Description
Book Synopsis* This textbook focuses on a central (and often confusing) area - the key debates in macroeconomics* Reflects current teaching in covering both the open and closed economy* Reviews of the first edition praised lucidity, accessibility and avoidance of unnecessary mathematics. .
Trade Review"Since so much macroeconomics will soon be only of the open variety, it is good that a student will have such a thorough exposure within a macroeconomics book that covers so much else as well. The style is lucid throughout and reader-friendly. An excellent book."
Megnad Desai, London School of Economics and Political ScienceTable of ContentsPreface.
Introduction.
Part I: Keynes versus the Classics: Will Money-Wage Cuts Remove Unemployment?.
1. The Classical Model.
2. Keynes's General Theory.
Part II: Was Keynes's General Theory Simply a Special Case of the Classical Model?.
3. Special cases of the IS-LM Model and the Neoclassical Synthesis.
4. The Re-interpretation of Keynes.
Part III: Does Fiscal Policy Really Matter? The Crowding-out Debate:.
5. Wealth Effects and the Government Budget Identity.
Part IV: Inflation and Unemployment: Is there a Trade-off?.
6. Inflation and Unemployment.
Part V: Does Macroeconomic Policy Really Matter?.
7. The New Classical Macroeconomics: An Introduction.
8. The New Classical Macroeconomics: Some Responses.
Part VI: The Open Economy: The Consequences of Exchange Rate Regimes for Domestic Stabilization:.
9. The Open Economy: An Introduction.
10. The IS-LM Model of a Small Open Economy.
11. Stock-flow Equilibrium in the Open Economy.
12. Prices, Exchange Rates and Policy.
Bibliography.
Index.
