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 demand, quantity demanded, and the law of demandIdentify a demand curve and a supply curveExplain supply, quantity supplied, and the law of supplyExplain equilibrium, equilibrium price, and equilibrium quantity

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:Explain supply and demand for exchange ratesDefine arbitrageExplain purchasing power parity's importance when comparing countries.

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

By the end of this section, you will be able to:Explain crowding out and its effect on physical capital investmentExplain the relationship between budget deficits and interest ratesIdentify why economic growth is tied to investments in physical capital, human capital, and technology