The elements of the model are derived from economic theory. Economists study the model to see what hypotheses, or predictions, are suggested by the model. These can then be checked against real-world data. Economists clearly believe that they can make a significant contribution to the discussion and resolution of many important social issues. It is hoped that by the time you finish this course you will agree with this belief.
Used copies are available.
The same text and edition will be used in Economics 224 during the summer session and during the fall semester. The macroeconomics study guide accompanying the book is recommended. The book and the macroeconomics study guide have been put on reserve in the library. Answers to the review questions and problems in the book will be put on reserve throughout the semester. Furthermore, you should regularly read a good newspaper, such as the New York Times or the Wall Street Journal .