When asked to describe this text, most Lipsey readers use the same precise. The authors do not gloss over subjects when presenting economic ideas; rather, they offer a patient explanation of the concept and back it up with the latest research and data. Taken separately, neither theory nor data alone can give readers a true understanding of the idea, but when combined these elements give students a complete view of economics in the real world.
What is Economics?: Economic Issues and Concepts; How Economists Work. An Introduction to Demand and Demand, Supply, and Price; Elasticity. An Introduction to What Macroeconomics Is All About; The Measurement of National Income. The Economy in the Short The Simplest Short-Run Macro Model; Adding Government and Trade to the Simple Macro Model; Aggregate Supply and Aggregate Demand in the Short Run. The Economy in the Long From the Short Run to the Long The Adjustment of Factor Prices; The Difference Between Short-Run and Long-Run Macroeconomics; Long-Run Economic Growth. Money, Banking, and Monetary Money and Banking; Money, Interest Rates, and Economic Activity; Monetary Policy. Macroeconomic Problems and Inflation and Disinflation; Unemployment Fluctuations and the NAIRU; Government Debt and Deficits. The United States in the Global The Gains from International Trade; Trade Policy; Exchange Rates and the Balance of Payments.