This text presents a clear and accurate introduction to macroeconomics. This edition features material on the economics of the information age, has a revised treatment of international economics and uses real-world examples to discuss concepts.

Part One. Basic Concepts. Chapter 1. The Fundamentals of Economics. Appendix 1. How to Read Graphs. Chapter 2. Markets and Government in a Modern Economy. Chapter 3. Basic Elements of Supply and Demand. Part Two. Macroeconomics: The Study of Growth and Business Cycles. Chapter 4. Overview of Macroeconomics. Appendix 4. The Data of Macroeconomics. Chapter 5. Measuring Economic Activity. Chapter 6. Consumption and Investment. Chapter 7. Business Fluctuations and the Theory of Aggregate Demand. Chapter 8. The Multiplier Model. Chapter 9. Money, Banking, and Financial Markets. Chapter 10. Central Banking and Monetary Policy. Part Three. Economic Growth and Macroeconomic Policy. Chapter 11. The Process of Economic Growth. Chapter 12. The Challenge of Economic Development. Chapter 13. Exchange Rates and the International Financial System. Chapter 14. Open-Economy Macroeconomics. Part Four. Unemployment, Inflation and Economic Policy. Chapter 15. Unemployment and the Foundations of Aggregate Supply. Chapter 16. Ensuring Price Stability. Chapter 17. The Warring Schools of Macroeconomics. Chapter 18. Policies for Growth and Stability.