Macroeconomics

Macroeconomics, First Canadian Edition offers a new approach to this subject. Drawing upon their vast experience in teaching and research, the authors have written an intermediate macroeconomics book that sets the standard for books in this third millennium. Delong provides a streamlined presentation of material, traditional and modern, resulting in a more understandable and comprehensive book.

This edition features five changes to the standard presentation of modern macroeconomics:

-Provide a more student-friendly way of learning growth theory

-Provide sufficient coverage of growth facts so that students learn the how and why of both growth over time and growth across countries·

-Treat the economy as open from the beginning of the book·

-Deal with interest rates, not money stocks·

-Increased focus on the Phillips curve.

These changes, while not radical are shifts in emphasis and changes of focus. They do not require recasting of courses, but they are very important in bringing the organization of the book into line with what students learning macroeconomics today need to know.

Part 1:Preliminaries

1 Introduction to Macroeconomics

2 Measuring the Macroeconomy

Appendix 2A The Circular Flow of Economic Activity

Part 2:Long-Run Economic Growth

3 The Theory of Economic Growth

4 The Reality of Economic Growth: History and Prospect

Part 3:Flexible-Price Macroeconomics

5 Building Blocks of the Flexible-Price Model

Appendix 5A A Closer Look at Consumption

Appendix 5B Present Value and Investment

6 Equilibrium in the Flexible-Price Model

7 Money, Prices, and Inflation

Part 4:Sticky-Price Macroeconomics

8 Building Blocks of the Flexible-Price Model

9 Investment, Net Exports, and Interest Rates

Appendix 9A The Term Premium and Expected Future Interest Rates

10 Extending the Sticky-Price Model: More Analytical Tools

11 The Phillips Curve and Expectations

Part 5:Macroeconomic Policy

12 Stabilization Policy

13 The Budget Balance, the National Debt, and Investment

14 Changes in the Macroeconomy and Changes in Macroeconomic Policy

Part 6:Open Economy Macroeconomics: Theory and Policy

15 Open Economy Macroeconomics: The Balance of Payments, International Parity Conditions and the Mundell-Fleming Model

16 International Economic Policy

Part 7:Future Prospects and Epilogue

17 The Future of Macroeconomics

Epilogue