Macroeconomics

by Blanchard, Olivier

• ISBN13: 9780130133069
• ISBN10: 013013306X
• Edition: 2nd
• Format: Hardcover
• Copyright: 2000-02-01
• Publisher: PRENTICE HALL

Summary

Do you want a book that provides an integrated view of macroeconomics? Olivier Blanchard helps students to see the big macroeconomic picture by integrating one unifying model throughout the text. Are you tired of macroeconomics texts that take too many shortcuts? Olivier Blanchard gives thorough treatment to many concepts that other books just skim over, with the understanding that students will use these tools throughout their academic and professional careers. Do you want a book that allows the greatest degree of flexibility in learning and teaching macroeconomics? Olivier Blanchard's organization allows for the greatest degree flexibility, so professors can direct their class as they see fit, and students can learn from a methodology that matches the goals of their course.

Author Biography

Olivier Blanchard is the Class of 1941 Professor of Economics at MIT. He is also Chairman of the Department of Economics at MIT. He did his undergraduate work in France, and received a Ph.D. in economics from MIT in 1977. He taught at Harvard from 1977 to 1982, and has taught at MIT since 1983. He has frequently received the award for best teacher in the department of economics, most recently in 1999. He is a research associate of the National Bureau of Economic Research, a fellow of the Econometric Society, a member of the American Academy of Arts and Sciences, and a past Vice President of the American Economic Association.

Table of Contents

Introduction	1	(3)
A Tour of the World	3	(16)
A Tour of the Book	19	(20)
THE CORE	39	(226)
The Short-Run	39	(2)
The Goods Market	41	(18)
Financial Markets	59	(20)
Goods and Financial Markets: The IS-LM Model	79	(26)
The Medium Run	103	(2)
The Labor Market	105	(20)
Putting All Markets Together. The AS-AD Model	125	(24)
The Phillips Curve	149	(18)
Inflation, Activity, and Money Growth	167	(22)
The Long Run	187	(2)
The Facts of Growth	189	(16)
Saving, Capital Accumulation, and Output	205	(22)
Technological Progress and Growth	227	(22)
Technological Progress, Wages, and Unemployment	249	(16)
EXTENSIONS	265	(216)
Expectations	265	(2)
Expectations: The Basic Tools	267	(20)
Financial Markets and Expectations	287	(22)
Expectations, Consumption, and Investment	309	(18)
Expectations, Output, and Policy	327	(16)
The Open Economy	341	(2)
Openness in Goods and Financial Markets	343	(18)
The Goods Market in an Open Economy	361	(20)
Output, the Interest Rate, and the Exchange Rate	381	(18)
Exchange Rates: Adjustments, Crises, and Regimes	399	(26)
Pathologies	423	(2)
Pathologies I: High Unemployment	425	(22)
Pathologies II: High Inflation	447	(16)
Pathologies III: Transition in Eastern Europe, and the Asian Crisis	463	(18)
BACK TO POLICY	481	(56)
Should Policy Makers Be Restrained?	483	(18)
Monetary Policy: A Summing Up	501	(16)
Fiscal Policy: A Summing Up	517	(20)
EPILOGUE	537
Epilogue: The Story of Macroeconomics	537
Appendix 1 An Introduction to National Income and Product Accounts	1	(5)
Appendix 2 A Math Refresher	6	(4)
Appendix 3 An Introduction to Econometrics	10
Glossary	1	(1)
Index	1