Moore McDowell,
University College Dublin Rodney Thom,
University College Dublin Robert Frank,
Cornell University Ben Bernanke,
Princeton University
ISBN: 0077121694 Copyright year: 2010
Feature Summary
New edition is based on around the 7 core principles that are covered in the Frank and Bernanke text. These are introduced early on and then woven in throughout the text.
Takes an Economic Naturalist approach: uses basic economic principles to help understand and explain what you see in the world around you.
Larger graphs and figures complement a new text design which gives the book a more accessible feel.
The math remains rigourous but is placed in separate boxes so it can be used or skipped depending on personal preference.
Greater coverage of The Phillips Curve and ISLM.
Microeconomics
Extended treatment of the principle of comparative advantage and specialisation, and its links to economic growth and the gains from trade based on specialisation and exchange.
Inclusion, on an optional basis, of rigorous analysis of consumer demand and of profit maximization.
Improved material on the elements of game theory and on the economics of information.
Theoretical and case study analysis of how firms (and regulators) operate in oligopolistic markets.
The section on trade and integration that ended the microeconomics part of the previous edition has been removed.
The basic elements of market analysis have been brought together into one chapter, rather than treating them as separate subjects.
Elements of game theory and strategic choice are placed separately from consideration of oligopoly.
Macroeconomics
Modular presentation: Part 7, “Macroeconomics: Data and Issues,” is a self-contained group of chapters that covers measurement issues relating to GDP, the price level and the labour market.
A revised presentation of long-run growth and productivity is included.
A more comprehensive treatment of the Keynesian model.
Refinements in the presentation of Aggregate Demand and Aggregate Supply.