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Help students understand macroeconomics in theory as well as practice.Macroeconomics: Policy and Practice, Second Edition draws on the rich tapestry of recent economic events to help students understand the policy issues debated by the media and the public at large during these trying times. Building on his expertise in macroeconomic policy making at the Federal Reserve, author Frederic S. Mishkin provides detailed, step-by-step explanations of all models and highlights the techniques used by policy makers in practice. The Second Edition incorporates a wealth of new and updated content, as well as new tools and resources in My Econ Lab that bring course material to life.Features:This text provides a better teaching and learning experience–for you and your students. It will help you to:• Personalize learning with My Econ Lab: This online homework, tutorial and assessment program engages students in learning and provides instructors tools to keep students on track.• Enable students to connect theory to practice: An aggregate demand and supply model helps students understand theory, while numerous examples help them understand the applications of theory.• Foster interest via engaging features and updated content: Updates that reflect the latest happenings in the world of economics and student-friendly in-text tools capture student interest.• Teach your course your way: A flexible structure allows instructors to focus on the particular areas of macroeconomics that match their course goals.Table of Content:I. Introduction 1. The Policy and Practice of Macroeconomics 2. Measuring Macroeconomic Data II. Macroeconomic Basics 3. Aggregate Production and Productivity 4. Saving and Investment in Closed and Open Economies 5. Money and Inflation III. Long-Run Economic Growth 6. The Sources of Growth and the Solow Model 7. Drivers of Growth: Technology, Policy and Institutions IV. Business Cycles: The Short Run 8. Business Cycles: An Introduction 9. The IS Curve 10. Monetary Policy and Aggregate Demand 11. Aggregate Supply and the Phillips Curve 12. The Aggregate Demand and Supply Model 13. Macroeconomic Policy and Aggregate Demand and Supply Analysis V. Finance and the Macroeconomy 14. The Financial System and Economic Growth 15. Financial Crises and the Economy VI. Macroeconomic Policy 16. Fiscal Policy and the Government Budget 17. Exchange Rates and International Economic Policy VII. Microeconomic Foundations of Macroeconomics 18. Consumption and Saving 19. Investment 20. The Labor Market, Employment and Unemployment VIII. Modern Business Cycle Analysis and Macroeconomic Policy 21. The Role of Expectations in Macroeconomic Policy22.