Principles of Macroeconomics: An Evolutionary Approach

The book uses the historical evolution of the science plus microeconomic concepts of supply and demand to analyze economic business cycles, economic growth, and economic crises. The development of Macroeconomics into Neoclassical and Keynesian Schools occurred during the Great Depression. The book covers the Great Depression of the 1930s, the Great Recession of 2008-2009, the change in Federal Reserve policy after 2008, and the Covid-19 global pandemic. It analyzes these fundamentals and views government policy in terms of optimal social insurance.

Note: The Federal Reserve Bank of St. Louis has replaced Econlowdown as of Jan 1, 2026 with FRE that has modules that can be uploaded into Canvas. I am using it. It replaces Econlowdown but has similar modules.

• questions at the end of each chapter
• an online learning system with interactive example questions through Scheid's Study Guide