Macroeconomics As a Second Language

ISBN-10: 0470505389

ISBN-13: 9780470505380

Edition: 2011

Authors: Martha L. Olney

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Description:

The key to understanding macroeconomics for business professionals is to view it as a second language. Olney takes this innovative approach as he zeroes in on the concepts, assumptions, and models they'll need to learn. Each chapter begins with the equations and graphs that will enable them to dive into the application of economic principles. Tip notes highlight tricks that will help them remember the material, and they'll find common errors to avoid. They'll also be able to test what they've learned by reviewing Try questions. This approach will allow business professionals to gain an intuitive understanding of economic ideas that they'll be able use in the field.
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Book details

List price: $45.95
Copyright year: 2011
Publisher: John Wiley & Sons, Incorporated
Publication date: 1/11/2011
Binding: Paperback
Pages: 352
Size: 6.25" wide x 9.25" long x 0.50" tall
Weight: 0.836
Language: English

About the Author
Preface
Acknowledgments
Basics
Economics Tools-Math and Graphing
Introudction to Economics
Overview of Macroeconomics
Economic Models
Mathematical Tools
Graphing Tools
Conclusion
Production Possibilities Frontier, Economic Growth, and Gains from Trade
The Production Possibilities Frontier
Economic Growth
Gains from Trade
Demand and Supply
Overview of Model of Demand and Supply
Demand
Supply
Equilibrium
Changes of Equilibrium
Measuring the Macroeconomy
Some History of Macroeconomics
Output
Growth, Stagnation, Recession, Recovery, and More
Unemployment
Inflation
What's Ahead
The Long Run
Long-Run Economic Growth
What Is Growth?
Aggregate Production Function
Sources of Growth
The Productivity Growth Slowdown and Resurgence
Keynesian Principles
Keynesian Cross
Unemployment Depends on Aggregate Spending
Aggregate Demand and Aggregate Expenditures: An Important Note
The Link between Output and Aggregate Demand
Circular Flow
Output Equals Income
Macroeconomic Equilibrium with Equations
Keynesian Cross Diagram
A Bit of Accounting
Aggregate Demand
An Overview of the Four Types of Spending
Determinants of Consumption Spending
The Consumption Function and Related Concepts
Determinants of Investment Spending
Determinants of Government Spending
Determinants of Net Export Spending
Summary
The Spending Multiplier
The Multiplier Process
The Size of the Multiplier
More Complicated Multipliers: Taxes
More Complicated Multipliers: Imports
Summary
Policy
Macroeconomic Policy: The Overview
When Equilibrium Output Doesn't Equal Full Employment Output
Fiscal and Monetary Policy
Contractionary and Expansionary Policy
Policy Lags
Fiscal and Monetary Policy in the Great Recession of 2007-2009
Fiscal Policy
Government Spending and Tax Multipliers
Discretionary Fiscal Policy and Automatic Stabilizers
Deficit and Debt
Financing a Government Deficit
Money Creation
What Is Money?
Banks and Check Clearing
Banks Create Money by Making Loans
The Money Multiplier
The Money Market
The Money Market
Why the Fed Must Choose between Money and Interest Rates
What's Ahead
Monetary Policy and Interest Rates
Monetary Policy Targets and Tools
Interest Rates
Monetary Policy and the Macroeconomy
Inflation and Output: The Quantity Theory Approach
Rules versus Discretion
Creative Monetary Policy During the Great Recession of 2007-2009
Inflation and Output
Inflation and Output: The AS/AD Approach
Overview of the AS/AD Model
Aggregate Demand
Aggregate Supply
AS/AD Equilibrium
Dynamic AS/AD Model
What's Ahead
Inflation and Output: The Monetary Policy Approach
Comparing the AS/AD and Monetary Policy Approaches
The Fed's Choice: Money Supply or Interest Rate Target
The Fed Targets the Federal Funds Rate
Interest Rates Affect Aggregate Demand
The (Usual) Trade-offs Between Unemployment and Inflation: Phillips Curve
Targeting Interest Rates: The Taylor Rule
Some Fights Are Easier Than Others
Conclusion
The Open Economy
Open Economy Macroeconomics
International Trade Policies
Balance of Payments
Exchange Rates
Open Economy Macro
Answers to "TRY" Questions
Index
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