Principles of Macroeconomics

(4 reviews)


Multiple Authors, OpenStax College

Pub Date: 2014

ISBN 13: 978-1-9381682-5-3

Publisher: OpenStax

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Reviewed by Shirin Sabetghadam, Professional Lecturer, The American University , on 2/2/2018.

The textbook is very comprehensive and covers most of the topics in an introductory macroeconomics courses. The index is attached to each chapter and … read more



Reviewed by Elizabeth Porter, Lecturer, UNC Asheville, on 2/2/2018.

The text covers as many (if not more) topics and concepts than the majority of principles texts currently available.… read more



Reviewed by Sarah Jenyk, Insructor, Youngstown State University, on 4/12/2017.

The text is thorough and covers areas expected from a Principles of Macroeconomics textbook.… read more



Reviewed by Ling Shao, Lecturer, Miami University, on 8/22/2016.

I find this book to be very thorough in the subject matter. Compared to a few textbooks that I am familiar with (e.g., the ones by Mankiw, by … read more


Table of Contents

Chapter 1: Welcome to Economics!

Chapter 2: Choice in a World of Scarcity

Chapter 3: Demand and Supply

Chapter 4: Labor and Financial Markets

Chapter 5: Elasticity

Chapter 6: The Macroeconomic Perspective

Chapter 7: Economic Growth

Chapter 8: Unemployment

Chapter 9: Inflation

Chapter 10: The International Trade and Capital Flows

Chapter 11: The Aggregate Demand/Aggregate Supply Model

Chapter 12: The Keynesian Perspective

Chapter 13: The Neoclassical Perspective

Chapter 14: Money and Banking

Chapter 15: Monetary Policy and Bank Regulation

Chapter 16: Exchange Rates and International Capital Flows

Chapter 17: Government Budgets and Fiscal Policy

Chapter 18: The Macroeconomic Impacts of Government Borrowing

Chapter 19: Macroeconomic Policy Around the World

Chapter 20: International Trade

Chapter 21: Globalization and Protectionism

About the Book

Principles of Macroeconomics covers the scope and sequence for a one-semester economics course. The text also includes many current examples, including: the housing bubble and housing crisis, Zimbabwe’s hyperinflation, global unemployment, and the appointment of the United States’ first female Federal Reserve chair, Janet Yellen.

The pedagogical choices, chapter arrangements, and learning objective fulfillment were developed and vetted with feedback from educators dedicated to the project. The outcome is a balanced approach to economics, to both Keynesian and classical views, and to the theory and application of economics concepts. Current events are treated in a politically-balanced way, as well.

Note: Principles of Macroeconomics PDF and web view versions have been updated to include current FRED (Federal Reserve Economic) data. 


OpenStax College has compiled many resources for faculty and students, from faculty-only content to interactive homework and study guides.

About the Contributors


Senior Contributing Author
Timothy Taylor, Macalester College

Senior Content Expert
Steven A. Greenlaw, University of Mary Washington

Senior Contributors
Eric Dodge, Hanover College
Cynthia Gamez, University of Texas at El Paso
Andres Jauregui, Columbus State University
Diane Keenan, Cerritos College
Dan MacDonald, California State University San Bernardino
Amyaz Moledina, The College of Wooster
Craig Richardson, Winston-Salem State University
David Shapiro, Pennsylvania State University
Ralph Sonenshine, American University