Introducing Advanced Macroeconomics
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Introducing Advanced Macroeconomics

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Introducing Advanced Macroeconomics: Growth and Business Cycles, 2nd edition provides students with a thorough understanding of fundamental models in macroeconomics and introduces them to methods of formal macroeconomic analysis. Split into two sections, the first half of the book focuses on macroeconomics for the long run, introducing and developing basic models of growth and structural unemployment. The second half of the book deals with the economy in the short run, focusing on the explanation of business fluctuations. This new edition retains the popular pitch and level established in the 1st edition and continues to bridge the gap between intermediate macroeconomics texts and more advanced textbooks.
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Product details

  • Paperback | 864 pages
  • 210 x 270 x 42mm | 1,733g
  • McGraw Hill Higher Education
  • London, United States
  • English
  • 2nd edition
  • w. ill.
  • 0077117867
  • 9780077117863
  • 179,910

Table of contents

Preface
Acknowledgements
About the authorsMacroeconomics for the long run and for the short run

Book One: The Long Run
Some Facts about Prosperity and Growth

Part 1: Basic Theory and Empirics about Prosperity and Growth
Capital Accumulation and Growth: The Basic Solow Model
Wealth Accumulation and Capital Mobility: The Solow Model for a Small Open Economy

Part 2: Exogenous Growth
Technological Progress and Growth: The General Solow Model
Education and Growth: The Solow Model with Human Capital
Limits to Growth? The Solow Model with Scarce Natural Resources

Part 3: Endogenous Growth
Productive Externalities and Endogenous Growth
R&D-Based Endogenous Growth

Part 4: Structural Unemployment
Some Facts and Introductory Theory about Unemployment
Efficiency Wages and Unemployment
Trade Unions and Unemployment
Appendix: Table A: Some growth relevant country data

Book Two: The Short Run
Some Facts about Business Cycles


Part 5: The Building Blocks for the Short-run Model
Investment and Asset Prices
Consumption, Income and Wealth
Monetary Policy and Aggregate Demand
Inflation, Unemployment and Aggregate Supply


Part 6: The Short-run Model for the Closed Economy
Explaining Business Cycles: Aggregate Supply and Aggregate Demand in Action
Stabilization Policy: Why
Stabilization Policy: How?
Stabilization Policy with Rational Expectations
The Limits to Stabilization Policy: Credibility and Uncertainty

Part 7: The Short-run Model for the Open Economy
Aggregate Demand and Aggregate Supply in the Open Economy
Chapter 24 The Open Economy with Fixed Exchange Rates
Chapter 25 The Open Economy with Flexible Exchange Rates
Appendix: Basic regression analysis
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About Peter Birch Sorensen

Peter Birch Si?rensen is Professor of Economics at the University of Copenhagen and Chairman of the Danish Productivity Committee. He is a former Director of the university's Economic Policy Research Unit. He is a former Chairman of the Danish Economic Council, and he has served as a consultant on tax policy for the OECD, the European Commission, the International Monetary Fund and several national governments.



Hans Ji?rgen Whitta-Jacobsen is Professor of Economics at the University of Copenhagen and Chairman of the Danish Economic Council. He has served as a consultant for the Danish government on tax reform and as a reporter on economic issues for the main Danish public service TV channel.
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