Prices, Interest Rates and Aggregate Output: An Overview of Macroeconomics
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Prices, Interest Rates and Aggregate Output: An Overview of Macroeconomics is intended to support an introductory undergraduate course in macroeconomics. Written in a rigorous yet accessible style, it is aimed not only at students whose major subject is economics but also at others who want to acquire some theoretical background to current economic issues.
Despite being an introduction to the subject, the approach is not superficial and complex issues are not ignored. Particular attention is devoted to the international constraints on the domestic economy. As usual in economic matters, the conclusions are frequently tentative. Economic theory does not always provide answers. It does, however, encourage the reader to ask useful questions - and that is one of the aims of this book.
No previous study of macroeconomics is assumed, although successful completion of an introductory course in microeconomics would be an advantage. Advanced mathematical skills are not required.
Table of Contents
Chapter 1: The nature of macroeconomic issues
Chapter 2: Determinants and significance of aggregate demand
Chapter 3: The IS line
Chapter 4: The money supply and its determinants
Chapter 5: The LM line
Chapter 6: The interaction of the goods market and the money market
Chapter 7: Digression on pre-Keynesian economic theory
Chapter 8: The role of the price level in aggregate demand and supply
Chapter 9: Inflation
Chapter 10: Unemployment
Chapter 11: Exchange rates and international payments
Chapter 12: The BP line
Chapter 13: The complete model
Chapter 14: Conclusions
Jerry Mushin is a Senior Lecturer at Victoria University of Wellington, New Zealand. His academic work, which is principally on monetary policy and exchange rates, has been published in Australia, India, Japan, the Netherlands, New Zealand, Qatar, Singapore, Switzerland, the UK and the US. A Chinese translation of one of his books has been published in China. He has also contributed to the Encyclopedia of Economic and Business History, of which he is a Consulting Editor.