Macroeconomics in Context

Macroeconomics in Context, Fourth Edition
by Neva Goodwin, Jonathan Harris, Julie Nelson, Pratistha Joshi Rajkarnikar, Brian Roach, & Mariano Torras

This text lays out the principles of macroeconomics in a manner that is thorough, up to date, and relevant to students. Like its counterpart, Microeconomics in Context, the book is uniquely attuned to economic realities. The Fourth Edition of Macroeconomics in Context delivers updated material on labor markets, recession and inflation, the global economy, deficits and debt, and global climate change. The text also covers the critical topics of economic and social inequality, financial instability, ecological sustainability, the quality of employment, the role of unpaid work, and the adequacy of living standards. 

Order the Fourth Edition via Routledge

Paperback: $59.96   Hardback: $168.00   eBook: $59.96

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Student Supplements
Access student study guide and PowerPoint Slides for the Fourth Edition and Third Edition

Preview the Fourth Edition 
The new edition has been extensively revised and refreshed in response to new macroeconomic developments. In addition to updating data in the text, tables, and figures, several new references have been added to include the most recent research and policy debates. A special focus in this edition is on the economic and social impacts of the pandemic. New material includes discussion on cryptocurrencies, global supply chains, emerging debt crisis in developing countries, and recent challenges related to inflation, global inequality, and environmental sustainability.
A brief summary explains key features of the fourth edition. 

Access the errata for the eBook and Paperback/Hardback.

Preview the Table of Contents and sample chapters:

Chapter 7: Employment, Unemployment, and Wages

  • Analysis of labor shortage & structural changes in the labor market due to COVID-19
  • Updated discussion on the gig economy and the loss of good jobs  
  • New material on pandemic-induced automation, labor market disparities, remote working, and essential workers

Chapter 12: Aggregate Supply, Aggregate Demand, and Inflation: Putting it All Together

  • Discussion of the recurrence of inflation in 2021/2022
  • Comparative analysis of recovery following 2007-2009 and 2020 recessions
  • Analysis of policies to respond to cost-push and demand-pull inflation

Chapter 13: The Global Economy and Policy

  • New material on transnational corporations and international supply chains
  • Discussion of the problem of capital flight and debt crises in developing countries
  • Analysis of the open economy macroeconomics of COVID-19 pandemic responses

Chapter 15: Deficit and Debt

  • New material on impacts of the COVID-19 pandemic on deficits and debt
  • Short-and long-term deficit projections and the impact of Trump tax cuts
  • Consideration of funding green infrastructure, eliminating fossil fuel subsidies, and wealth taxes

Chapter 17: Growth and Sustainability in the Twenty-First Century

  • Updated material on global climate change data and policies, including discussion of the 2021 Glasgow Climate Pact
  • Discussion of growth limits, steady state economy, and degrowth
  • Focus on “green” macroeconomic policy and renewable energy investment


Praise for Macroeconomics in Context

“Macroeconomics in Context is the best text I’ve seen for undergraduate teaching. By paying attention to pressing issues of our time, such as environmental degradation and social inequalities, it lets students readily see why the subject of economics is important to learn. This text gives students the basics while raising questions about how we can do better.”
– Valerie A. Luzadis, SUNY Environmental Science and Forestry, Syracuse


Macroeconomics in Context, Third Edition
by Neva Goodwin, Jonathan Harris, Julie Nelson, Pratistha Joshi Rajkarnikar, Brian Roach, & Mariano Torras

Third Edition Materials
Preview the Table of Contents and sample chapters:

Student Supplements

Changes in the Third Edition
The Third Edition offers students an excellent guide to macroeconomics by combining real-world relevance with a thorough grounding in multiple economic paradigms. A brief summary explains key features of the third edition.

Macroeconomics in Context, Second Edition
by Neva Goodwin, Jonathan Harris, Julie Nelson, Brian Roach, & Mariano Torras

Cover for Microeconomics in Context, Third EditionSecond Edition Materials

See Table of Contents

Preview the first 24 pages

Sample chapters from the Third Edition:

Student Supplements

Changes to the Second Edition
The Second Edition has been thoroughly updated and corrected, and includes coverage of events such as the United States subprime mortgage crisis, the debt and deficits debate, and recent Federal Reserve actions. A summary of changes is available.


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