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Modern Macroeconomics

Modern Macroeconomics
Author: Sanjay K. Chugh
Publisher: MIT Press
ISBN: 0262029375
Size: 74.99 MB
Format: PDF, Kindle
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A textbook that approaches modern macroeconomics through its microeconomic foundations, with an emphasis on financial market connections and policy applications. The modern study and analysis of macroeconomics begins by considering how microeconomic units—consumers and firms—make decisions, and then investigates how these choices interact to yield economy-wide outcomes. This innovative textbook takes this “modern” approach, teaching macroeconomics through its microeconomic foundations. It does so by adopting the representative agent paradigm. By modeling the representative consumer and the representative firm, students will learn to describe macroeconomic outcomes and consider the effects of macroeconomic policies. Unique in its coverage of monopolistic competition, financial markets, and the interaction of fiscal and monetary policy, Modern Macroeconomics is suitable for use in intermediate undergraduate, advanced undergraduate, and graduate level courses. The book first introduces the building blocks of macroeconomics, the heart of which is the representative consumer. It goes on to offer a brief history of macroeconomic thought, including supply-side economics, the Phillips curve, and the New Keynesian framework. It then covers two policy applications, monetary policy and the interaction of monetary and fiscal policy; optimal policy analysis for both the flexible price and the rigid price case; long-run steady states, treating the Solow growth framework and the neoclassical growth model; a search-and-matching framework for the analysis of unemployment; and the application of the tools of modern macroeconomics to “open economy,” or international macroeconomics. End-of-chapter problem sets enable students to apply the concepts they have learned. A separate Solutions Manual will be available for students to purchase. Teaching materials, including complete solutions and slides, will be available to qualified instructors.
Modern Macroeconomics
Language: en
Pages: 552
Authors: Sanjay K. Chugh
Categories: Business & Economics
Type: BOOK - Published: 2015-10-16 - Publisher: MIT Press
A textbook that approaches modern macroeconomics through its microeconomic foundations, with an emphasis on financial market connections and policy applications. The modern study and analysis of macroeconomics begins by considering how microeconomic units—consumers and firms—make decisions, and then investigates how these choices interact to yield economy-wide outcomes. This innovative textbook
Modern Macroeconomics
Language: en
Pages: 807
Authors: Brian Snowdon, Howard R. Vane
Categories: Business & Economics
Type: BOOK - Published: 2005-01-01 - Publisher: Edward Elgar Publishing
Snowdon and Vane s book is extremely welcome. Indeed the authors examine, compare, and evaluate the evolution of the major rival stories comprising contemporary macroeconomic thought, but they also trace the development and interaction of key events and ideas as they occurred in the last century. Interviews with leading economists,
Foundations of Modern Macroeconomics
Language: un
Pages: 944
Authors: Ben J. Heijdra
Categories: Business & Economics
Type: BOOK - Published: 2017-07-27 - Publisher: Oxford University Press
The study of macroeconomics can seem a daunting project. The field is complex and sometimes poorly defined and there are a variety of competing approaches. It is easy for the senior bachelor and starting master student to get lost in the forest of macroeconomics and the mathematics it uses extensively.
Banks and Finance in Modern Macroeconomics
Language: en
Pages: 296
Authors: Bruna Ingrao, Claudio Sardoni
Categories: Business & Economics
Type: BOOK - Published: - Publisher: Edward Elgar Publishing
The world financial crisis of 2007–2008 dramatically showed the importance of credit and financial relations for the efficient working of the economy. For a long time mainstream macroeconomics ignored these aspects and concentrated only on the real sector or just took into account the most elementary picture of the financial
IS-LM and Modern Macroeconomics
Language: un
Pages: 166
Authors: Warren Young, Ben-Zion Zilberfarb
Categories: Business & Economics
Type: BOOK - Published: 2012-12-06 - Publisher: Springer Science & Business Media
IS-LM is perhaps the prime example of `cognitive dissonance' in economics, and is problematic to many economists. On the one hand, the IS-LM model is still taught by many academic economists or they use it to derive the AD-AS approach. On the other hand, the same economists realize the limitations
Transforming Modern Macroeconomics
Language: en
Pages: 215
Authors: Roger E. Backhouse, Mauro Boianovsky
Categories: Business & Economics
Type: BOOK - Published: 2013 - Publisher: Cambridge University Press
"This book tells the story of the search for non-Walrasian micro-foundations for macroeconomic theory, from the disequilibrium theories of Patinkin, Clower, and Leijonhufvud to recent dynamic stochaotic general equilibrium models with imperfect competition. Placing this search against the background of wider developments in macroeconomics, the authors contend that this was
Classical Macroeconomics
Language: en
Pages: 272
Authors: James C.W. Ahiakpor
Categories: Business & Economics
Type: BOOK - Published: 2004-02-26 - Publisher: Routledge
John Maynard Keynes failed to correctly interpret classic economic concepts, and dismissed the classical explanations and conclusions as being irrelevant to the world in which we live. The trauma of the Great Depression and Keynes's changed definition of economic concepts, aided by Eugen Böhm-Bawerk, have made it difficult for modern
Reflections on the Development of Modern Macroeconomics
Language: en
Pages: 245
Authors: Brian Snowdon, Howard R. Vane, Roger Backhouse
Categories: Business & Economics
Type: BOOK - Published: 1997-01-01 - Publisher: Edward Elgar Publishing
This is a collection of essays on the development of modern macroeconomics. It reflects the profound and controversial changes that the subject has undergone in the period 1974 to 1999. Each of the eight essays focuses on an important issue relating to those changes.
Modern Monetary Theory and European Macroeconomics
Language: en
Pages: 208
Authors: Dirk H. Ehnts
Categories: Business & Economics
Type: BOOK - Published: 2016-10-14 - Publisher: Taylor & Francis
This book provides a new methodological approach to money and macroeconomics. Realizing that the abstract equilibrium models lacked descriptions of fundamental issues of a modern monetary economy, the focus of this book lies on the (stylized) balance sheets of the main actors. Money, after all, is born on the balance
Advanced Modern Macroeconomics
Language: un
Pages: 604
Authors: Max Gillman
Categories: Business & Economics
Type: BOOK - Published: 2011 - Publisher: Financial Times/Prentice Hall
Modern Macroeconomics, by Max Gillman, takes a new and modern approach to macroeconomic theory using microeconomic foundations. Building from the standard neo-classical models, Gillman has developed a new dynamic model which works to explain business cycles and unemployment, why you can have a banking lead recession as well as fiscal