Macroeconomics

In this free course, following our Principles of Microeconomics course, you'll continue to explore the economic way of thinking and the role incentives play in all our lives.

We'll cover fundamental macroeconomics questions such as: Why do some countries grow rich while others remain poor? How important is a country's banking system and what happened during the recent financial crisis? How did Zimbabwe end up with an inflation rate that rose into the quadrillions?

We'll also cover important topics like the Federal Reserve, monetary policy, fiscal policy, the Solow Growth Model, institutional analysis, the economics of ideas,and more.

This textbook concerns the wonderful world of macroeconomics, or economics on a very large scale, concerning national and international systems. It serves as an introduction to macroeconomics, and is primarily aimed at students in their final few years of secondary education, though it could also be used by interested students younger or older than that. See Intermediate Macroeconomic Theory for learning more advanced macroeconomics.;
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Knowledge of microeconomics would be useful and preferred, but grasping overall concepts does not require an in depth previous knowledge. See Principles of Economics for a brief introduction to both microeconomics and macroeconomics and Principles of Microeconomics for learning introductory microeconomics.;
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It is worth remembering that this textbook can be edited at any time, with the link at the top of this page. This is both good and bad - you yourself, having spotted a mistake or having noticed a poor definition, can correct it and should feel free to do so. The bad side is that anyone can edit it, so content may be inaccurate while the wikibook is in its infancy!

Online course in the Principles of Macroeconomics

The goal of this textbook is to help students understand how real individuals actually work with economics. In this textbook, the authors illustrate the practicality and relevance of economics with a variety of new illustrations and insights.

Principles of Macroeconomics 3e covers the scope and sequence of most introductory economics courses. The text includes many current examples, which are handled in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts. The third edition has been thoroughly revised to increase clarity, update data and current event impacts, and incorporate the feedback from many reviewers and adopters.

Changes made in Principles of Macroeconomics 3e are described in the preface and the transition guide to help instructors transition to the second edition. The first edition of Principles of Macroeconomics by OpenStax is available in web view here.