Understanding Macroeconomics

Wealth and output; Output and income; Saving and investment; The Consumption sector; Investment and equilibium; The government sector; Money; Money and the macro system; Employment and output; The problem of growth.

This book offers a clear exposition of introductory macroeconomic theory along with more than 600 one- or two-sentence "news clips" that serve as illustrations and exercises.

Macroeconomics: Understanding the Global Economy, 3rd Edition is to help students – and indeed anyone – understand contemporary and past economic events that shape the world we live in, and at a sophisticated level. But it does so without focusing on mathematical techniques and models for their own sake. Theory is taken seriously – so much so that the authors go to pains to understand the key aspects of theories in a way that will not put people off before they see how theories are useful to analyse issues. The authors believe that theories are essential to better understand the world, thus the book includes a wealth of historic and current episodes and data to both see how theories can help interpret the world and also to judge their validity. Economies today are very inter-connected; what happens in China matters pretty much everywhere; and what happens in one (even small) country in the euro zone has implications for the whole euro area and beyond, consequently Macroeconomics, 3rd Edition adopts a very international focus.

Principles of Macroeconomics is a lucid and concise introduction to the theoretical and practical aspects of macroeconomics. This revised and updated third edition covers key macroeconomic issues such as national income, investment, inflation, balance of payments, monetary and fiscal policies, economic growth and banking system. This book also explains the role of the government in guiding the economy along the path of stable prices, low unemployment, sustainable growth, and planned development through many India-centric examples. Special attention has been given to macroeconomic management in a country linked to the global economy. This reader-friendly book presents a wide coverage of relevant themes, updated statistics, chapter-end exercises, and summary points modelled on the Indian context. It will serve as an indispensable introductory resource for students and teachers of macroeconomics.

The new edition of a concise and nontechnical but rigorous introductory text that emphasizes fundamental concepts and real-world applications, thoroughly revised and updated. This introductory text offers an alternative to the encyclopedic, technically oriented approach taken by traditional textbooks on macroeconomic principles. Concise and nontechnical but rigorous, its goal is not to teach students to shift curves on diagrams but to help them understand fundamental macroeconomic concepts and their real-world applications. It accomplishes this by providing a clear exposition of introductory macroeconomic theory along with more than 700 one- or two-sentence “news clips,” based on economics media coverage, as illustrations or student exercises. Although the writing is accessible, end-of-chapter questions are challenging, requiring a thorough understanding of related macroeconomic concepts, critical-thinking skills, and an ability to make connections to the real world. This fourth edition has been thoroughly revised and updated, with new material on such topics as aggregate supply and demand, supply-side models, recent issues faced by the Federal Reserve, the role of government, and “burst bubbles.” The more challenging end-of-chapter questions are separated out, and news clip questions have been added that refer to recent events. Optional chapter appendixes offer technical material; other appendixes provide answers to sample exam questions and to even-numbered end-of-chapter questions. Text boxes (“curiosities”) offer short expositions of related topics. The book can be used as a text for principles of macroeconomics and applied macroeconomics courses, as a supplementary text for a traditional macro-principles course, or for MBA macroeconomics courses.

At each point in time, individuals make choices with respect to the acquisition, sale, and/or use of a variety of different goods. Such activity can be summarized by aggregate variables such as an economy’s total production of various goods and services, the aggregate level of unemployment, the general level of interest rates, and the overall level of prices. The focus of this book is on developing simple theoretical models that provide insight into the reasons for fluctuations in such aggregate variables. The models included explore how shocks or ‘impulses’ to the economy (e.g. changes to technology, the money supply, or government policy) impact individuals’ behaviour in specific markets, and the resulting implications in terms of changes in aggregate variables. This book provides the reader with an in-depth understanding of standard theoretical models: Walrasian, Keynesian and Neoclassical. Pedagogically sophisticated, it is theoretically based, rigorous and includes a host of real world case studies and exercises. Underpinned by solid microfoundations, it is written in a concise, accessible style and is an indispensable tool for all students who wish to a gain a firm grounding in the complexities of macroeconomic theories as well as government and private sector researchers of macroeconomics.

Understanding Macroeconomicsprovides short non-technical summaries of important areas of economics, especially those where the alternative literature is either not easily accessible or else highly specialized. An important objective of the book is to provide an analysis of current economic policy. It successfully demonstrates that simple economic analysis can be brought to bear lucidly and penetratingly on economic problems. The result is a book which, for its concise and authoritative survey of major areas, will be an essential purchase for school and college economics teachers and their libraries. It will also prove invaluable to university and polytechnic students of economics seeking an introduction to the application of economic theory to the major problems facing economists today.

This edited collection includes (but is not limited to) contributions in the form of chapters from the participants of the Workshop on the Macroeconomics of Migration at the University of Sheffield in June 2018. Migration is one of the most debated issues currently and is a pervasive feature of our economies. While extensive academic work has looked at the microeconomic aspects of migration, an open question is to better understand the links between migration and macroeconomic aggregates, such as per capita GDP. This book explores this overarching question, which has hit the key political and social debates all over Europe. Countries that are traditionally viewed as hosting economies for immigrants, such as for instance the UK and Germany, are concerned by immigration, while sending countries, such as Southern and Eastern European countries, are concerned by emigration. The contributions in this edited collection analyse empirically and theoretically the challenges international economic migration generates both in sending and receiving countries, thus offering a comprehensive approach to the question asked above. The book looks at several important issues in the current debates related to the labour market effects of migration for natives, the bi-directional relation between taxation and migration, migration and the informal economy, migration and business cycle dynamics, and brain waste. This edited collection will be of interest to academics, practitioners and policy makers who wish to take a closer look at the macroeconomic effects of migration and learn more about the current challenges posed by immigration in some countries and emigration in others.