Macroeconomics

In this seventh edition of the book emphasis has been given to the long-run behavior of the economy. This emphasis is reflected in the greatly expanded coverage of economic growth and in an extended discussion of the intergenerational aspects of budget deficits and of social security. Secondly, more material has been included exploring state-of-the-art research than is customary in undergraduate texts. At the same time, the book's level of difficulty has been reduced by emphasizing concepts over technique. More international examples and more illustrations based on the real-world data have been added in the text. This book is used today not only in the United States but around the world in many languages and far more countries like Canada, Argentina, Albania, Russia etc.