Book Description:This book presents a cohesive view of the macro concepts. It, as in previous editions, adopts the core distinction between short-run macro, devoted to explaining business cycles and their prevention, and long-run macro, dedicated to explaining economic growth. It engages the students with the subject by informing about the current state of affairs of the global economy.
Key Features :
• Theory as a way to evaluate macro questions
• Patient and early introduction to business cycles
• A dynamic version of the AS-AD model
• A clear distinction between short- and long-run macro models
• Pedagogically designed figures
• Case studies
• International Perspective boxes
• Data Appendixes
Contents:Preface. Part I: Introduction and Measurement—Chapter 1: What is Macroeconomics?. Chapter 2: The Measurement of Income, Prices, and Unemployment. Part II: The Short Run: Business Cycles and Policy Responses—Chapter 3: Income and Interest Rates: The Keynesian Cross Model and the IS Curve. Chapter 4: Strong and Weak Policy Effects in the IS-LM Model. Chapter 5: Financial Markets, Financial Regulation, and Economic Instability. Chapter 6: The Government Budget, the Government Debt, and the Limitations of Fiscal Policy. Chapter 7: International Trade, Exchanges Rates, and Macroeconomic Policy. Part III: The Price Level, Inflation, and Unemployment—Chapter 8: Aggregate Demand, Aggregate Supply, and the Great Depression. Chapter 9: Inflation: Its Causes and Cures. Chapter 10: The Goals of Stabilization Policy: Low Inflation and Law Unemployment. Part IV: The Long Run: Economic Growth, Success, and Failure—Chapter 11: The Theory of Economic Growth. Chapter 12: The Big Questions of Economic Growth. Part V: Monetary Policy and the Sources of Instability—Chapter 13: Money, Banks, and the Federal Reserve. Chapter 14: The Goals, Tools, and Rules of Monetary Policy. Chatper 15: The Economics of Consumption Behavior. Chapter 16: The Economics of Investment Behavior. Part VI: The Evolution of Macroeconomic Ideas—Chapter 17: New Classical Macro and New Keynesian Macro. Chapter 18: Conclusion: Where We Stand.
About the Author:ROBERT J. GORDON, Stanley G. Harris Professor in the Social Sciences, Northwestern University.