Principles of Macroeconomics 2e covers the scope and sequence of most introductory economics courses. The text includes many current examples, which are handled in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts. The second edition has been thoroughly revised to increase clarity, update data and current event impacts, and incorporate the feedback from many reviewers and adopters.Changes made in Principles of Macroeconomics 2e are described in the preface and the transition guide to help instructors transition to the second edition.

By the end of this section, you will be able to:Explain and analyze various arguments that are in support of restricting imports, including the infant industry argument, the anti-dumping argument, the environmental protection argument, the unsafe consumer products argument, and the national interest argumentExplain dumping and race to the bottomEvaluate the significance of countries’ perceptions on the benefits of growing trade

By the end of this section, you will be able to:Explain protectionism and its three main formsAnalyze protectionism through concepts of demand and supply, noting its effects on equilibriumCalculate the effects of trade barriers