Macroeconomics

by Gordon, Robert J.

• ISBN13: 9780321278807
• ISBN10: 0321278801
• Edition: 11th
• Format: Hardcover
• Copyright: 2009-01-01
• Publisher: Addison Wesley

Summary

At a time when so many pivotal economic issues are closely tied to the business cycle and monetary-fiscal policy, Robert Gordon provides critical insight into the American and global economy. Macroeconomics builds from an early emphasis on business cycles and monetary-fiscal policy, in both the closed and open economy, to a dynamic analysis of aggregate demand and supply shocks as the causes of inflation and unemployment. Gordon then discusses economic growth using theory and real-world examples to compare rich and poor countries before examining economic growth in the United States. In the Tenth Edition, Gordon tightens the overall framework of chapters, introduces four-color pedagogy, and prepares students to join in discussion and debate about the latest issues including the jobless recovery, recent tax cuts, globalization, and the explosion of U.S. productivity growth.

Table of Contents

Introduction To Measurement

What is Macroeconomics?

The Measurement of Income, Prices, and Unemployment

income, Interest Rates, Policy, And The Open Economy

The Simple Keynesian Theory of Income Determination

The IS-LM Model

Monetary Policy, Fiscal Policy, and the Government Budget

International Trade, Exchange Rates, and Macroeconomic Policy

Aggregate Demand, Aggregate Supply, And Inflation

Aggregate Demand, Aggregate Supply, and the Self-Correcting Economy

Inflation: Its Causes and Cures

Macroeconomics In The Long Run: Growth And The Public Debt

The Theory of Economic Growth

Explanations of Slow Growth in Productivity and Real Wages

The Government Budget and the Public Debt

Stabilization Policy In An Open Economy

The Goals of Stabilization Policy: Low Inflation and Low Unemployment

Money and Financial Markets

Stabilization Policy in the Closed and Open Economy

Sources Of Instability In The Private Economy

Instability in the Private Economy: Consumption behavior

Instability in the Private Economy: Investment

Debates At The Macroeconomic Frontier

New Classical Macro Confronts New Keynesian Macro

Conclusion: Where We Stand

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