Macroeconomics

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Macroeconomics is a one-semester product that presents the theory and core concepts for evaluating important macro questions about economics. We feature a panel of leading experts that explains economic principles in compelling ways and with meaningful, real-world examples. We reinforce concept explanations with rich, interactive media, and present a learning design model that promotes personal application and information mastery. As with our other media books, Macroeconomics comes in pre-packaged versions that are optimized for traditional, hybrid, and online courses.

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Product Information

Our Authors

We create our product content using a Panel of Experts, with each lesson author focusing on his or her specific area of expertise. This translates to concept explanations and presentations that represent a broader set of experiences and perspectives than those found in traditional textbooks or courseware. Our Panel of Experts for Macroeconomics includes:

Per Bylund, Oklahoma State University
Kevin Greer, University of Oklahoma
Joshua Hall, West Virginia University
Peter Klein, Baylor University
Robert Lawson, Southern Methodist University
Michael Munger, Duke University
Benjamin Powell, Texas Tech University
Rich Vedder, Ohio University

Instructor Supplements

At EdBooks, our commitment is to help faculty members create and deliver their ideal personal teaching solution, regardless of the learning context. This commitment includes learning design consultations, content recommendations and curation, and assistance with product customization. We also provide instructor-specific materials to support faculty in the preparation and delivery of their courses. These supplements include:

  • Sample syllabi for traditional, hybrid, and online courses
  • Instructor overview and suggestions for each lesson
  • Guide to supplemental resources for each lesson
  • Powerpoint presentation slides for each lesson
  • Alternate activities for each lesson
Table of Contents

LESSON 1: Public Policy & Macro-Economy: Goals and Measurement
Eliminating absolute poverty
Maximizing material prosperity
Maximizing material equality
Providing societal stability by limiting creative destruction
Facilitating human flourishing

LESSON 2: A Systems View of the Global Economy
Emergent order
Numerous interconnected markets
Role of the nation-state

LESSON 3: Economic Growth
Split countries—Korea and Germany
Solow Model
Exogenous or endogenous growth?
Institutions and growth

LESSON 4: The Business Cycle
History of business cycles
Theories of the business cycle
Inevitability of business cycles

LESSON 5: Work
Vital for economic output
Vital for human flourishing
The War against work
-Welfare state
-Over-education
-Societal attitude to “menial” labor

LESSON 6: Regulating International Trade
Tariffs and subsidies
Special interest rents
Mercantilism
Free trade
Fair Trade

LESSON 7: Money
A barter economy
The mutual coincidence of wants
Characteristics of money
Inflation
Commodity money vs. fiat money

LESSON 8: The Financial System
Banking
Capital markets
Insurance
Regulation

LESSON 9: Monetary Policy
The Federal Reserve and “fine tuning” of the economy
IS-LM model
Problems with the Federal Reserve
-Inflation
-Exchange rate manipulation

LESSON 10: Government Spending: For What?
Protection goods (person and property)
Public goods
Opportunity goods
Security goods
Welfare state

LESSON 11: Government Spending: What’s the Point?
Benefits to economy
Cost to economy
Optimal amount
Optimal composition

LESSON 12: Efficient and Inefficient Taxation
Taxes at the local level
Taxes at the regional or state level
Taxes at the national level

LESSON 13: Market Failure and Government Failure
Markets and governments as imperfect systems
Four kinds of market failures
Government incentive problems
Government’s information problem
Government’s democratic coherence problem

LESSON 14: Industrial Policy
Logic and tools of industrial policy
History outside the US
History in the US
Industrial policy and the hubris of the central planner
Industrial policy and cronyism

LESSON 15: Property Rights and Rule of Law
The source of property rights
Regulation of property rights
Where do property rights come from?
Understanding “rule of law”?
Economic and moral benefits

LESSON 16: Regulation: The Seen, Unseen, and Unrealized
When intervention might be justified
Benefits of regulation need to be significant because costs are high
-Paperwork
-Misallocation of resources
-Missed innovation
No regulation as the default position

LESSON 17: Labor
Economic liberty of the worker
Wages
Health and safety issues
Occupational licensing
Unions: closed shops and mandatory collective bargaining

LESSON 18: Externalities
Negative externalities and market failure
Methods of regulating externalities
Cost-benefit analysis of externality regulation
Positive externalities and market failure

LESSON 19: Transaction Costs and Information Problems
Asymmetric information
Reducing transaction costs by standardizing transactions
Commercial law and warranties
Limits on deceptive/misleading information
Protecting the public or infringing on the public’s freedom of contract?

LESSON 20: Monopoly and Cartels
Monopoly problems: high Prices, low quality, and limited innovation
Power and/or behavior for antitrust laws
Is private monopoly defendable long-term?
Cronyism and government-conferred monopoly power

LESSON 21: Regulation of Networks and Natural Monopolies
What’s a Natural Monopoly?
How to regulate a natural monopoly
Network economies
How to regulate a network

LESSON 22: Regulating Moral and Social Order
History
Protecting social order or social engineering?
Social order and social pluralism
Current Issues
-Non-discrimination in employment
-Freedom of conscience
-Recreational drugs

LESSON 22: Corporate Governance
Who runs the corporation?
Critique of stakeholder theory
Problem: public company without major shareholders
Problem: political voting by public pensions

LESSON 24: Corporate Social Responsibility
Natural monopoly: a definition
Voluntary corporate “social responsibility”
-Knowledge and specialization problems with doing “good”
-How to define “good”?
Government limits on forcing business to do good
-Impracticalities
-Personal definitions of “good” and “evil”

Price to Students
With EdBooks Economics, students pay one price and learn for life. A one-time fee of $75 for a standard mediabook grants students access to all their materials for the duration of a course, as well as ongoing access after they complete a course and leave the institution. Through the EdBooks Library, students will continue their lifelong learning journey with free access to their course content, as well as any updates we make to the curriculum. The EdBooks Library also supports community interaction and resource contributions by its members.
How to Adopt

Adopting an EdBooks product is easy. Simply contact us via e-mail at sales@edbooks.pub. We’ll follow up immediately to help you get started.

Wasy to Customize

We design each or our mediabooks, from the ground up, for customization. Our content is modular and can be reorganized or augmented easily. Here are some of the ways you can customize your content:

-Resequence lessons in your media book, or swap out lessons with another mediabook in the EdBooks library
-Work with our Learning Design team to create your own lessons using our EdBooks templates
-Modify lessons by omitting select content or assignments
-Modify lessons by adding your own content such as text, video, activities, quizzes, and discussions
-Select from alternate assignments provided by our Content team

Product Demo

We’ve created a lesson demo to let you experience, firsthand, the advantages of our product’s content and learning design.  Fill out this demo request for a guided overview from one of our staff.

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