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Macroeconomics for AP®

Second Edition ©2015 Margaret Ray; David A. Anderson; Paul Krugman

Krugman’s Macroeconomics for AP® second edition is designed to be easy to read and easy to use. This book is your ultimate tool for success in the AP® Macroeconomics course and Exam.

The text combines the successful storytelling, vivid examples, and clear explanations of Pau...

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Hardcover $140.24

ISBN:9781464142284

Read and study old-school with our bound texts.

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Home Features New to This Edition

Krugman’s Macroeconomics for AP® second edition is designed to be easy to read and easy to use. This book is your ultimate tool for success in the AP® Macroeconomics course and Exam.

The text combines the successful storytelling, vivid examples, and clear explanations of Paul Krugman and Robin Wells with the AP® expertise of Margaret Ray and David Anderson. In this exciting new edition of the AP® text, Ray and Anderson successfully marry Krugman’s engaging approach and captivating writing with content based on The College Board’s AP® Economics Course outline, all while focusing on the specific needs and interests of high school teachers and students.

Special Package with David Anderson's Economics by Example
As an added bonus, a special high school (hardcover) printing of co-author David Anderson’s Economics By Example is bundled with the textbook absolutely free. Throughout the text and instructors materials, teachers will find suggestions for how to integrate chapters from Economics by Example into their course. To package for free with Economics by Example please use this ISBN: 1319040640.

Features

Expert Author Team

Margaret Ray and David Anderson bring to the text a combined 35 years of experience with AP® Economics students and teachers.

Alignment to the AP® Topic Outline and Terminology
Because it closely aligns to the AP® Exam course content and vocabulary, this book helps students learn the material and terminology necessary to realize success on the AP® Exam.

AP Organization—Flexible Modular Approach
This text is arranged in sections that correspond to the AP® topic outline, with each section divided into four to seven modules. Modules make for more manageable reading for students and easier pacing for teachers.　
Effective Study Aids

Learning Objectives establish measurable goals for each module

Modular Review Questions allow students to practice what they have learned with AP® style questions.

Section Review Material include detailed summaries of each module as well as page-referenced key terms and AP® style multiple-choice and free-response questions

New to This Edition

New media – edaptext powered by Copia Class

edaptext – Educational, Adaptable, Textbook.

Bedford, Freeman, and Worth High School Publishing Group is proud to announce a new kind of e-book, edaptext (Educational Adaptable Textbook) powered by Copia Class. edaptext’s connected classroom environment allows for seamless communication between the teacher, individuals, students, and the class as a whole.

This innovative new e-Book platform offers the accessibility you want and the flexibility you need.
Featuring page fidelity that ensures the e-Book matches the print text, each user may download and read the e-Book on multiple devices. Use it on a PC, Mac, iPad or Android tablet.
When you take notes on one device they automatically sync once you log on to your CopiaClass account and are connected to the internet.

E-BOOK & COURSE MATERIALS
Access a broad range of best-in-class content from BFW Publishers, all in one convenient location
ENGAGEMENT & COLLABORATION
In-depth discussions and feedback within the content itself foster a dynamic learning environment.
DIFFERENTIATION & PERSONALIZATION
Teachers can easily find and deliver content and customize materials to address specific learning needs.
ACCESSIBILITY & PORTABILITY
Online/offline access to content, notes, and collaboration tools ensures that teachers and students can engage with the learning material from multiple access points.

For Students

More Support for the AP Exam

AP® Exam Tips in the margins throughout the text offer invaluable on-the-spot advice about key concepts and common pitfalls.
More AP® Exam Practice at the end of each module and section.
A Full length AP®-style practice exam at the end of the text for even more AP® support.
Strive for a 5 by Melanie Fox—in separate macro and micro versions, the guides help students evaluate their understanding of the material covered in the textbook, reinforce key concepts, develop conceptual understanding and graphing skills, and prepare to succeed on the AP® Macroeconomics and Microeconomics exams

New Videos

Module-level "Flip It" Videos offer concise explanations of key concepts.
Section Review Videos offer more detailed examinations of big picture ideas, key graphs, and common mistakes.

For Teachers
Krugman’s Economics for AP® Teacher’s Edition, 978-1-4641-5579-6
Brand new to this edition, the wrap-around Teacher’s Edition a helpful primer on teaching AP® Economics with on-page, wrap-around teaching tips and answers to all questions within the student text.

Professional Development (PD) videos featuring the author of each section remind teachers of key content to cover and common pitfalls to avoid.

Macroeconomics for AP®

Margaret Ray; David A. Anderson; Paul Krugman

Macroeconomics for AP®

Second Edition 2015

Margaret Ray; David A. Anderson; Paul Krugman

Section 1 Basic Economic Concepts
Module 1 The Study of Economics
Module 2 Introduction to Macroeconomics
Module 3 The Production Possibilities Curve Model
Module 4 Comparative Advantage and Trade
Appendix Graphs in Economics

Section 2 Supply and Demand
Module 5 Supply and Demand: Introduction and Demand
Module 6 Supply and Demand: Supply
Module 7 Supply and Demand: Equilibrium
Module 8 Supply and Demand: Price Controls (Ceilings and Floors)
Module 9 Supply and Demand: Quantity Controls

Section 3 Measurement of Economic Performance
Module 10 The Circular Flow and Gross Domestic Product
Module 11 Interpreting Real Gross Domestic Product
Module 12 The Meaning and Calculation of Unemployment
Module 13 The Causes and Categories of Unemployment
Module 14 Inflation: An Overview
Module 15 The Measurement and Calculation of Inflation

Section 4 National Income and Price Determination
Module 16 Income and Expenditure
Module 17 Aggregate Demand: Introduction and Determinants
Module 18 Aggregate Supply: Introduction and Determinants
Module 19 Equilibrium in the Aggregate Demand–Aggregate Supply Model
Module 20 Economic Policy and the Aggregate Demand–Aggregate Supply Model
Module 21 Fiscal Policy and Multiplier Effects

Section 5 The Financial Sector
Module 22 Saving, Investment, and the Financial System
Module 23 The Definition and Measurement of Money
Module 24 The Time Value of Money
Module 25 Banking and Money Creation
Module 26 The Federal Reserve System: History and Structure
Module 27 The Federal Reserve System: Monetary Policy
Module 28 The Money Market
Module 29 The Market for Loanable Funds

Section 6 Inflation, Unemployment, and Stabilization Policies
Module 30 Long-Run Implications of Fiscal Policy: Deficits and the Public Debt
Module 31 Monetary Policy and the Interest Rate
Module 32 Money, Output, and Prices in the Long Run
Module 33 Types of Inflation, Disinflation, and Deflation
Module 34 Inflation and Unemployment: The Phillips Curve
Module 35 History and Alternative Views of Macroeconomics
Module 36 Consensus and Conflict in Modern Macroeconomics

Section 7 Economic Growth and Productivity
Module 37 Long-Run Economic Growth
Module 38 Productivity and Growth
Module 39 Growth Policy: Why Economic Growth Rates Differ
Module 40 Economic Growth in Macroeconomic Models

Section 8 The Open Economy: International Trade and Finance
Module 41 Capital Flows and the Balance of Payments
Module 42 The Foreign Exchange Market
Module 43 Exchange Rate Policy and Macroeconomic Policy
Module 44 Barriers to Trade
Module 45 Putting It All Together

AP® Practice Exam

Enrichment Module
Module A: Financial Markets and Crises

Financial Literacy Handbook

Glossary

Index

Macroeconomics for AP®

Second Edition 2015

Margaret Ray; David A. Anderson; Paul Krugman

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Find your Rep

Margaret Ray

Margaret Ray is Professor of Economics and Director of the Center for Economic Education at the University of Mary Washington, where she specializes in teaching introductory economics. She received her BS in Economics from Oklahoma State University and her PhD in Economics from the University of Tennessee. In 2012 she received her MEd in Curriculum and Instruction and became certified to teach K-12 Social Studies. She has taught AP® Economics courses at several high schools in Virginia and has received the Council on Economic Education’s Excellence in Teaching Economics award. She has been involved in the AP® Economics program since 1992, serving as a reader and question leader, writing test items, overseeing the AP® course audit, writing College Board “Special Focus” articles, and editing the Council on Economic Education’s AP® Macroeconomics resource. She has been a College Board® Endorsed Consultant for economics since 2001, and she conducts several professional development workshops and institutes each year. Her favorite hobby is showing hunter-jumper horses adopted from racehorse rescue organizations. She lives on a farm in Spotsylvania, Virginia, with her two daughters.

David A. Anderson

David Anderson is the Paul G. Blazer Professor of Economics at Centre College. He received his BA in economics from the University of Michigan and his MA and PhD in economics from Duke University. Anderson has been involved in the AP® Economics programs for more than two decades. For five years he led the grading of one or both of the AP® Economics exams, and he speaks regularly at AP® conferences and workshops. He has authored dozens of scholarly articles and 15 books, including Explorations in Economics, Survey of Economics, Cracking the AP® Economics Exam, Economics by Example, Favorite Ways to Learn Economics, and Environmental Economics and Natural Resource Management . His research is primarily on economic education, environmental economics, law and economics, and labor economics. Anderson loves teaching introductory economics and has won awards for excellence and innovation in the classroom. His favorite hobby is running, and he competes in marathons and triathlons. He lives in Danville, Kentucky, with his wife and two children.

Paul Krugman

Paul Krugman, recipient of the 2008 Nobel Memorial Prize in Economic Sciences, taught at Princeton University for 14 years. In 2015, he joined the faculty of the Graduate Center of the City University of New York, associated with the Luxembourg Income Study, which tracks and analyzes income inequality around the world. He received his BA from Yale and his PhD from MIT. Before Princeton, he taught at Yale, Stanford, and MIT. He also spent a year on the staff of the Council of Economic Advisers in 1982–1983. His research has included trailblazing work on international trade, economic geography, and currency crises. In 1991, Krugman received the American Economic Association’s John Bates Clark medal. In addition to his teaching and academic research, Krugman writes extensively for nontechnical audiences. He is a regular op-ed columnist for the New York Times. His best-selling trade books include End This Depression Now!, The Return of Depression Economics and the Crisis of 2008, a history of recent economic troubles and their implications for economic policy, and The Conscience of a Liberal, a study of the political economy of economic inequality and its relationship with political polarization from the Gilded Age to the present. His earlier books, Peddling Prosperity and The Age of Diminished Expectations, have become modern classics.