Macroeconomics in the Global Economy

Macroeconomics in the Global Economy

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Takes an open economy approach to macroeconomics, and includes macro theory at work in Russia, Poland and Bolivia.* a focus throughout the book on the global economy and the international aspects of macroeconomics recognizes that all economies in the world are linked through international markets for goods, services, and capital. Open-economy models are used throughout the book. * the ways that countries differ in their important macroeconomic institutions (such as in the patterns of wage setting) are carefully examined, and then those institutional differences are related to observed differences in macroeconomic performance. * recent advances in macroeconomic theory are covered, particularly regarding the role of expectations; the intertemporal choices of households, firms, and the government; and the modern theory of economic policy, including the problems of time consistency and international policy coordination. * boxed features examine topics of interest including "Social Security and Saving", "The Central Bank and Politics", "Currency Convertibility", "The Sacrifice Ratio and the Reagan Disinflation", and "Social Development and the Debt Crisis". * each chapter concludes with a Summary, Key Concepts, and Problems and more

Product details

  • Hardback | 798 pages
  • 211.8 x 262.1 x 35.1mm | 1,623.88g
  • Pearson Education Limited
  • Prentice-Hall
  • Harlow, United Kingdom
  • English
  • 0131022520
  • 9780131022522

Table of contents

(NOTE: Each chapter ends with a summary, key concepts, and problems and questions.)I. INTRODUCTION. 1. Introduction. 2. Basic Concepts in Macroeconomics. 3. Output Determination: Introducing Aggregate Supply and Aggregate Demand. II. INTERTEMPORAL ECONOMICS. 4. Consumption and Saving. 5. Investment. 6. Saving, Investment and the Current Account. 7. The Government Sector. III. MONETARY ECONOMICS. 8. Money Demand. 9. The Money Supply Process. 10. Money, Exchange Rates and Prices. 11. Inflation: Fiscal and Monetary Aspects. IV. OUTPUT DETERMINATION, STABILIZATION POLICY AND GROWTH. 12. Macroeconomic Policies and Output Determination in the Closed Economy. 13. Macroeconomic Policies in the Open Economy: The Case of Fixed Exchange Rates. 14. Macroeconomic Policies in the Open Economy: The Case of the Flexible Exchange Rates. 15. Inflation and Unemployment. 16. Institutional Determinants of Wages and Unemployment. 17. Explaining Business Cycles. 18. Long-Term Growth. V. SPECIAL TOPICS IN MACROECONOMICS. 19. The Theory and Practice of Economic Policy. 20. Financial Markets. 21. Tradeable and Nontradeable Goods. 22. The Developing Country Debt Crisis. 23. Stopping High more

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17 ratings
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3 24% (4)
2 6% (1)
1 0% (0)
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