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Full Description
Macroeconomics presents macroeconomic theory in a big-picture way. The text focuses on a single model, to provide you with a clear understanding of macroeconomics and its classical and Keynesian assumptions. Comprehensive coverage helps you analyze real macroeconomic data that real policy makers and researchers use.
The 11th Edition features new coverage, applications, and problems throughout. It also reflects recent events and developments in the field, such as the recent COVID-19 pandemic and the tools used by the Federal Reserve in response.
Contents
PART 1: INTRODUCTION
Introduction to Macroeconomics
The Measurement and Structure of the National Economy
PART 2: LONG-RUN ECONOMIC PERFORMANCE
Productivity, Output, and Employment
Consumption, Saving, and Investment
Saving and Investment in the Open Economy
Long-Run Economic Growth
The Asset Market, Money, and Prices
PART 3: BUSINESS CYCLES AND MACROECONOMIC POLICY
Business Cycles
The IS-LM/AD-AS Model: A General Framework for Macroeconomic Analysis
Classical Business Cycle Analysis: Market-Clearing Macroeconomics
Keynesianism: The Macroeconomics of Wage and Price Rigidity
PART 4: MACROECONOMIC POLICY: ITS ENVIRONMENT AND INSTITUTIONS
Unemployment and Inflation
Exchange Rates, Business Cycles, and Macroeconomic Policy in the Open Economy
Monetary Policy and the Federal Reserve System
Government Spending and Its Financing
Appendix A: Some Useful Analytical Tools