ABSTRACT
Research in macroeconomics in the last thirty years has featured, almost exclusively on two characteristics: an emphasis on the microfoundations of macroeconomics and secondly, intertemporal economics, that is, the behavior of economic actors over time. Curiously, textbooks in intermediate macroeconomics have been very slow to adopt these traits.
The aim of this book is to bring intermediate instruction in macroeconomics fully into line with the direction taken by the research community. Key hallmarks of the text include:
- a full introduction to the microfoundations of consumption and investment
- a complete model of the labor market with profit maximization for firms to determine labor demand and a utility maximization model to determine labor supply
- an analysis of the Baumol-Tobin model to determine money demand accompanied by a discussion of traditional money supply
Possessing a full range of additional learning features including a companion website, test bank and instructor’s manual, the book takes an international view of macroeconomics with case studies and examples from the United States and beyond.
TABLE OF CONTENTS
part |81 pages
Preliminary Topics
chapter |24 pages
An Introduction to Macroeconomics
chapter |32 pages
Concepts and Measurement
chapter |23 pages
Business Cycle Measurement
part |181 pages
Microfoundations
chapter |37 pages
Consumption
chapter |35 pages
Investment
chapter |33 pages
Government
chapter |34 pages
Money
chapter |40 pages
The Labor Market
part |243 pages
Aggregate Economic Models