Students often struggle to see how macroeconomic models compare to one another and fit into the big picture. Using a unified approach based on a single economics model, Abel, Bernanke, and Croushore provide a balanced, comprehensive treatment of classical and Keynesian economics, presenting macroeconomic theory in a way that prepares students to analyze real macroeconomic data. The Sixth Edition Update consists of the Sixth Edition of Macroeconomics and the 2008–2009 Update Booklet, which is correlated to sixteen key chapter topics with resource material including speeches, reports, or testimony, most from the Federal Reserve Board. Questions at the end of each topic discussion demonstrate how macroeconomic theory has direct implications on today’s economic policies.
Introduction: Introduction to Macroeconomics; The Measurement and Structure of the National Economy. Long-Run Economic Performance: Productivity, Output, and Employment; Consumption, Saving, and Investment; Saving and Investment in the Open Economy; Long-Run Economic Growth; The Asset Market, Money, and Prices. Business Cycles and Macroeconomic Policy: Business Cycles; The IS-LM/AD-AS Model: A General Framework for Macroeconomic Analysis; Classical Business Cycle Analysis: Market-Clearing Macroeconomics; Keynesianism: The Macroeconomics of Wage and Price Rigidity. Macroeconomic Policy: Its Environment and Institutions: Unemployment and Inflation; Exchange Rates, Business Cycles, and Macroeconomic Policy in the Open Economy; Monetary Policy and the Federal Reserve System; Government Spending and Its Financing. For all readers interested in macroeconomics.