Daniel Richards, PhD, is a professor of economics at Tufts University. He received his PhD from Yale University.

Manzur Rashid, PhD, has taught economics at University College London and Cambridge University.

Peter Antonioni is a senior teaching fellow at University College London.

Introduction 1

Part 1: Getting Started with Macroeconomics 5

CHAPTER 1: Discovering Why Macroeconomics Is a Big Deal 7

CHAPTER 2: Looking at Key Questions and Concepts 27

CHAPTER 3: The Short Run and the Long Run 43

Part 2: Measuring the Things That Matter 59

CHAPTER 4: Adding Up Gross Domestic Product 61

CHAPTER 5: Facing the Fact of Increasing Prices: Inflation 81

CHAPTER 6: Thinking About Interest Rates 103

CHAPTER 7: Unemployment: Wasting Talent and Productivity 125

Part 3: The Long-Run Macro Economy 145

CHAPTER 8: GDP Growth in the Long Run 147

CHAPTER 9: Long-Run Prices and Interest Rates 163

Part 4: Modeling the Short-Run Macro Economy 181

CHAPTER 10: Working Out a Country's Economic Demand 183

CHAPTER 11: Determining How Much Stuff an Economy Produces 201

CHAPTER 12: Using the AD-AS Model to Analyze Economic Shocks 217

Part 5: Examining Macroeconomic Policy 239

CHAPTER 13: Macroeconomic Policies for the Long Run 241

CHAPTER 14: Monetary Policy and the Short-Run Economy 257

CHAPTER 15: Fiscal Policy: Balancing the Books - Perhaps 275

CHAPTER 16: Unemployment and Inflation: The Phillips Curve 295

Part 6: Understanding the Financial Crisis 315

CHAPTER 17: Strengths and Weaknesses of the Financial System 317

CHAPTER 18: Learning from the 2007-08 Financial Crisis 335

Part 7: The Part of Tens 355

CHAPTER 19: Getting to Know Ten Great Macroeconomists 357

CHAPTER 20: Ten Top Tips to Take Away 367

Index 375