Macroeconomics

ISBN-10: 0324069715
ISBN-13: 9780324069716
Edition: 2nd 2002 (Revised)
Authors: Roger Farmer
List price: $228.95
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Description: Combining the best of traditional and modern approaches to macroeconomics, Farmer is the first book in the Intermediate market to genuinely fill the gap between the macroeconomics taught to graduate students and the macroeconomics taught to  More...

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Book details

List price: $228.95
Edition: 2nd
Copyright year: 2002
Publisher: Cengage South-Western
Publication date: 7/31/2001
Binding: Hardcover
Pages: 480
Size: 8.00" wide x 9.00" long x 1.00" tall
Weight: 3.014
Language: English

Combining the best of traditional and modern approaches to macroeconomics, Farmer is the first book in the Intermediate market to genuinely fill the gap between the macroeconomics taught to graduate students and the macroeconomics taught to undergraduates. It begins with the traditional IS-LM and AD-AS models that have been the staples of undergraduate macro courses for decades, and then the second half of the book introduces newer, dynamic theories of macroeconomics, including various growth models. The result is a text that describes the emerging consensus view of macro.

Introduction and Measurement
What This Book Is About
Introduction
The Business Cycle
Inflation
Economic Theory and Economic Facts
Conclusion
Measuring the Economy
Introduction
Dividing up the World Economy
Measuring Gross Domestic Product
The Components of Gross Domestic Product
Measuring Wealth
The Link Between Gross Domestic Product and Wealth
Conclusion
Macroeconomic Facts
Introduction
Transforming Economic Data
Measuring Unemployment
Measuring Inflation
Inflation and the Business Cycle
Conclusion
The Classical Approach to Aggregate Demand and Supply
The Theory of Aggregate Supply
Introduction
The Demand for Labor
The Supply of Labor
The Classical Theory of Aggregate Supply
Using the Classical Theory
Aggregate Demand and the Classical Theory of the Price Level
Introduction
The Theory of the Demand for Money
Aggregate Demand and the Demand and Supply of Money
The Classical Theory of the Price Level
The Complete Classical Theory of Aggregate Demand and Supply
Using the Classical Theory to Understand Data
Conclusion
Saving and Investment
Introduction
Saving, Investment, and the Capital Market
The Theory of Investment
Households and the Saving Supply Curve
Equating Demand and Supply
Saving and Investment in an Open Economy
Conclusion
The Modern Approach to Aggregate Demand and Supply
Unemployment
Introduction
The History of Unemployment
Explaining Unemployment
The New-Keynesian Theory of Unemployment
The Aggregate Labor Market and the Natural Rate of Unemployment
Unemployment and Economic Policy
Conclusion
The New-Keynesian Theory of Aggregate Supply
Introduction
The Theory of Nominal Rigidity
Getting From the Short Run to the Long Run
New-Keynesian Theory and Economic Policy
Conclusion
The Demand for Money and the LM Curve
Introduction
The Opportunity Cost of Holding Money
The Utility Theory of Money
Using the Theory of Money Demand
The LM Curve
Conclusion
The Supply of Money
Introduction
What is Money?
A Short History of Money
The Role of the Central Bank
The Monetary Base and the Money Multiplier
Conclusion
The IS Curve
Introduction
The Theory of the Capital Market
Deriving the is Curve
Conclusion
IS-LM and Aggregate Demand
Introduction
The IS-LM Model
Aggregate Demand and Supply
Conclusion
The Open Economy
Introduction
Fixed and Flexible Exchange Rates
Managing an Open Economy
The Collapse of Bretton Woods
Fixed Versus Flexible Rates
Conclusion
Dynamic Macroeconomics
The Government Budget
Introduction
Debt and Deficits
Modeling the Growth of Government Debt
The Sustainability of the Budget Deficit
Different Perspectives on Debt and Deficits
Conclusion
Neoclassical Growth Theory
Introduction
The Sources of Economic Growth
The Neoclassical Growth Model
The Effects of Productivity Growth
Conclusion
Endogenous Growth Theory
Introduction
The Neoclassical Model and the International Economy
The Model of Learning by Doing
Learning by Doing and Endogenous Growth
Conclusion
Unemployment, Inflation, and Growth
Introduction
The Classical Approach to Inflation and Growth
The New-Keynesian Approach to Inflation and Growth
Inflation and Growth When Expectations are Fixed
Conclusion
Expectations and Macroeconomics
Introduction
Postwar Economic History of the United States
The New-Keynesian Model
The Federal Reserve System and Monetary Policy
Conclusion
What We Know and What We Don't
Introduction
What we Know
The Research Frontier
The Future
Appendix
Glossary
Index

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