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Macroeconomics: Theory and Applications, 2nd Edition
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Overview
Introduce your students to fundamental topics in macroeconomic research and policy with Lester’s “Macroeconomics: Theory and Applications,” 2nd Edition. Requiring no prerequisite knowledge beyond principles of macroeconomics, this text provides an accessible overview of models of economic growth, consumption savings, labor supply, and more.
Offering different types of assessment, including in-chapter knowledge checks and solutions, end-of-chapter review questions and problems, and several types of online resources, this edition helps students build their understanding while reinforcing course concepts.
- Students learn about AI’s impact on business and engage with AI use in economics through hands-on, scenario-based modules that teach them how to use AI in the workplace.
- Data Exploration Activities give students hands-on experience with real data, teaching them the basics of analyzing graphs and data.
- Provides an up-to-date treatment of modern macroeconomic models in a way that’s accessible to undergraduate and Master of Business Administration students.
- Chapter applications focus on data and contemporary economic research.
- Students can verify their understanding through knowledge checks in each chapter, with solutions provided at the end.
- Questions for review and problem sets are included at the end of each chapter, with solution sets provided as an instructor resource.
- Auto-graded, algorithmic, and randomized end-of-chapter assessment and data-centric lab activities are available in MindTap, Cengage’s learning platform.
Part I: Growth.
1. Defining and Measuring GDP.
2. Economic Performance in Historical Perspective.
3. The Solow Model of Economic Growth.
4. Beyond Factor Accumulation.
Part II: Classical Theory.
5. Money, Prices, and Nominal Interest Rates.
6. Saving, Investment, and the Real Interest Rate.
7. International Trade and the Macroeconomy.
8. Labor Markets.
9. Government Spending and the Macroeconomy.
Part III: Business Cycles.
10. Introduction to Business Cycles.
11. The IS-MP Model.
12. The IS-MP-AS Model.
13. IS-MP-AS in the Open Economy.
Part IV: Banking and Financial Markets.
14. Banking and the Macroeconomy.
15. Bonds, Stocks, and Monetary Policy.
Mathematical Appendix.
1. Defining and Measuring GDP.
2. Economic Performance in Historical Perspective.
3. The Solow Model of Economic Growth.
4. Beyond Factor Accumulation.
Part II: Classical Theory.
5. Money, Prices, and Nominal Interest Rates.
6. Saving, Investment, and the Real Interest Rate.
7. International Trade and the Macroeconomy.
8. Labor Markets.
9. Government Spending and the Macroeconomy.
Part III: Business Cycles.
10. Introduction to Business Cycles.
11. The IS-MP Model.
12. The IS-MP-AS Model.
13. IS-MP-AS in the Open Economy.
Part IV: Banking and Financial Markets.
14. Banking and the Macroeconomy.
15. Bonds, Stocks, and Monetary Policy.
Mathematical Appendix.
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