This course focuses on the Great Depression and World War II and how they led to a major reordering of American politics and society. We will examine how ordinary people experienced these crises and how those experiences changed their outlook on politics and the world around them.

Uses the tools of macroeconomics to study three macroeconomic policy problems in depth. Possible topics include long-run economic growth, the macroeconomics of the transition to a modern capitalist society, federal government surpluses and deficits, Social Security, the distribution of earnings and income, and the Great Depression. Requires a 20-page paper on a subject related to one of the topics considered in the class. This subject considers three topics of macroeconomics that are alive and controversial for policy today. The topics are: economic growth - the roles of capital accumulation, increased education, and technological progress in determining economic growth; savings - the effect of government and private debt on economic growth; and exchange-rate regimes - their role in the Great Depression and today.

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.

In this chapter, you will learn about:
Macroeconomic Perspectives on Demand and Supply
Building a Model of Aggregate Demand and Aggregate Supply
Shifts in Aggregate Supply
Shifts in Aggregate Demand
How the AD/AS Model Incorporates Growth, Unemployment, and Inflation
Keynes’ Law and Say’s Law in the AD/AS Model

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

Explain Say’s Law and understand why it primarily applies in the long run
Explain Keynes’ Law and understand why it primarily applies in the short run

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

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

Evaluate how neoclassical economists and Keynesian economists react to recessions
Analyze the interrelationship between the neoclassical and Keynesian economic models

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

U.S. History is designed for a two-semester American history sequence. It is traditional in coverage, following a roughly chronological outline, and using a balanced approach that includes political, economic, social, and cultural developments. At the same time, the book includes a number of innovative and interactive features designed to enhance student learning. Instructors can also customize the book, adapting it to the approach that works best in their classroom.