This is presentation of some basic economic ideas for the beginning community college student.

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Macroeconomics provides an introduction to economic principles and market forces including supply and demand, unemployment, inflation, international trade and capital flows, monetary policy and banking, fiscal policy and globalization.

Principles of Macroeconomics is an adaptation of the textbook, Macroeconomics: Theory, Markets, and Policy by D. Curtis and I. Irvine, and presents a complete and concise examination of introductory macroeconomics theory and policy suitable for a first introductory course.

Examples are domestic and international in their subject matter and are of the modern era — financial markets, monetary and fiscal policies aimed at inflation and debt control, globalization and the importance of trade flows in economic structure, and concerns about slow growth and the risk of deflation, are included.

This textbook is intended for a one-semester course, and can be used in a two-semester sequence with the companion textbook, Principles of Microeconomics. The three introductory chapters are common to both textbooks.

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:Calculate the annual rate of inflationExplain and use index numbers and base years when simplifying the total quantity spent over a year for productsCalculate inflation rates using index numbers

By the end of this section, you will be able to:Identify the causes and effects of inflation in various economic marketsExplain the significance of a converging economy

By the end of this section, you will be able to:Explain the structure and organization of the U.S. Federal ReserveDiscuss how central banks impact monetary policy, promote financial stability, and provide banking services

By the end of this section, you will be able to:Explain the various functions of moneyContrast commodity money and fiat money

By the end of this section, you will be able to:Use the aggregate demand/aggregate supply model to show periods of economic growth and recessionExplain how unemployment and inflation impact the aggregate demand/aggregate supply modelEvaluate the importance of the aggregate demand/aggregate supply model

In this chapter, you will learn about:Macroeconomic Perspectives on Demand and SupplyBuilding a Model of Aggregate Demand and Aggregate SupplyShifts in Aggregate SupplyShifts in Aggregate DemandHow the AD/AS Model Incorporates Growth, Unemployment, and InflationKeynes’ Law and Say’s Law in the AD/AS Model