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MACROECONOMICS
BOOK ORGANIZATION
Macroeconomics coverage
reflects the challenge that specific topics and concepts pose for average students.
For instance, the theory of the firm and macroeconomic output and price-level
determination are carefully treated. Simplicity correlates with comprehensiveness,
not brevity.
Our experience suggests it is desirable
to couple analysis with policy. Generally we use a three-step development of
analytical tools: (1) verbal descriptions and illustrations; (2) numerical examples,
and (3) graphical presentation based on the numerical illustrations.
All these considerations led us to organize
the book into five parts: Part 1: An Introduction to Economics and the Economy;
Part 2: National Income, Employment, and Fiscal Policy; Part 3: Money, Banking,
and Monetary Policy; Part 4: Long-Run Perspectives and Macroeconomic Debates;
Part 5: International Economics and the World Economy.
ORGANIZATIONAL ALTERNATIVES
Although instructors generally agree as
to the content of principles of economics course, they often differ as to how
to arrange the material. Macroeconomics provides considerable organizational
flexibility. Previous users tell us they often substantially rearrange chapters
with little sacrifice of continuity.
Similarly, the AD-AS model appears after
two chapters on aggregate expenditures analysis. Those who want to rely exclusively
on AD-AS can omit those two chapters, supplementing the AD analysis with discussion
of investment demand and the multiplier implicit within shifts of the AD curve.
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