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Full Description
A comprehensive text on macroeconomic theories with reference to developing economies.
This new textbook presents macroeconomic theory and its implications in policy formulation in a unique manner, continuously weaving in scenarios from India and other emerging economies. While the book meticulously guides the reader through the workings of key macroeconomic models, it also discusses at length the assumptions that make the models applicable to developing market nations. It offers interesting insights into the Simple Keynesian Cross Model, international capital movement and different schools of macroeconomic thought, and compares macroeconomic models of developed and developing economies.
Key Features:
· Boxed text highlighting experiences of emerging market economies and demonstrating the role of macroeconomic theory in policy implications
· Use of charts and tables with current data for better comprehension and illustration of the theories and inter-linkages of macroeconomic forces
· Theoretical content of each chapter is illustrated and supplemented by relatable examples and case studies based on policies undertaken by the Indian economy
· A must-have companion for students of economics, policy studies, management, administrative services, commerce and others
Contents
Foreword
Preface and Acknowledgements
Introduction to Macroeconomics
National Income Accounts: The Toolbox for Macroeconomics
The Basic Keynesian Demand Model and the Hidden Cross
Economic Growth
Introduction to the Financial Sector: Bonds and Interest Rates
Money, Money Supply and the Banking System
The Demand for Money
The IS-LM Model: The Demand Side of the Economy
The IS-LM Model: Fiscal Policy and Compatibility with the Keynesian Model
Monetary Policy, the Policy Mix and Constraints on Policy-making
Consumption and Investment Demand
The Role of the Government and the Government Budget Balance
The Supply Side: A Complete Macroeconomic Model of the Economy
The Budget: Links to Unemployment, Inflation and the Debt Burden
The Open Economy
Capital Mobility
Determination of Exchange Rates in an Open Economy
Business Cycle Theory
The Labour Market as the Kingpin: The Various Schools of Macroeconomic Thought
Disaggregated Multi-sector Models for Industrial Nations and Developing Countries
Index
