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Full Description
Retaining Stiglitz's neat integration of microeconomics and macroeconomics, Driffill emphasizes policy themes so that students get a sound grasp of real world issues. Major modifications have been made so that recent developments in monetary policy, such as the emergence of the Euro or the appointment of the Monetary Policy Committee of the Bank of England are fully covered. Growth, unemployment and European policy issues are all comprehensively presented.
Contents
Part 1 Introductiontrade; demand, supply and price; using demand and supply; time and risk; the public sector. Part 2 Perfect markets; the consumption division; labour supply and savings; the firm's costs; production; competitive equilibrium. Part 3 Imperfect markets: monopolies and imperfect competition; oligopolies; government policies towards competition; technological change; imperfect information in the product market; imperfections in the labour market. Part 4 Policy issues: externalities and the environment; taxes, transfers and redistribution; public decision making. Part 5 Full-employment macroeconomics: macroeconomics goals and measures; the full-employment model; using the full-employment model. Part 6 Unemployment macroeconomics: overview of unemployment macroeconomics; aggregate demand; consumption and investment; money, banking and credit; monetary theory; fiscal and monetary policy. Part 7 Dynamics and macro policy: inflation - wage and price dynamics; unemployment - understanding wage rigidities; inflation versus employment - approaches to policy. Part 8 Issues in macroeconomic policy: growth and productivity; economic integration - the European Union; trade policy; alternative economic systems; development.NER(01): ROW
