Macroeconomics, Second Canadian Edition
Appropriate for courses in Intermediate Macroeconomics in economics and MBA programs. Newly revised and thoroughly updated, this text helps students see how macroeconomics can be used to try to understand some of the most important issues of the last twenty-five years-from the transformation of Eastern Europe, to high unemployment in Western Europe, to rapid economic development in Asia, to widening income inequality in Canada and the United States. It presents macroeconomics as an applied science- a science that deals with complex and often urgent issues-and a science that must maintain both internal consistency and external reference. The example-rich approach provides a strong emphasis on the role of expectations, the openness of modern economics, and the role of dynamics.
- Hardback | 624 pages
- 208.28 x 251.46 x 27.94mm | 1,224.69g
- 01 Nov 2002
- Pearson Canada, Toronto
- Prentice-Hall (Canada)
- Scarborough, Canada
- 2nd edition
Table of contents
1. Tour of the World. 2. Tour of the Book. I. THE SHORT RUN. 3. The Goods Market. 4. Financial Markets. 5. Goods and Financial Markets: The IS-LM Model. 6. Openness in Goods and Financial Markets. 7. The Goods Market in an Open Economy. 8. Output, the Interest Rate and the Exchange Rate. II. THE MEDIUM RUN. 9. The Labour Market. 10. Putting All Markets Together: The AS-AD Model. 11. The Phillips Curve. 12. Inflation, Activity and Money Growth. 13. Exchange Rates: In the Medium Run, Adjustments, Crises and Regimes. III. THE LONG RUN. 14. The Facts of Growth. 15. Saving, Capital Accumulation and Output. 16. Technological Progress and Growth. 17. Economics Growth in an Open Economy. IV. EXPECTATIONS. 18. Expectations: The Basic Tools. 19. Financial Markets and Expectations. 20. Expectations, Consumption and Investments. 21. Expectations, Output, and Policy. V. PATHOLOGIES. 22. Pathologies I: High Unemployment. 23. Pathologies II: High Inflation. 24. Pathologies III: Transition Eastern Europe and the Asian Crisis. VI. BACK TO POLICY. 25. Should Policy Makers Be Restrained? 26. Monetary Policy: A Summing Up. 27. Fiscal Policy: A Summing Up. VII. EPILOGUE. 28. Epilogue: The Story of Macroeconomics. VIII. APPENDICES. Appendix A: An Introduction to National Income Accounting. Appendix B: A Math Refresher. Appendix C: An Introduction to Econometrics. Appendix D: Symbols Used in This Text.