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:Identify factors that affect demandGraph demand curves and demand shiftsIdentify factors that affect supplyGraph supply curves and supply shifts

By the end of this section, you will be able to:Calculate the income elasticity of demand and the cross-price elasticity of demandCalculate the elasticity in labor and financial capital markets through an understanding of the elasticity of labor supply and the elasticity of savingsApply concepts of price elasticity to real-world situations