A Primer on Macroeconomics, Volume I: Elements and Principles

This two-volume text represents a common sense approach to basic macroeconomics. Economics, far from being the dismal science, offers us valuable lessons that can be applied to our everyday experiences.

At its heart, economics is the science of choice and a study of economic principles allows us to achieve a more informed understanding of how we make our choices; whether these choices occur in our everyday life, our work environment, or at the national or international level.

This two-volume text represents a common sense approach to basic macroeconomics. Volume one, Elements and Principles, delivers clear statements of essential economic principles, supported by easy to understand examples, and uncluttered by extraneous material; the goal is to provide a concise readable primer that covers the substance of macroeconomic theory.

This book covers

• opportunity cost;
• the rationale for trade and exchange rates;
• the economist's basic demand and supply model;
• the efficient operation of competitive markets;
• important tools used to measure the macroeconomy;
• and the causes and effects of inflation and unemployment.

Thomas M. Beveridge has been teaching students the principles of macroeconomics for over 30 years. Currently, he is an instructor of economics at Durham Technical Community College in North Carolina. He received an award for Teaching Excellence while at North Carolina State University, and holds dual master's degrees in economics and in education from the University of Dundee in the United Kingdom; in addition, he has undertaken PhD studies at the University of North Carolina at Chapel Hill. He has had published student learning and teaching materials, has acted as a reviewer for several major principles of economics textbooks, and has authored an innovative audio presentation of principles of economics for VangoNotes.