Five macroeconomic concepts are presented that are prominent in the business sections of newspapers, but which are not given equivalent prominence in macroeconomic textbooks. These are the discouraged-worker phenomenon, the use of inventories in forecasting, the effect of changes in the money...

The economy can be viewed as consisting of four sectors, the goods and services, labor, monetary, and international sectors, with overall equilibrium consisting of simultaneous equilibrium in each of these sectors. Interactions among these markets headaches for students. The “big...