Macroeconomics, 6th Edition

This is the eBook of the printed book and may not include any media, website access codes, or print supplements that may come packaged with the bound book. For courses in undergraduate Macroeconomics courses. A modern approach to teaching macroeconomics Macroeconomics uses a thoroughly modern approach by building macroeconomic models from microeconomic principles. As such, it is consistent with the way that macroeconomic research is conducted today. This approach allows for deeper insights into economic growth processes and business cycles–the key topics in macroeconomics. An emphasis on microeconomic foundations better integrates the study of macroeconomics with approaches learned in microeconomics and field courses in economics. By following an approach to macroeconomics that is consistent with current macroeconomic research, you become better prepared for advanced study in economics. The 6th Edition captures the latest developments in macroeconomic thinking, applied to recent economic events and developments in macroeconomic policy. With the financial crisis receding, new challenges that macroeconomists and policymakers currently need to address are covered in the text. Introduction and measurement issues -- Introduction -- Measurement -- Business cycle measurement -- Basic macroeconomic models : a one-period model and models of search and unemployment -- Consumer and firm behavior : the work-leisure decision and profit maximization -- A closed-economy one-period macroeconomic model -- Search and unemployment -- Economic growth -- Economic growth : malthus and solow -- Income disparity among countries and endogenous growth -- Savings, investment, and government deficits -- A two-period model : the consumption-savings decision and credit markets -- Credit market imperfections : credit frictions, financial crises, and social security -- A real intertemporal model with investment -- Money and business cycles -- Money, banking, prices, and monetary policy -- Business cycle models with flexible prices and wages -- New keynesian economics : sticky prices -- Inflation : phillips curves and neo-fisherism -- International macroeconomics -- International trade in goods and assets -- Money in the open economy -- Money, banking, and inflation -- Money, inflation, and banking : a deeper look -- Index