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Macroeconomic Theory

By Jean-Pascal Benassy

Product Image: Macroeconomic Theory

Macroeconomic Theory

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Description
This graduate textbook is a "primer" in macroeconomics. It starts with essential undergraduate macroeconomics and develops in a simple and rigorous manner the central topics of modern macroeconomic theory including rational expectations, growth, business cycles, money, unemployment, government policy, and the macroeconomics of nonclearing markets. The emphasis throughout the book is on both foundations and presenting the simplest model for each topic that will deliver the relevant answers.

The first two chapters recall the main workhorses of undergraduate macroeconomics: the Solow-Swan growth model, the Keynesian IS-LM model, and the Phillips curve. The next chapters present four fundamental "building blocks" of modern macroeconomics: rational expectations, intertemporal dynamic models, nonclearing markets and imperfect competition, and uncertainty. Later the book deals with growth, notably the Ramsey model, overlapping generations, and endogenous growth. Chapter 10 moves to the famous "real business cycles" (RBC), which integrate in a unified framework growth and fluctuations. The final chapters look at the issue of stabilization, how best to guard the economy from shocks, and the connections between politics and the macroeconomy. To make the book self contained, a mathematical appendix gives a number of simple technical results that are sufficient to follow the formal developments of the book.
Product details
Edition:
illustrated
Number of Pages:
604
Release Date:
2011-04-08
Publication Date:
2011-04-01
Publisher:
Oxford University Press
Languages:
Original: English
ISBN10:
0195387716
ISBN13:
9780195387711
GPSR Manufacturer Reference:
[email protected]
Weight:
1315 g
Height:
183 cm
Width:
260 cm
Thickness:
37 cm
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