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*PRE-ORDER, APPROX 4-6 BUSINESS DAYS* Macroeconomics 18th Edition by James D. Gwartney 9798214041407 [ZZ]

*PRE-ORDER, APPROX 4-6 BUSINESS DAYS* Macroeconomics 18th Edition by James D. Gwartney 9798214041407 [ZZ]

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$199.95
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Private and Public Choice. Paperback, Cengage

Gwartney/Stroup/Sobel/Macpherson’s “Macroeconomics: Private and Public Choice” 18th Edition, emphasizes on the role of entrepreneurship in a market economy, institutions in economic growth and the importance of public choice analysis. Entrepreneurship is presented as key to how the competitive market, using innovations and creative destruction to improve living standards. Institutions and policies consistent with long-run growth are examined. Public choice analysis clarifies voter, politician and bureaucrat incentives, impacting political outcomes and affecting prosperity. Basic economic thinking shows how wealth is created through the invisible hand of the market. Federal Reserve policy changes, government debt and other factors are highlighted, including issues such as the Great Depression, the Great Recession and the stock market. Online resources reinforce content.

What's New

  • Coverage of key entrepreneurial examples highlights the contributions of a diverse group of several entrepreneurs -- ranging from Steve Jobs to Kendra Scott, Taylor Swift, Henry Ford and Malcom McLean -- allowing students to understand how the economic process of creative destruction touches their lives directly. New and expanded coverage includes analysis of current topics such as student loans, AI, inflation, Federal Reserve policy changes, the national debt and growing interest and international trade and its importance for economic growth.

Features

  • PRACTICAL APPROACH APPLIES ECONOMIC THEORY TO CURRENT ISSUES AND CONTROVERSIES. Students see the relevance of the theories they are learning as they apply what they learn directly to current topics in the world around them. The importance of incentives and the economic way of thinking are stressed throughout the analysis. A set of special topic chapters applies these concepts to a variety of topics, including the stock market, the Great Depression and the Great Recession and the contrasting views of Keynes and Hayek.
  • ENGAGING CONTENT HIGHLIGHTS ECONOMIC THINKING ABOUT GOVERNMENT. Students examine today’s government involvement and decisions from a unique economic perspective as they review the latest information as well as historic data using the tools of public choice covered in a dedicated chapter and integrated throughout the text.
  • EMPOWERING STUDENTS WITH ENTREPRENEURIAL INSIGHTS. Students explore the contributions of a diverse variety of entrepreneurs who have shaped markets and created new opportunities for wealth and job creation. Students gain practical knowledge about innovation, risk-taking and wealth creation through these real-world examples in today’s dynamic global business marketplace.
  • COMPREHENSIVE ANALYSIS OF INTERNATIONAL TRADE EXAMINES ITS IMPACT TODAY. Students carefully review international trade's influence on growth and nations' prosperity throughout today's world. They examine empirical evidence on the importance of international trade as a source of economic growth and higher living standards and review the ramifications of enacting tariffs or other barriers on international trade.
  • HISTORICAL VIGNETTES HIGHLIGHT THE LIVES OF NOTABLE ECONOMISTS. Students see the significance of economic history and the many individuals who have contributed to our understanding of economic theory through an information-rich set of boxed features. The economists featured include both historical and modern economists, ranging from Adam Smith and Douglass North to Thomas Sowell and Elinor Ostrom.
  • ILLUMINATING THE DYNAMICS OF THE MARKET PROCESS. In addition to the usual static analysis of demand, supply and price determination, students examine the dynamics of the market process and the types of institutions that support economic growth and prosperity. Insights into the important roles of prices, profits and losses, the invisible hand, property rights, contestable markets, creative destruction, innovation and economic freedom allow students to gain a more realistic understanding of how markets function and evolve.
  • UNDERSTANDING BOTH MACROECONOMIC STABILITY AND LONG RUN GROWTH. After examining key macroeconomic indicators such as real GDP, the unemployment rate and inflation and delving into the meaning and relevance of these subjects to their daily lives, students are exposed to how government fiscal and monetary policy influence both short-run economic stability and long-run economic growth. Chapters on the topics of economic development and the institutional environment for growth and prosperity provide balanced coverage to include both short-run and long-run macroeconomic issues.
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