Skip to content

Read more about Principles of Macroeconomics - 3e

Principles of Macroeconomics - 3e

(17 reviews)

Steven A. Greenlaw, Fredericksburg, Virginia

David Shapiro, Centre County, Pennsylvania

Timothy Taylor, Saint Paul, Minnesota

Copyright Year: 2017

ISBN 13: 9781947172388

Publisher: OpenStax

Language: English

Formats Available

Conditions of Use

Attribution Attribution


Learn more about reviews.

Reviewed by Hardik Marfatia, Associate Professor, Northeastern Illinois University on 5/9/23

The text is very comprehensive. There are some chapter specific comments here. Ch 1: Focus on labor could be more precise. Ch 5: Elasticity in supply could be added, for example parking lots and their pricing. Ch 6: Numerical example computing... read more

Reviewed by Yi Duan, Assistant Professor, Marshall University on 4/12/23

This book gives detailed microeconomic foundations and covers all the major macroeconomic topics. It also offers some optional chapters such as “Macroeconomic Policy Around the World.” The book compares the Keynesian perspective with the... read more

Reviewed by Nathan Fregien, Full-time Faculty, College of Menominee Nation on 12/5/22

This book covers everything you would ever need to cover in a macroeconomics class. The instructor resources are very comprehensive and especially helpful for an online or hybrid course offering. I was impressed with the online interactive supply... read more

Reviewed by Samar Reine, Adjunct Professor, Springfield Technical Community College on 11/7/22

This textbook is streamlined, which works best for students with additional resources like videos, exercises, homework, and supplemental materials. It's suitable for students who shun in-depth explanations due to time factors, personality, or... read more

Reviewed by Richard Paulsen, Assistant Professor, Bloomsburg University of Pennsylvania on 1/27/22

The book covers all topics that I would expect to see in a Principles of Macroeconomics textbook. read more

Reviewed by Mitch Roose, Instructor, Kirkwood Community College on 10/1/21

The text is thorough in its coverage of gross domestic product, unemployment, inflation, and fiscal and monetary policy. The pros and cons associated with global trade are also explained very well. read more

Reviewed by Mohammad Idrees, Adjunct Professor, Holyoke Community College on 6/18/21

The book delivered the basic subject of macroeconomics comprehensively for 101 Economics courses without a flavor of symmetrically commercial textbook fan fair read more

Reviewed by Gabriel Mathy, Assistant Professor, American University on 4/9/21

The book covers all the topics one would want to cover in a principles of macroeconomics book. read more

Reviewed by Jennifer Elias, Assistant Professor, Radford University on 6/25/20

As with most textbooks, there were more chapters than instructors can cover in one class. I used the book last semester and assigned 12 chapters - not all of them the complete chapters. Some instructors might want more discussion of stock... read more

Reviewed by Shengnan Fang, Full-time faculty, Linn-Benton Community College on 6/17/20

This textbook not only covers the major content for principles level class, but also introduces chapters related to the impact of government borrowings, international trade and globalization and protectionism. The index is hyperlinked, which is... read more

Reviewed by Hyeon Joon Shin, Associate Professor, Anderson University on 3/27/20

This textbook thoroughly and comprehensively covers all the macroeconomics topics at the “Principles” level that college economics professors are supposed to teach. This textbook has a couple of interesting features that make it differentiated... read more

Reviewed by Peter Mikek, Associate Professor, Wabash College on 11/5/19

The text covers all main macroeconomic topics and expands into introductory exposition of money and banking and international economics. Additionally, some applications to labor and finance are offered. Beyond the usual treatment of the principles... read more

Reviewed by Joseph Schoen, Instructor, MnSCU on 9/26/18

The textbook covers the major content areas expected to be covered in a Principle of Macroeconomics course and more. The index and the glossary are satisfactory and are just as good as those found in other textbooks. read more

Reviewed by Shirin Sabetghadam, Professional Lecturer, The American University on 2/1/18

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

Reviewed by Elizabeth Porter, Lecturer, UNC Asheville on 2/1/18

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 4/11/17

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

Reviewed by Ling Shao, Lecturer, Miami University on 8/21/16

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 Krugman/Wells, and by Frank/Bernanke), it includes substantial coverage on international economics as... 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 Impacts of Government Borrowing
  • Chapter 19: Macroeconomic Policy Around the World
  • Chapter 20: International Trade
  • Chapter 21: Globalization and Protectionism

Ancillary Material

  • OpenStax
  • OpenStax
  • OpenStax
  • About the Book

    Principles of Macroeconomics 3e covers the scope and sequence of most one semester introductory macroeconomics courses. The third edition takes a balanced approach to the theory and application of macroeconomics concepts. The text uses conversational language and ample illustrations to explore economic theories, and provides a wide array of examples using both fictional and real-world scenarios. The third edition has been carefully and thoroughly updated to reflect current data and understanding, as well as to provide a deeper background in diverse contributors and their impacts on economic thought and analysis. For example, the third edition highlights the research and views of a broader group of economists. Brief references and deeply explored socio-political examples have also been updated to showcase the critical – and sometimes unnoticed – ties between economic developments and topics relevant to students.

    A fuller list of changes made in Principles of Macroeconomics 3e are described in the preface and the transition guide to help instructors transition to the third edition.

    About the Contributors


    Senior Contributing Authors

    Steven A. Greenlaw, University of Mary Washington

    David Shapiro, Pennsylvania State University

    Timothy Taylor, Macalester College

    Contribute to this Page

    Suggest an edit to this book record