Principles of Macroeconomics 2e 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 second 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 2e 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.

By the end of this section, you will be able to:

Identify patterns of inflation for the United States using data from the Consumer Price Index
Identify patterns of inflation on an international level

By the end of this section, you will be able to:

Explain the nature and causes of unemployment
Analyze the natural rate of unemployment and the factors that affect it
Identify how undeveloped labor markets can result in the same hardships as unemployment

By the end of this section, you will be able to:

Identify the components of GDP on the demand side and on the supply side
Evaluate how economists measure gross domestic product (GDP)
Contrast and calculate GDP, net exports, and net national product

By the end of this section, you will be able to:

Explain recessions, depressions, peaks, and troughs
Evaluate the importance of tracking real GDP over time

U.S. History is designed to meet the scope and sequence requirements of most introductory courses. The text provides a balanced approach to U.S. history, considering the people, events, and ideas that have shaped the United States from both the top down (politics, economics, diplomacy) and bottom up (eyewitness accounts, lived experience). U.S. History covers key forces that form the American experience, with particular attention to issues of race, class, and gender.Senior Contributing AuthorsP. Scott Corbett, Ventura CollegeVolker Janssen, California State University, FullertonJohn M. Lund, Keene State CollegeTodd Pfannestiel, Clarion UniversityPaul Vickery, Oral Roberts UniversitySylvie Waskiewicz

By the end of this section, you will be able to:

Discuss the Bush administration’s economic theories and tax policies, and their effects on the American economy
Explain how the federal government attempted to improve the American public education system
Describe the federal government’s response to Hurricane Katrina
Identify the causes of the Great Recession of 2008 and its effect on the average citizen