Product Description

Macroeconomics, 17e, by Samuelson and Nordhaus, is the classic text that set the standard for principles of economics texts when it was introduced in 1948. This text has been the standard-bearer in principles books for over 50 years, presenting a clear, accurate, and interesting introduction to economics that allows students to study the world and see the patterns of economic life. Bill Nordhaus is now the primary author of this modern treatment of macroeconomics which has been thoroughly updated.

Product Details

• Amazon Sales Rank: #3412501 in Books
• Published on: 2001-06-01
• Binding: Paperback

From the Publisher
Major new material on economics of the information age. For example, students need to understand how information is different from conventional commodities. Additionally, since the production of new information is crucial to economic growth, the role of technological change and intellectual property is highlighted. In addition, network effects are treated.
Revised treatment of international economics. In the previous edition, the chapters on international economics were placed at the very end of the text in Part Five, International Trade and the World Economy. In the Seventeenth edition, these chapters have been integrated into the micro/macroeconomics sections of the text. The material from Chapter 28 (Exchange Rates and the International Finance System) in the previous edition now appears as Chapter 11 in Macroeconomics. This new treatment will integrate open economy elements more fully into the core material and ensure that international aspects are central to the teaching rather than an afterthought.
Expanded use of boxed material in the text with icons that alert students to difficult concepts, brief biographies of relevant historical figures, and real-world examples of the concepts discussed in the text. This edition contains approximately 20 new examples including European Monetary Union, Network Economics, the Microsoft case, diminishing returns, and globalization. Not only will these current examples pique student interest and relate the topics to practical matters, but these icons help flag these interesting and timely features.
Book length reduced from 20 to 18 chapters: This is accomplished by condensing the three chapters on open-economy macroeconomics into two new ones (Chapter 29, Exchange Rates and the International Financial System and Chapter 30, Open-Economy Macroeconomics). This reduction in length helps students focus on the most important concepts.
End of chapter material includes two new sections: a list of resources 'For Further Reading' and a listing of relevant 'Web Sites' for each chapter along with a brief description of the kind of material that can be researched at these sites on the Internet. These new EOC sections now help students conduct research and learn more.
New, attractive design that reinforces the expansion and integration of the international coverage by using the image of a global puzzle to describe the study of economics. Each chapter in the text can be seen as another piece of the puzzle, providing knowledge that allows students to better understand the workings of today's global economy and 'complete' the puzzle.
Continued emphasis on the Analytical Core of Economics with particular attention to economic growth (macro) and analysis of market economics (micro). This emphasis helps students focus on the most important concepts in the course.
Always keeps an eye on the importance of economics for public policy and world events, including important events such as inflation and Federal Reserve monetary policy, the recent resurgence in productivity growth, new tools in deregulation, global public goods and the Kyoto Protocol for global warming.

Customer Reviews

Conventional, i.e. misleading, account of economic theory
The American economist Paul Samuelson won a Nobel Prize for `proving' that under free trade prices paid to capital and labour tend to be the same across the world. But in the real world, free trade has led, not to the levelling up of world wages and the end of poverty, but to growing inequality and poverty. Half the world lives on less than $2 a day. In many countries, real wages peaked 30 years ago.
So any textbook written by a man who thinks that capitalism produces equality doesn't deserve to be taken seriously.
Nordhaus, for his part, thinks that a worldwide carbon tax, levied at $200 per ton of carbon, will save the world. Of course, any country fool enough to impose this tax would force its energy-using industries abroad to some country that didn't impose the tax. So the tax wouldn't cut global emissions, but it would cut living standards in countries that imposed it.

The other revue is about a diferent book.
The other review refers to Samuelson and Nordhaus. This book was written by Colander, not S or N. It is a completely different book, so the other reviewers comments are not relevant here.