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xxx | Preface

Glossary

To help students become familiar with the language of macroeconomics, a glossary of more than 250 terms is provided at the back of the book.

Translations

The English-language version of this book has been used in dozens of countries. To make the book more accessible for students around the world, editions are (or will soon be) available in 15 other languages: Armenian, Chinese, French, German, Greek, Hungarian, Indonesian, Italian, Japanese, Korean, Portuguese, Romanian, Russian, Spanish, and Ukrainian. In addition, a Canadian adaptation coauthored with William Scarth (McMaster University) and a European adaptation coauthored with Mark Taylor (University of Warwick) are available. Instructors who would like information about these versions of the book should contact Worth Publishers.

Acknowledgments

Since I started writing the first edition of this book two decades ago, I have benefited from the input of many reviewers and colleagues in the economics profession. Now that the book is in its seventh edition, these individuals are too numerous to list in their entirety. However, I continue to be grateful for their willingness to have given up their scarce time to help me improve the economics and pedagogy of this text. Their advice has made this book a better teaching tool for hundreds of thousands of students around the world.

I would like to mention those instructors whose recent input shaped this new edition:

Jinhui Bai

Nancy Jianakoplos

John Neri

Georgetown University

Colorado State University

University of Maryland

Joydeep Bhattacharya

George Karras

Christina Peters

Iowa State University

University of Illinois at Chicago

University of Colorado

Ronald Cronovich

Roger Kaufman

at Boulder

 

Carthage College

Smith College

Jeffrey Reynolds

Massimiliano De Santis

Manfred W. Keil

Northern Illinois University

 

Dartmouth College

Claremont McKenna

David Romer

John Driscoll

College

University of California

 

at Berkeley

Federal Reserve Board

John Leahy

 

James Fackler

NewYork University

Brian Rosario

 

American River College

University of Kentucky

Christopher Magee

 

Chris Foote

Bucknell University

Naveen Sarna

 

Northern Virginia

Federal Reserve Bank of

Robert Martel

Community College

Boston

University of Connecticut

Mark Siegler

David R. Hakes

Meghan Millea

California State University

University of Northern Iowa

Mississippi State University

at Sacramento

Christopher House

Robert Murphy

 

University of Michigan

Boston College

 

Preface | xxxi

David Spencer

Nora Underwood

Bill Yang

BrighamYoung University

University of Central Florida

Georgia Southern University

Henry S. Terrell

Jaejoon Woo

Noam Yuchtman

University of Maryland

DePaul University

Harvard University

In addition, I am grateful to Stacy Carlson, a student at Harvard, who helped me update the data, refine my prose, and proofread the entire book.

The people at Worth Publishers have continued to be congenial and dedicated. I would like to thank Catherine Woods, Senior Publisher; Craig Bleyer, Senior Publisher; Sarah Dorger, Acquisitions Editor; Scott Guile, Senior Marketing Manager; Marie McHale, Senior Development Editor; Paul Shensa, Consulting Editor; Tom Acox, Media and Supplements Assistant Editor; Lorraine Klimowich, Associate Media and Supplements Editor; Steven Rigolosi, Director of Market Research and Development; Dana Kasowitz, Project Editor; Tracey Kuehn,Associate Managing Editor; Barbara Seixas, Production Manager; Barbara Reingold, Art Director; Vicki Tomaselli, Design Manager; Kevin Kall, Layout Designer; Karen Osborne, Copyeditor; Laura McGinn, Supplements Editor; and Stacey Alexander, Supplements Manager.

Many other people made valuable contributions as well. Most important, Jane Tufts, freelance developmental editor, worked her magic on this book once again, confirming that she’s the best in the business. Alexandra Nickerson did a great job preparing the index. Deborah Mankiw, my wife and in-house editor, continued to be the first reader of new material, providing the right mix of criticism and encouragement.

Finally, I would like to thank my three children, Catherine, Nicholas, and Peter. They helped immensely with this revision—both by providing a pleasant distraction and by reminding me that textbooks are written for the next generation.

Cambridge, Massachusetts

May 2009