Macroeconomic Theory: A Short Course

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M.E. Sharpe, Oct 31, 2002 - Business & Economics
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Thoroughly classroom tested, this concise text takes a fresh look at all the key topics in intermediate-level macroeconomic theory with carefully chosen linear versions of the standard models of both the closed and the open economy.

The author leaves open the possibility that the standard macroeconomic models are incomplete, and challenges students to form their own opinions. The text's key chapter on inflation replaces the standard assumption of monetary targeting with a central bank reaction function, making the treatment of monetary policy both more realistic and modern. The book also features chapters on the open economy under fixed and floating exchange rates, the classical growth model, and the Solow-Swan growth model.

 

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Contents

Macroeconomic Accounting
1
Prices and Output
21
Keynesian Theory
29
The IS Curve 49
49
The LM Curve
59
The ISLM Model
75
The Aggregate Demand Curve
93
The Aggregate Supply Curve
101
Fixed Exchange Rates
193
Flexible Exchange Rates
207
The Classical Growth Model
217
CONTENTS
221
The Neoclassical Growth Model
231
A Mathematical Appendix
243
B Answers to Selected Even Problems
251
Bibliography
259

viii
117
Open Economy Basics
175

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Page 267 - More on the Multiplier Effects of a Balanced Budget," American Economic Review, XLV (March 1955), 140.
Page 268 - Salvador!, N. (1995). Theory of Production: A Long-Period Analysis. Cambridge University Press, Cambridge, UK. Marglin, SA (1984). Growth, Distribution, and Prices. Harvard University Press, Cambridge, MA. Minsky, HP (1975). John Maynard Keynes. Columbia University Press, New York. Minsky, HP (1982). Can 'It' Happen Again: Essays on Instability and Finance.

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