ISBN-10: 0321485513

ISBN-13: 9780321485519

Edition: 11th 2009

Authors: Robert J. Gordon
List price: $210.00
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Description: KEY MESSAGE: Macroeconomics is widely praised for its ability to present theory as a way of evaluating key macro questions, such as why some countries are rich and others are poor. Gordon makes extensive use of data, international examples, and case studies throughout, and the Eleventh Edition incorporates critical developments in the field. New topics include the housing bubble and the role of housing wealth, the economic progress of China, recent discussions of growth theory, and the effect of oil prices on the economy. Introduction and Measurement: What Is Macroeconomics?; The Measurement of Income, Prices, and Unemployment. Income, Interest Rates, Policy, and the Open Economy: Spending, Income, and Interest Rates; Monetary and Fiscal Policy in the IS-LM Model; National Saving, the Government Budget, Foreign Borrowing, and the Twin Deficits; International Trade, Exchange Rates, and Macroeconomic Policy. Aggregate Demand, Aggregate Supply, Unemployment and Inflation: Aggregate Demand, Aggregate Supply, and the Self-Correcting Economy; Inflation: Its Causes and Cures; The Goals of Stabilization Policy: Low Inflation and Low Unemployment. Macroeconomics in the Long Run: Growth and Public Finance: The Theory of Economic Growth; The Big Questions of Economic Growth; The Government Budget, the Public Debt, and Social Security. Stabilization Policy in an Open Economy: Money and Financial Markets; Stabilization Policy in the Closed and Open Economy. Stability and Instability in the Private Economy: The Economics of Consumption Behavior; The Economics of Investment Behavior. Debates at the Macroeconomic Frontier: New Classical Macro Confronts New Keynesian Macro; Conclusion: Where WeStand. For all readers interested in macroeconomics.

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Book details

List price: $210.00
Edition: 11th
Copyright year: 2009
Publisher: Addison Wesley
Publication date: 3/27/2008
Binding: Hardcover
Pages: 672
Size: 8.00" wide x 10.00" long x 1.25" tall
Weight: 3.344
Language: English

Introduction and Measurement
What Is Macroeconomics?
How Macroeconomics Affects Our Everyday Lives
Defining Macroeconomics
Actual and Natural Real GDP
Macroeconomics in the Short Run and Long Run
Case Study: A Century of Business Cycles
Macroeconomics at the Extremes
Taming Business Cycles: Stabilization Policy
The Internationalization of Macroeconomics
The Measurement of Income, Prices, and Unemployment
Why We Care About Income
The Circular Flow of Income and Expenditure
What Transactions Should Be Included in Income and Expenditure?
Components of Expenditure
The Magic Equation and the Twin Deficits
How Much Income Flows from Business Firms to Households?
Nominal GDP, Real GDP, and the GDP Deflator
Measuring Unemployment
Case Study: Conflicting Measurements: Was the 2002-04 Recover Jobless or Not?
How We Measure Real GDP and the Inflation Rate
Income , Interest Rates, Policy, and the Open Economy
Spending, Income, and Interest Rates
Business Cycles and the Theory of Income Determination
Income Determination, Unemployment, and the Price Level
Planned Expenditure
Case Study: Why Did U.S. Saving Almost Vanish in This Decade?
The Economy In and Out of Equilibrium
The Multiplier Effect
Sources of Shifts in Planned Spending
How Can Monetary Policy Affect Planned Spending?
The Relation of Autonomous Planned Spending to the Interest Rate
The IS Curve
Conclusion: The Missing Relation
Allowing for Income Taxes and Income-Dependent Net Exports
Monetary and Fiscal Policy in the IS-LM Model
Introduction: The Power of Monetary and Fiscal Policy
Why People Use Money
Income, the Interest Rate, and the Demand for Money
The LM Curve
The IS Curve Meets the LM Curve
Monetary Policy in Action
How Fiscal Expansion Can Crowd Out Investment
Strong and Weak Effects of Monetary Policy
Strong and Weak Effects of Fiscal Policy
Using Fiscal and Monetary Policy Together
The Elementary Algebra of the IS-LM Model
The Government Budget, Foreign Borrowing, and the Twin Deficits
The Pervasive Effects of the Government Budget
Case Study: The Government Budget In Historical Perspective
The Structural Budget
National Saving and the Consequences of the Government Budge
Case Study: How the Deficits Rejoined to Become Twins
The Current Account and the Balance of Payments
Conclusion: Solutions to the National Saving Squeeze
International Trade, Exchange Rates, and Macroeconomic Policy
Exchange Rates
The Market for Foreign Exchange
Real Exchange Rates and Purchasing Power Parity
Exchange Rate Systems
Case Study: Asia Intervenes with Buckets to Buy Dollars and Finance the U.S. Current Account Deficit How Long Can This Continue?
Determinants of Net Exports
The Real Exchange Rate and Interest Rate
Effects of Monetary and Fiscal Policy with Fixed and Flexible Exchange Rates
Conclusion: Economic Policy in the Open Economy
Aggregate Demand, Aggregate Supply, Unemployment and Inflation
Aggregate Demand, Aggregate Supply, and the Self-Correcting Economy
Combining Aggregate Demand with Aggregate Supply
Flexible Prices and the AD Curve
Shifting the Aggregate Demand Curve with Monetary and Fiscal Policy
Alternative Shapes of the Short-Run Aggregate Supply Curve
The Short-Run Aggregate Su
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