Macroeconomics students often struggle to see how macroeconomic models fit into the big picture. This text uses a unified approach based on a single economic model that presents a clean introduction to classical and Keynesian assumptions.

This Global Edition has been edited to include enhancements making it more relevant to students outside the United Ststes. The editorial team at Pearson has worked closely with educators around the globe to include:

New! Applications:
   - The Idiosyncrasy of Singapore Aggregate Consumption
   - How Serious Is Foreign Debt in Egypt and Developing Countries?
   - South Africa's Social Security System
   - The production Function of the Australian Economy and Australian Productivity Growth

New! In Touch with Data and Research boxes:
   - Global Comparisons Between the CPI and Core Inflation
   - The Lucas Applied to Examples From Egypt and Saudi Arabia

Part 1 : Introduction
Part 2 : Long-Run Economic Performance
Part 3 : Business Cycles and Macroeconomic Policy
Part 4 : Macroeconomic Policy : Its Environment and Institutions