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 the nature and causes of unemploymentAnalyze the natural rate of unemployment and the factors that affect itIdentify how undeveloped labor markets can result in the same hardships as unemployment

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

By the end of this section, you will be able to:Explain the Phillips curve, noting its impact on the theories of Keynesian economicsGraph a Phillips curveIdentify factors that cause the instability of the Phillips curveAnalyze the Keynesian policy for reducing unemployment and inflation

By the end of this section, you will be able to:Discuss why and how economists measure inflation expectationsAnalyze the impacts of fiscal and monetary policy on aggregate supply and aggregate demandExplain the neoclassical Phillips curve, noting its tradeoff between inflation and unemploymentIdentify clear distinctions between neoclassical economics and Keynesian economics

With this free video resource, students will explore the economic way of thinking, and the role incentives play in all our lives through engaging Hollywood production style videos.

Educators can use MRU's videos in a variety of ways, to include “flipping” the classroom, as study aids, supplementary material, concept reinforcement, or even as a full course offering.

In MRU's Principles of Macroeconomics course, we’ll cover fundamental questions such as: Why do some countries grow rich while others remain poor? How important is a country’s banking system — and what happened during the recent financial crisis? How did Zimbabwe end up with an inflation rate that rose into the quadrillions?

We’ll also cover important topics like the Federal Reserve, monetary policy, fiscal policy, the Solow Growth Model, institutional analysis, the “economics of ideas,” and more.

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What is Marginal Revolution University (MRU)?

Many of us can remember our first great economics teacher who fundamentally changed how we see the world. At MRU, we try and deliver that experience to millions worldwide through video.

Founded as a nonprofit in 2012 by George Mason University economics professors Tyler Cowen and Alex Tabarrok, MRU is building the world’s largest online library of free economics education videos -- currently weighing in at more than 800 videos.