Macroeconomics: Theory, Markets, and Policy

An Open Textbook
D. Curtis and I. Irvine
Edited by Lyryx Learning
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Macroeconomics: Theory, Markets, and Policy by D. Curtis and I. Irvine provides complete, concise coverage of introductory macroeconomics theory and policy.

The textbook observes short-run macroeconomic performance, analysis, and policy motivated by the recessions of the early 1980s and 1990s, the financial crisis and recession of 2008-2009, and the prolonged recovery in most industrial countries.

A traditional Aggregate Demand and Supply (AD-AS) model is introduced, and a basic modern AD-AS model is developed.

Numerical examples, diagrams, and basic algebra are used in combination to illustrate and explain economic relationships. Students learn about: the importance of trade flows, consumption, and government budgets; money supply; financial asset prices, yields, and interest rates; employment and unemployment; and other key relationships in the economy. Canadian and selected international data are used to provide real world examples and comparisons.

This textbook is intended for a one-semester course, and can be used in a two-semester sequence with the companion textbook, Microeconomics: Markets, Methods, and Models. The three introductory chapters and the International Trade chapter (Chapter 15) are common to both textbooks.