and Banking. He is author of the best-selling textbook, Economics (Pearson).

• PART 1: INTRODUCTION1. Getting Started2. The U.S. and Global Economies3. The Economic Problem4. Demand and Supply  PART 2: MONITORING THE MACROECONOMY5. GDP: A Measure of Total Production Income6. Jobs and Unemployment7. The CPI and the Cost of Living  PART 3: THE REAL ECONOMY8. Potential GDP and the Natural Unemployment Rate9. Economic Growth10. Finance, Saving, and Investment  PART 4: THE MONEY ECONOMY11. The Monetary System12. Money, Interest, and Inflation  PART 5: ECONOMIC FLUCTUATIONS13. Aggregate Supply and Aggregate Demand14. Aggregate Expenditure Multiplier15. The Short-Run Policy Tradeoff  PART 6: PRICES, PROFITS, AND INDUSTRY PERFORAMANCE16. Fiscal Policy17. Monetary Policy18. International Trade Policy19. International Finance