Part 1: The economic way of thinking -- The economic approach -- Some tools of the economist -- Part 2 : Markets and government -- Demand, supply, and the market process -- Demand and supply : applications and extensions -- Difficult cases for the market , and the role of government -- The economics of political action -- Part 3 : Core macroeconomics -- Taking the nation's economic pulse -- Economic fluctuations, unemployment, and inflation -- An introduction to basic macroeconomic markets -- Dynamic change, economic fluctuations, and the AD-AS model -- Fiscal policy : the Keynesian view and the historical development of macroeconomics -- Fiscal policy, incentives, and secondary effects -- Money and the banking system -- Modern macroeconomics and monetary policy -- Macroeconomic policy, economic stability, and the federal debt -- Creating an environment for growth and prosperity -- Institutions, policies, and cross-country differences in income and growth -- Part 4 : International economics -- Gaining from international trade -- International finance and the foreign exchange market -- Part 5 : Applying the basics : special topics in economics -- Government spending and taxation -- The economics of Social Security -- The stock markets : its function, performance, and potential as an investment opportunity -- Keynes and Hayek : contrasting views on sound economics and the role of government -- The Great Recession of 2008-2009 : causes and response -- Lessons from the Great Depression -- Appendix A : General business and economics indicators for the United States -- Appendix B : Answers to selected critical analysis questions.

"Prepare students to apply macroeconomic concepts to the world around them as MACROECONOMICS: PRIVATE AND PUBLIC CHOICE, 16E reflects current economic conditions. This readable book integrates public choice analysis and explains the operation of markets and the political process as well as market failure and government failure. The book emphasizes why it is vital to understand both the market and political processes since approximately 40 percent of national income is allocated through the political process. Up-to-date coverage presents major current macroeconomic models and stresses the difficulties models face in explaining recent economic data. Students analyze the Great Recession of 2008-2009. This book dispels common economic myths and uses the "invisible hand" metaphor to explain economic theory"---www.amazon.com