Principles of Macroeconomics

Building on the success of The Principles of Business Economics and The Essence of the Economy by the same authors, this new text provides comprehensive coverage of the core principles of macroeconomics and explains how these macroeconomic concepts relate to government policy-making and the implications for the business environment. User friendly, jargon-free and comprehensive in its approach, this book provides an in-depth analysis and explanation of macroeconomic theory and practice. The book illustrates how developments in the wider economy impact on government, business and consumers. It identifies the various policy options open to governments in their efforts to manage the economy and why different governments adopt different policies. Clear and concise principles are presented with respect to fiscal policy, monetary policy, supply-side policy, trade and exchange rate policies. It provides a clear understanding of the dynamics within the economy, explaining, for example, what happens when interest rates go up or the exchange rate depreciates.