Macroeconomics
Understanding the Global Economy
3. Edition March 2012
622 Pages, Softcover
Textbook
Short Description
Now revised and updated, this volume offers the latest edition of the very successful macroeconomics textbook. The authors deal with sophisticated issues using advanced economic theory, but in a manner that is accessible to anyone taking a single course in macroeconomics. They begin with real-world economic issues and describe why these matter, before embarking on economic theory, ensuring that readers emerge with a good practical understanding of the global economy and how economists think about it.
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.
1. What is Macroeconomics?
2. The Language of Macroeconomics: The National Income Accounts
Economic Growth and the Supply side.
3. The Wealth of Nations - the Supply Side.
4. Capital Accumulation and Economic Growth.
5. Total Factor Productivity, Human Capital, and Technology.
6. Endogenous Growth and Convergence.
7. Unemployment and the Labor Market.
8. International Trade.
9. Globalization.
Money and Taxes.
10. Fiscal Policy and the Role of Government.
11. Money and Prices.
Business Cycles and Economic Policy.
12. Consumption.
13. Investment.
14. Business Cycles.
15. Monetary Policy.
16. Stabilization Policy.
Asset Markets and Financial Sector.
17. Equity Markets.
18. The Bond Market.
Exchange Rates and Global Capital Markets.
19. Exchange Rate Determination I - The Real Exchange Rate.
20. Exchange Rate Determination II - Nominal Exchange Rates and Asset Markets.
21. Currency Crises and Exchange Rate Systems.
Management Today, December 2001
"..an original and interesting macroeconomics text. It is a self-contained volume which any student and teacher of economics within the higher education sector will find extremely useful..."
Economic Outlook and Business Review, Issue 17, Vol 1, March 2002
"Macro textbooks tend to run in 2 flavours: 1). the highly technical and mathematical, where for most students the effort to read the book obscures the actual learning 2). the trivial and simplistic. This book by Miles and Scott manages to avoid either pitfall. Mathematics is kept to a minimum (there is no differential calculus in the main body of the text) and the focus is on logical analysis and presentation of data.
The book manages to be straightforward without being simplistic. Very few economics textbooks, in my experience, manage that trick."
Amazon.co.uk
"I always thought I would be bored to death by a book on macroeconomics. I was wrong. This is an interesting and suprisingly readable guide to macroeconomics. The many graphics are very clear and complement the text very nicely. I particularly liked the blue appendices highlighting some key relavent issue. For example "Why is Africa so poor?" was a clear account of a very timely issue. I wholeheartedly recommend this to anyone with even a passing interest in the subject.BUY IT"
Amazon.co.uk
"This book is quite simply excellent. Clear yet thorough explanations of all aspects of your typical first university module in Macroeconmics. A must read for anyone studying Economics or Finance."
Amazon.co.uk