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Economics, far from being the dismal science, offers us valuable lessons that can be applied to our everyday experiences. At its heart, economics is the science of choice and a study of economic principles allows us to achieve a more informed understanding of how we make our choices; whether these choices occur in our everyday life, our work environment, or at the national or international level. This two-volume text represents a common sense approach to basic macroeconomics. Volume two, Policies and Perspectives, delivers clear statements of essential economic principles, supported by real-world examples and uncluttered by extraneous material; the goal is to provide a concise readable primer that covers the substance of macroeconomic theory and policy. The text uses a single unifying tool-aggregate demand and aggregate supply analysis-to probe differing perspectives on macroeconomic policies. The text looks at fiscal policy and short-run stabilization; the financial sector and monetary policy; the international sector; and the sources of economic growth.