Description

About The Book

Macroeconomics presents a new approach to

macroeconomics, based on microeconomic foundations

combined with Keynesian-style short-run policy analysis.

Table Of Contents

Introduction

PART I: THE LONG RUN

Production, Prices and the Distribution of Income

Interest Rates and Investment

Consumption and the Natural Rate of Interest

Capital Accumulation and Growth

Wage Setting and Unemployment

Money and Inflation in the Long Run

PART II: THE SHORT RUN

The Interest Rate and Production in the Short Run

Economic Activity and Inflation in the Short Run

PART III: ECONOMIC POLICY

Monetary Policy

Fiscal Policy

PART IV: THE OPEN ECONOMY

Exports, Imports, and International Financial Markets

The Open Economy in the Long Run

The Open Economy in the Short Run

Exchange Rate Systems and Monetary Union

PART V: BUSINESS CYCLES, POLICYMAKING, FINANCIAL MARKETS

Business Cycles

Institutions and Economic Policy

Financial Markets

The book features:

A pronounced international stance, systematically presenting data from several countries
• Consistent treatment of the long and short run and the closed and open economy
• A highly relevant approach that takes account of market imperfections and rigidities, which characterize real economies
• Up-to-date chapters on EMU, business cycles, institutions and policy, and financial markets and crises
• End of chapter summaries, exercises with varying levels of difficulty, plus appendices providing extension material

Written in a clear and direct style, Gottfries’s Macroeconomics is the ideal textbook for students who seek a thorough understanding of modern macroeconomics in preparation for work or further study.

About The Author

Nils Gottfries is a Professor of Economics at Uppsala University, Sweden and former editor

ofThe Scandinavian Journal of Economics. He has published extensively in journals including the QJE,

JPE, EJ, EER. Most of his research has been concerned with the microeconomic foundations of

macroeconomics, particularly the theory of the supply side: prices, wages, and unemployment. He was a

member of the Swedish commission on the EMU. He has been teaching macroeconomics regularly at

the intermediate and graduate levels.