This title is a Pearson Global Edition. The Editorial team at Pearson has worked closely with educators around the world to include content, which is especially relevant to students outside the United States.   About the Book   A Focused Approach A unified framework uses a single model, built from a set of core economic ideas, to introduce macroeconomic theories and concepts. A balanced presentation of both classical and Keynesian economics allows students to see the complete picture of economic theory, and allows flexibility for professors to teach the course their way. Comprehensive Economics Coverage Coverage of inflation and monetary policy reflects the latest work by researchers and the Federal Reserve. NEW! Graph illustrates the uses-of-saving identity (Chapter 2). NEW! Early coverage of long-­run topics in chapters 3-­7 reflects a commitment to modern macro theory, followed by an equally in-­depth analysis of short-­run issues in chapters 8­-11. NEW! Chapter 3 covers alternative measures of the unemployment rate. NEW! Extended discussion of the global savings glut is included in Chapter 5. NEW! Introduction of the concept of the break-even inflation rate is discussed in Chapter 7. NEW! Chapter 8 discusses the idea that the Great Moderation may not have ended with the Great Recession. NEW! Discussion of the 2008 oil price shock in Chapter 9. NEW! Discussion of the problems that arise if inflation is too low in Chapter 12. NEW! Discussion of the concept of an optimum currency area and whether either the United States or Europe fit the criteria in chapter 13. NEW! Expanded discussion of central banks performing a function as the lender of last resort in Chapter 14. NEW! Expanded discussion of quantitative easing and forward guidance in Chapter 14. NEW! Introduction of the Laffer curve in discussing supply-side economics in Chapter 15.  Learning Aids Learning tools for students aid comprehension and application. Key diagrams in each chapter help students identify the most critical ideas. Summary tables and extensive end­-of­-chapter problem sets help to reinforce learning. Real­-world applications connect theory to practice, helping students make active use of the economic ideas in the text. Applications show students how theory is used to understand real­-world macroeconomic issues. Boxes draw from current research, highlighting interesting new developments and topics in the field. In Touch with Data and Research boxes ask students to find and interpret macroeconomic data, like economists would in their careers. UPDATED! A fully updated series of graphs illustrate the historical movements of key economic variables.   Pearson MyLab Economics not included. Students, if Pearson MyLab Economics is a recommended/mandatory component of the course, please ask your instructor for the correct ISBN and course ID. Pearson MyLab Economics should only be purchased when required by an instructor. Instructors, contact your Pearson representative for more information.   Pearson MyLab Economics is an online homework, tutorial, and assessment program designed to work with this text to engage students and improve results. Within its structured environment, students practice what they learn, test their understanding, and pursue a personalized study plan that helps them better absorb course material and understand di