Major attention given to the decoupling of the price level and the inflation rate from variations in GDP and unemployment that occurred when the policy of inflation targeting was successfully adopted in the 1990s by many of the major developed countries, a decoupling that is rare in the macro theory and in macro text books. Comprehensive coverage of the financial crisis and subsequent changes to the global economic landscape allows students to apply the economics they are learning to important contemporary issues. The authors provide a consistent theoretical framework and relate it to a wide range of applied material making clear the relevance of the subject to the real world of business and policy. New and updated global case studies give a broad, international perspective on economics and encourage readers to develop and contextualise their understanding of core themes. Problem solving and numerical questions encourage readers to develop analytical skills. New to this edition Fully revised chapter on fiscal and monetary policy brings students up to date with key, real policy questions that have parallels in most major economies. Greater coverage of quantitative easing and fiscal retrenchment enables students to understand current macro policy dilemmas. A new chapter outlining the facts, and developing the theory needed to handle, the most profound change in economic policy and performance in the last 50 years: the successful adoption of a regime of inflation targeting. An innovative macro section which teaches the theory as explaining three actual inflationary regimes: firstly the gold standard and Bretton Woods in which the inflation expectations were firmly anchored at, or close to, zero is covered by the basic macro that everyone must learn; secondly the period of ragged inflation which is covered by the standard extensions to cover inflation expectations; and thirdly the period of inflation targeting from 1992 to today which provides the context for the new chapter developing the variations of the basic model that are appropriate to a world in which inflation is successfully targeted at a low and fully expected rate. Fully updated, but maintaining its rigorous approach, the thirteenth edition of Economics guides students through the core principles of micro and macroeconomics, building firm foundations of understanding. Clear explanations ensure that students master each key concept before practical illustrations show how these ideas are applied in reality. Each topic is made easy to grasp through the use of plain and accessible language, without unnecessary over-simplifying. Varied learning features support and stretch students, allowing them to monitor their progress and test themselves with a range of question styles. Written to engage students with real world issues and current questions in economics, this book provides up-to-date coverage of the financial crisis and its many subsequent implications, which are vital to understanding the current economic climate. Case studies allow students to understand how economics works in practice, and to think critically for themselves. Economics challenges students to achieve their full potential as they engage with its in-depth analysis and applied material. It leaves students confident and competent, with a thorough knowledge of economics . The Online Resource Centre accompanying the book includes: For students: - Self-test questions - Additional chapters - Web links - Flashcard glossary - Authors' blog For lecturers: - PowerPoint slides - Instructor's manual - Test bank - Figures from the text
- ISBN: 978-0-19-967683-5
- Editorial: OXFORD UNIVERSITY PRESS.
- Encuadernacion: Rústica
- Páginas: 752
- Fecha Publicación: 01/09/2015
- Nº Volúmenes: 1
- Idioma: