Part 1: Introduction and Key Principles 1. Introduction: What Is Economics? 2. The Key Principles of Economics 3. Exchange and Markets 4. Demand, Supply, and Market Equilibrium Part 2: The Basic Concepts in Macroeconomics 5. Measuring a Nation's Production and Income 6. Unemployment and Inflation Part 3: The Economy in the Long Run 7. The Economy at Full Employment 8. Why Do Economies Grow? Part 4: Economic Fluctuations and Fiscal Policy 9. Aggregate Demand and Aggregate Supply 10. Fiscal Policy 11. The Income-Expenditure Model 12. Investment and Financial Markets Part 5: Money, Banking, and Monetary Policy 13. Money and the Banking System 14. The Federal Reserve and Monetary Policy Part 6: Inflation, Unemployment, and Economic Policy 15. Modern Macroeconomics: From the Short Run to the Long Run 16. The Dynamics of Inflation and Unemployment 17. Macroeconomic Policy Debates Part 7: The International Economy 18. International Trade and Public Policy 19. The World of International Finance

For Principles of Macroeconomics courses. Macroeconomics: Principles, Applications, and Tools, is also suitable for economists, financial analysts and other finance professionals. Questions that drive interest, applications that illustrate concepts, and the tools to test and solidify comprehension. Students come into their first Economics course thinking they will gain a better understanding of the economy around them. Unfortunately, they often leave with many unanswered questions. To ensure students actively internalize economics, O'Sullivan/Sheffrin/Perez use chapter-opening questions to spark interest on important economic concepts, applications that vividly illustrate those concepts, and chapter-ending tools that test and solidify understanding.