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Watch this video interview with Greg Mankiw and Larry Ball discussing the future of the intermediate macroeconomics course and their new text. Check out preview content for Macroeconomics and the Financial Systemhere. The financial crisis and subsequent economic downturn of 2008 and 2009 was a dramatic reminder of what economists have long understood: developments in the overall economy and developments in the financial system are inextricably intertwined. Derived and updated from two widely acclaimed textbooks (Greg Mankiw's Macroeconomics, Seventh Editionand Larry Ball's Money, Banking, and the Financial System), this groundbreaking text is the first and only intermediate macroeconomics text that provides substantial coverage of the financial system.
N. Gregory Mankiw is a Professor of Economics at Harvard University. He began his study of economics at Princetion Universtiy, where he received an A.B. in 1980. After earning a Ph.D in economics from MIT, he began teaching at Harvard in 1985 and was promoted to full professor in 1987.
Professor Mankiw is a regular participant in academic and policy debates. His research ranges across macroeconomics and includes work on price adjustment, consumer behavior, financial markets, monetary and fiscal policy, and economic growth. In addition to his duties at Harvard, he has been a research associate of the National Bureau of Economic Research, a member of the Brookings Panel on Economic Activity, and an adviser to the Federal Reserve Bank of Boston and the Congressional Budget Office. From 2003 to 2005 he was chairman of the President's Council of Economic Advisers.
Laurence Ball is Professor of Economics at Johns Hopkins University. He is a research associate for the National Bureau of Economic Research and has been a visiting scholar at the Central Bank of Norway and the Reserve Bank of Australia. His academic honors include the Houblon-Norman Fellowship (Bank of England), a Professional Fellowship in Monetary Economics (Victoria University of Wellington and Reserve Bank of New Zealand), the NBER Olin Fellowship, and the Alfred P. Sloan Research Fellowship.
Table of Contents
Part I: Introduction 1. The Science of Macroeconomics 2. The Data of Macroeconomics
Part II: Classical Theory: The Economy in the Long Run 3. National Income: Where It Comes From and Where It Goes 4. Money and Inflation 5. The Open Economy 6. Unemployment
Part III: Growth Theory: The Economy in the Very Long Run 7. Economic Growth I: Capital Accumulation and Population Growth 8. Economic Growth II: Technology, Empirics, and Policy
Part IV: Business Cycle Theory: The Economy in the Short Run 9. Introduction to Economic Fluctuations 10. Aggregate Demand I: Building the IS-LM Model 11. Aggregate Demand II: Applying the IS-LM Model 12. Aggregate Supply and the Short-run Tradeoff Between Inflation and Unemployment
Part V: Macroeconomic Policy Debate 13. Stabilization Policy 14. Government Debt and Budget Deficits
Part VI: The Financial System 15. Introduction to the Financial System 16. Asset Prices and Interest Rates 17. Securities Markets 18. Banking 19. Financial Crises