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Chapter 12 (pdf)

Book Details

  • Paperback
  • Bookstore's Wholesale Price: $120.70
  • December 2016
  • ISBN: 978-0-393-60248-7
  • 640 pages
  • Territory Rights: Worldwide


Macroeconomics

Fourth Edition

Paperback

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$70.00

Charles I. Jones (Author, Stanford University)

 

Modern macroeconomics explained by the expert on growth.

Combining innovative treatment of macroeconomic concepts with the clearest presentation of long-run growth theory, Jones offers students an accessible and truly modern introduction to the field. With new primers, important updates on the aftermath of the great recession, and over 90 updated charts and tables, Macroeconomics, Fourth Edition, is the ideal text for exposing undergraduates to current perspectives at a level they can understand.

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An approach that reflects economic growth in the twenty-first century

In Part II of the text (Chapters 3–8), Jones walks students through a uniquely accessible introduction to modern growth theory. In Chapters 5 and 8, he combines the Solow Model with complete, accessible coverage of the Romer Model (the foundation of modern growth theory) to provide a more accurate explanation of how growth really works.

A new case study that bridges the ISLM and ISMP models, making it easier to teach short-run growth

Innovative coverage of the short run aids the transition to the modern IS-MP model from the traditional IS-LM model. A new primer in Chapter 12 shows students how the IS-MP model compares with the IS-LM approach they may have encountered in their Principles course. This comparison builds understanding and gives context for applying the IS-MP model in the chapter.  

An emphasis on discussing and solving problems that are up-to-date and reflect real-world concerns

To truly analyze macroeconomy, students must analyze current data and real-world situations, then apply their knowledge using models and equations. Macroeconomics provides the necessary tools ,including new sections on the aftermath of the great recession, over 90 charts and tables that have been meticulously created with new data, a primer on using the Federal Reserve's FRED database, and more. Every chapter includes two complete Worked Exercises that walk students step-by-step through a problem involving an important chapter concept.  

    Part 1 — Preliminaries
    1) Introduction to Macroeconomics
    2) Measuring the Macroeconomy

    Part 2 — The Long Run
    3) An Overview of Long-Run Economic Growth
    4) A Model of Production
    5) The Solow Growth Model
    6) Growth and Ideas
    7) The Labor Market, Wages, and Unemployment
    8) Inflation

    Part 3 — The Short Run
    9) An Introduction to the Short-Run
    10) The Great Recession: A First Look
    11) The IS Curve
    12) Monetary Policy and the Phillips Curve
    13) Stabilization Policy and the AS/AD Framework
    14) The Great Recession and the Short-Run Model
    15) DSGE Models: The Frontier of Business Cycle Research

    Part 4 — Applications and Microfoundations
    16) Consumption
    17) Investment
    18) The Government and the Macroeconomy
    19) International Trade
    20) Exchange Rates and International Finance
    21) Parting Thoughts