Macroeconomicstraces the history, evolution, and challenges of Keynesian economics, presenting a comprehensive, detailed, and unbiased view of modern macroeconomic theory.
For courses in Intermediate Macroeconomics.
Macroeconomics traces the history, evolution, and challenges of Keynesian economics, presenting a comprehensive, detailed, and unbiased view of modern macroeconomic theory.
This book narrates the evolution of economic theory, presenting the most recent and modern developments, without glossing over the fundamental disagreements among macroeconomists on both theory and policy.
Many of the post-1970 developments in macroeconomics have been the result of dissatisfaction with the Keynesian theory and the policy prescriptions that follow from it. In order for students to understand the evolution of macroeconomics, the author presents the history of Keynesian thought by:
Several new additions have been added which include topics on monetary policy and economic growth:
· Greater emphasis has been placed on interest rates and on inflation targeting strategies, with less of an emphasis on money.
· The chapter on long-run growth has also been moved out of Part II and placed with the chapter on intermediate growth.
· Both the neo-classical growth model and recent models of endogenous growth are discussed as well.
Offer the latest edition:
PART ONE: INTRODUCTION AND MEASUREMENT
Chapter 1: Introduction
Chapter 2: Measurement of Macroeconomic Variables 13
PART TWO: CLASSICAL ECONOMICS AND THE KEYNESIAN REVOLUTION
Chapter 3: Classical Macroeconomics (I): Equilibrium Output and Employment
Chapter 4: Classical Macroeconomics (II): Money, Prices, and Interest
Chapter 5: The Keynesian System (I):The Role of Aggregate Demand
Chapter 6: The Keynesian System (II): Money, Interest, and Income
Chapter 7: The Keynesian System (III): Policy Effects in the IS—LM Model
Chapter 8: The Keynesian System (IV): Aggregate Supply and Demand
PART THREE: MACROECONOMIC THEORY AFTER KEYNES
Chapter 9: The Monetarist Counterrevolution
Chapter 10: Output, Inflation, and Unemployment: Alternative Views
Chapter 11: New Classical Economics
Chapter 12: Real Business Cycles and New Keynesian Economics
Chapter 13: Macroeconomic Models :A Summary
PART FOUR: OPEN ECONOMY MACROECONOMICS
Chapter 14: Exchange Rates and the International Monetary System
Chapter 15: Monetary and Fiscal Policy in the Open Economy
PART FIVE: ECONOMIC POLICY
Chapter 16: Money, the Banking System, and Interest Rates
Chapter 17: Optimal Monetary Policy
Chapter 18: Fiscal Policy
PART SIX: ECONOMIC GROWTH
Chapter 19: Policies for Intermediate-Run Growth
Chapter 20: Long-Run Economic Growth: Origins of the Wealth of Nations