Macroeconomics

This fourth edition of a university-level economics text is presented as its most thorough revision so far. It walks through contemporary economic theory in an organized sequence, using worked examples, diagrams and stepwise explanations to tie theory to real policy choices. Aggregate supply and aggregate demand form a central thread, and the revision adds fresh material on unemployment, inflation, economic growth, productivity, and fiscal and monetary policy.

The book also covers applied microeconomics across a broad range of areas, including agriculture, natural resources, government regulation, and the relationship between politics and economic outcomes. Each chapter is supported by key concepts, key terms and summaries of its main points, along with running glossaries, many charts, graphs and tables, and problems at the end of each chapter for practice.