Now revised and updated, this volume offers the latest edition of the very successful macroeconomics textbook. The authors deal with sophisticated issues using advanced economic theory, but in a manner that is accessible to anyone taking a single course in macroeconomics. They begin with real-world economic issues and describe why these matter, before embarking on economic theory, ensuring that readers emerge with a good practical understanding of the global economy and how economists think about it.
Preface Part One. Introduction Chapter 1. What Is Macroeconomics? Chapter 2. The Language of Macroeconomics: The National Income Accounts Part Two. Economic Growth and The Supply Side Chapter 3. The Wealth of Nations: The Supply Side Chapter 4. Capital Accumulation and Economic Growth Chapter 5. Total Factor Productivity, Human Capital and Technology Chapter 6. Endogenous Growth and Convergence Chapter 7. Unemployment and the Labour Market Chapter 8. International Trade Chapter 9. Globalization Part Three. Business Cycles and Economic Policy Chapter 10. Consumption and Investment Chapter 11. Business Cycles Chapter 12. Money and Prices Chapter 13. Monetary Policy Chapter 14. Fiscal Policy and the Role of Government Chapter 15. Stabilization Policy Part Four. Asset Markets and the Financial Sector Chapter 16. Financial Markets: Equities and Bonds Chapter 17. The Banking Sector Chapter 18. Sovereign Debt and Default Part Five. Exchange Rates and Global Capital Markets Chapter 19. Exchange Rate Determination I: The Real Exchange Rate Chapter 20. Exchange Rate Determination II: Nominal Exchange Rates and Asset Markets Chapter 21. Currency Crises and Exchange Rate Systems Glossary Notes Index
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