Macroeconomics (8th Edition) (Prentice Hall Series in Economics)

FROM THE PUBLISHER

This book traces the history of macroeconomics, the evolution of macroeconomic thought, and the resulting theory and policy. It places the various macroeconomic theories in the order in which they developed chronologically, and illustrates the similarities and differences of the models. The author admires all points of view and the result is a comprehensive, detailed, unbiased view of modern macroeconomic theory. Chapter topics examine the measurement of macroeconomic variables; classical macroeconomics: equilibrium output and employment, money, prices, and interest; the Keynesian system; the monetarist counterrevolution; output, inflation and unemployment: monetarist and Keynesian views; new classical economics; real business cycles and new Keynesian economics; exchange rates and the international monetary system; monetary and fiscal policy in the open economy; the money supply process; monetary policy; fiscal policy; long- and intermediate-term economic growth; consumption and investment; and money demand. For individuals looking for a better understanding of macroeconomics.

SYNOPSIS

In this new edition of a standard text, discussion includes a summary of the Keynesian position and a detailed analysis of the challenges to it, an extensive treatment of monetary policy, and a consideration of the determinants of long-run economic growth. Coverage of questions of measurement is followed by discussion of major macroeconomic models, open economy macroeconomics, macroeconomic policy, and extensions of macroeconomic models. This seventh edition contains new treatment of international issues and fiscal policy. The author is affiliated with the University of North Carolina. Annotation c. Book News, Inc., Portland, OR (booknews.com)

FROM THE CRITICS

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