Macroeconomics: Principles and Practice offers students concepts, intuition and understanding, supported by an ‘Economist's toolkit’. This Toolkit consolidates appendix-style material into one section to show in a simple manner how calculations and models are used in the real world. This edition follows the same intuitive modular approach as the last and includes guidelines for instructors who prefer alternative, more traditional sequencing.
Microeconomics concepts are explored throughout the text where needed, such as when reference is made to ‘supply and demand’. New chapters present macroeconomic theory more intuitively. Policy debates are explained in depth but in a simple and more modern way. The focus is on understanding concepts in a realistic context.

1. Macroeconomics: the big picture
2. Macroeconomics: getting started
3. Measuring gross domestic product
4. Long-term economic growth
5. Labour and the macroeconomy
6. Money, banks and trend inflation
Part 2 – Economic fluctuations: theory and policy
7. Understanding economic fluctuation
8. The aggregate expenditure model
9. Monetary policy: an overview
10. Macroeconomics in motion
11. The economic fluctuations model
12. Fiscal policy: strategic issues
13. Fiscal policy: analytical issues
Part 3 – The international dimension
14. International trade in perspective
15. International finance
16. Economic development
Economist’s toolkit
Glossary
Symbols and abbreviations (IBC)
Index

Macroeconomics: Principles and Practice offers students concepts, intuition and understanding, supported by an ‘Economist's toolkit’. This Toolkit consolidates appendix-style material into one section to show in a simple manner how calculations and models are used in the real world. This edition follows the same intuitive modular approach as the last and includes guidelines for instructors who prefer alternative, more traditional sequencing. Microeconomics concepts are explored throughout the text where needed, such as when reference is made to ‘supply and demand’. New chapters present macroeconomic theory more intuitively. Policy debates are explained in depth but in a simple and more modern way. The focus is on understanding concepts in a realistic context. More ‘real life’ examples are included to add a sense of context for students. Reorganisation and expansion of the monetary policy, banking and external sector chapters keeps the content relevant for contemporary economics courses. New! Case Study box in 3 chapters to engage students and deepen their knowledge. Learning objectives to give students broad outline of what the chapter will cover. Bold key terms with margin definitions for immediate clarification of macroeconomics terminology Margin notes highlights tips, reminders, key points and a reminder to log in to relevant online resources to help students Review boxes appear at the end of each major section to summarise the key points in abbreviated form as the chapter evolves; these are useful for preliminary skim reading as well as for review. Economics in action boxes examine current issues and debates, and also give examples of recent news stories relating to economic concepts. 'Drilling Deeper’ box provides a closer look at key questions and issues in macroeconomics.