Macroeconomics Theories and Policies 10th Edition by Richard Froyen – Ebook PDF Instant Download/Delivery: 0133468403 , 9780133468403
Full download Macroeconomics Theories and Policies 10th edition after payment
Product details:
ISBN 10: 0133468403
ISBN 13: 9780133468403
Author: Richard Froyen
This is the eBook of the printed book and may not include any media, website access codes, or print supplements that may come packaged with the bound book. Macroeconomics traces the history, evolution, and challenges of Keynesian economics, presenting a comprehensive, detailed, and unbiased view of modern macroeconomic theory. This book narrates the evolution of economic theory, presenting the most recent and modern developments, without glossing over the fundamental disagreements among macroeconomists on both theory and policy.
Macroeconomics Theories and Policies 10th Table of contents:
Part One Introduction and Measurement
Chapter 1 Introduction
1.1 What is Macroeconomics?
1.2 Post–World War II U.S. Economic Performance
Output
Unemployment
Inflation
Inflation and Unemployment
The U.S. Federal Budget and Trade Deficits
1.3 Central Questions in Macroeconomics
Instability of Output
Movements in the Inflation Rate
The Output–Inflation Relationship
Growth Slowdown and Turnaround?
Implications of Deficits and Surpluses
1.4 Conclusion
Key Terms
Review Questions and Problems
Chapter 2 Measurement of Macroeconomic Variables
2.1 The National Income Accounts
2.2 Gross Domestic Product
Currently Produced
Final Goods and Services
Evaluated at Market Prices
Nonmarket Productive Activities Are Left Out
The Underground Economy Is Left Out
GDP Is Not a Welfare Measure
GDP and Happiness
2.3 National Income
2.4 Personal and Disposable Personal Income
2.5 Some National Income Accounting Identities
2.6 Measuring Price Changes: Real versus Nominal GDP
Real GDP in Prices from a Base Year
Chain-Weighted Real GDP
2.7 The Consumer Price Index and the Producer Price Index
2.8 Measures of Cyclical Variation in Output
2.9 Conclusion
Key Terms
Review Questions and Problems
Part Two Classical Economics and the Keynesian Revolution
Chapter 3 Classical Macroeconomics (I): Output and Employment
3.1 The Starting Point
3.2 The Classical Revolution
3.3 Production
3.4 Employment
Labor Demand
Labor Supply
3.5 Equilibrium Output and Employment
The Determinants of Output and Employment
Factors That Do Not Affect Output
3.6 Conclusion
Key Terms
Review Questions and Problems
Chapter 4 Classical Macroeconomics (II): Money, Prices, and Interest
4.1 The Quantity Theory of Money
The Equation of Exchange
The Cambridge Approach to the Quantity Theory
The Classical Aggregate Demand Curve
4.2 The Classical Theory of the Interest Rate
4.3 Policy Implications of the Classical Equilibrium Model
Fiscal Policy
Government Spending
Tax Policy
Demand-Side Effects.
Supply-Side Effects.
Monetary Policy
4.4 Conclusion
Key Terms
Review Questions and Problems
Chapter 5 The Keynesian System (I): The Role of Aggregate Demand
5.1 The Problem of Unemployment
5.2 The Simple Keynesian Model: Conditions for Equilibrium Output
5.3 The Components of Aggregate Demand
Consumption
Investment
Government Spending and Taxes
5.4 Determining Equilibrium Income
5.5 Changes in Equilibrium Income
5.6 Fiscal Stabilization Policy
5.7 Exports and Imports in the Simple Keynesian Model
5.8 Conclusion
Key Terms
Review Questions and Problems
Chapter 6 The Keynesian System (II): Money, Interest, and Income
6.1 Money in the Keynesian System
Interest Rates and Aggregate Demand
The Keynesian Theory of the Interest Rate
The Keynesian Theory of Money Demand
Transactions Demand
Precautionary Demand
Speculative Demand
The Total Demand for Money
The Effects of an Increase in the Money Supply
Going Forward
6.2 The is–LM Model
Money Market Equilibrium: The LM Schedule
Construction of the LM Schedule
Factors That Determine the Slope of the LM Schedule
Factors That Shift the LM Schedule
Changes in the Money Supply.
Shifts in the Money Demand Function.
The LM Schedule: Summary
Product Market Equilibrium: The IS Schedule
Construction of the IS Schedule
Factors That Determine the Slope of the IS Schedule
Factors That Shift the IS Schedule
Changes in Government Spending.
Changes in Taxes.
Autonomous Changes in Investment.
The IS Schedule: Summary
The IS and LM Schedules Combined
6.3 Conclusion
Key Terms
Review Questions and Problems
A.1 The LM Schedule
The Slope of the LM Schedule
Factors That Shift the LM Schedule
A.2 The IS Schedule
The Slope of the IS Schedule
Factors That Shift the IS Schedule
A.3 Equilibrium in the IS–LM Model
Review Problems
Chapter 7 The Keynesian System (III): Policy Effects in the IS–LM Model
7.1 Factors That Affect Equilibrium Income and the Interest Rate
Monetary Influences: Shifts in the LM Schedule
Real Influences: Shifts in the IS Schedule
7.2 The Relative Effectiveness of Monetary and Fiscal Policy
Policy Effectiveness and the Slope of the IS Schedule
Monetary Policy Effectiveness and the Slope of the IS Schedule
Fiscal Policy Effectiveness and the Slope of the IS Schedule
Policy Effectiveness and the Slope of the LM Schedule
Fiscal Policy Effectiveness and the Slope of the LM Schedule
Monetary Policy Effectiveness and the Slope of the LM Schedule
7.3 Conclusion
Review Questions and Problems
A.1 The Effects of Monetary and Fiscal Policy on Income
Fiscal Policy
Monetary Policy
A.2 Policy Effectiveness and the Slopes of the IS and LM Curves
The IS Curve and Policy Effectiveness
The LM Curve and Policy Effectiveness
Review Problems
Chapter 8 The Keynesian System (IV): Aggregate Supply and Demand
8.1 The Keynesian Aggregate Demand Schedule
8.2 The Keynesian Aggregate Demand Schedule Combined with the Classical Theory of Aggregate Supply
8.3 A Contractual View of the Labor Market
Sources of Wage Rigidity
A Flexible Price–Fixed Money Wage Model
8.4 Labor Supply and Variability in the Money Wage
Classical and Keynesian Theories of Labor Supply
The Keynesian Aggregate Supply Schedule with a Variable Money Wage
Policy Effects in the Variable-Wage Keynesian Model
8.5 The Effects of Shifts in the Aggregate Supply Schedule
Factors That Shift the Aggregate Supply Schedule
More Recent Supply Shocks
Conclusion: Keynes versus the Classics 8.6
Keynesian versus Classical Theories of Aggregate Demand
Keynesian versus Classical Theories of Aggregate Supply
Keynesian versus Classical Policy Conclusions
Review Questions and Problems
Part Three Macroeconomic Theory After Keynes
Chapter 9 The Monetarist Counterrevolution
9.1 Monetarist Propositions
9.2 The Reformulation of the Quantity Theory of Money
Money and the Early Keynesians
Friedman’s Restatement of the Quantity Theory
Friedman’s Monetarist Position
9.3 Fiscal and Monetary Policy
Fiscal Policy
Monetary Policy
The Monetarist Position
Contrast with the Keynesians
9.4 Unstable Velocity and the Declining Policy Influence of Monetarism
Recent Instability in the Money–Income Relationship
Monetarist Reaction
9.5 Conclusion
Review Questions and Problems
Chapter 10 Output, Inflation, and Unemployment: Alternative Views
10.1 The Natural Rate Theory
10.2 Monetary Policy, Output, and Inflation: Friedman’s Monetarist View
Monetary Policy in the Short Run
Monetary Policy in the Long Run
10.3 A Keynesian View of the Output–Inflation Trade-Off
The Phillips Curve: A Keynesian Interpretation
The Short-Run Phillips Curve
The Long-Run Phillips Curve
Stabilization Policies for Output and Employment: The Keynesian View
10.4 Evolution of the Natural Rate Concept
Determinants of the Natural Rate of Unemployment
Time-Varying Natural Rates of Unemployment
Explaining Changing Natural Rates of Unemployment
Recent Trends
10.5 Conclusion
Key Terms
Review Questions and Problems
Chapter 11 New Classical Economics
11.1 The New Classical Position
A Review of the Keynesian Position
The Rational Expectations Concept and Its Implications
New Classical Policy Conclusions
11.2 A Broader View of the New Classical Position
11.3 The Keynesian Countercritique
The Question of Persistence
The Extreme Informational Assumptions of Rational Expectations
Auction Market versus Contractual Views of the Labor Market
11.4 Conclusion
Key Terms
Review Questions and Problems
Chapter 12 Real Business Cycles and New Keynesian Economics
12.1 Real Business Cycle Models
Central Features of Real Business Cycle Models
A Simple Real Business Cycle Model
Effects of a Positive Technology Shock
Macroeconomic Policy in a Real Business Cycle Model
Monetary Policy
Fiscal Policy
Questions about Real Business Cycle Models
The Importance of Technology Shocks
Voluntary Employment Changes
Concluding Comment
12.2 New Keynesian Economics
Sticky Price (Menu Cost) Models
Efficiency Wage Models
Insider–Outsider Models and Hysteresis
12.3 Conclusion
Key Terms
Review Questions and Problems
Chapter 13 Macroeconomic Models: A Summary
13.1 Theoretical Issues
13.2 Policy Issues
13.3 Consensus as Well as Controversy
13.4 Macroeconomics Going Forward
Review Questions and Problems
Part Four Open Economy Macroeconomics
Chapter 14 Exchange Rates and the International Monetary System
14.1 The U.S. Balance of Payments Accounts
The Current Account
The Financial Account
Statistical Discrepancy
Official Reserve Transactions
14.2 Exchange Rates and the Market for Foreign Exchange
Demand and Supply in the Foreign Exchange Market
Exchange Rate Determination: Flexible Exchange Rates
Exchange Rate Determination: Fixed Exchange Rates
Pegging the Exchange Rate
Implications of Intervention
14.3 The Current Exchange Rate System
Exchange Rate Arrangements
How Much Managing? How Much Floating?
The Breakdown of the Bretton Woods System
14.4 Advantages of Alternative Exchange Rate Regimes
Advantages of Exchange Rate Flexibility
Policy Independence and Exchange Rate Flexibility
The Trade Balance and the Level of Economic Activity.
Capital Flows and the Level of Economic Activity.
Exchange Rate Flexibility and Insulation from Foreign Shocks
Arguments for Fixed Exchange Rates
Exchange Rate Risk and Trade
Exchange Rate Swings and Adjustment Costs
Speculation and Exchange Rate Instability
14.5 Exchange Rates in the Floating Rate Period
The Dollar in Decline, 1976–80
The Dollar in the 1980s
The Dollar in Recent Years
14.6 Global Trade Imbalances
Implication of Some Identities
Causes and Effects of Global Trade Imbalances
14.7 Conclusion
Key Terms
Review Questions and Problems
Chapter 15 Monetary and Fiscal Policy in the Open Economy
15.1 The Mundell–Fleming Model
15.2 Imperfect Capital Mobility
Policy Under Fixed Exchange Rates
Monetary Policy
Fiscal Policy
Policy Under Flexible Exchange Rates
Monetary Policy
Fiscal Policy
15.3 Perfect Capital Mobility
Policy Effects under Fixed Exchange Rates
Monetary Policy
Fiscal Policy
Policy Effects Under Flexible Exchange Rates
Monetary Policy
Fiscal Policy
15.4 Conclusion
Review Questions and Problems
Part Five Economic Policy
Chapter 16 Money, the Banking System, and Interest Rates
16.1 The Definition of Money
The Functions of Money
Means of Exchange
Store of Value
Unit of Account
Components of the Money Supply
16.2 Interest Rates and Financial Markets
16.3 The Federal Reserve System
The Structure of the Central Bank
Federal Reserve Influence on Money and Credit
The Tools of Federal Reserve Control
Open-Market Operations
The Discount Rate
The Required Reserve Ratio
New Tools for Monetary Policy
16.4 Bank Reserves, Deposits, and Bank Credit
A Model of Deposit Creation
Deposit Creation: More General Cases
Open-Market Operations and the Federal Funds Rate
Deposit and Credit Creation (or Lack Thereof) in the Financial Crisis
16.5 Conclusion
Key Terms
Review Questions and Problems
Chapter 17 Optimal Monetary Policy
17.1 The Monetary Policymaking Process
17.2 Competing Strategies: Targeting Monetary Aggregates or Interest Rates
Targeting Monetary Aggregates
Targeting Interest Rate
17.3 Money versus Interest Rate Targets in the Presence of Shocks
Implications of Targeting a Monetary Aggregate
The Ideal Case for Targeting a Monetary Aggregate
Less-Than-Ideal Cases for Targeting a Monetary Aggregate
Implications of Targeting the Interest Rate
Uncertainty about the IS Schedule
Uncertainty about Money Demand
17.4 The Relative Merits of the Two Strategies
The Sources of Uncertainty and the Choice of a Monetary Policy Strategy
Other Considerations: Credibility and Managing Expectations
17.5 The Evolution of Federal Reserve Strategy
1970–79: Targeting the Federal Funds Rate
1979–82: Targeting Monetary Aggregates
1982–2008: A Gradual Return to Federal Funds Rate Targeting
1994–2012: A Move toward Greater Transparency
2008–2012: Confronting the Zero-Bound Problem
17.6 Changes in Central Bank Institutions: Recent International Experience
The Time Inconsistency Problem
Other Arguments for Inflation Targeting
17.7 Conclusion
Key Terms
Review Questions and Problems
Chapter 18 Fiscal Policy
18.1 The Goals of Macroeconomic Policy
18.2 The Goals of Macroeconomic Policymakers
The Public-Choice View
The Partisan Theory
Public-Choice Theory: More Recent Developments
18.3 The Federal Budget
18.4 The Economy and the Federal Budget: The Concept of Automatic Fiscal Stabilizers
18.5 Fiscal Policy Controversies: From the Reagan Years to the Present
The Pros and Cons of Fiscal Policy Rules
What About the Deficit?
Cyclical versus Structural Deficits
The Keynesian View of Deficits in the 1980s
The Federal Budget in the Late 1990s and into the Twenty-First Century
The 2007–09 Recession and Resulting Budget Implications
18.6 Conclusion
Key Terms
Review Questions and Problems
Part Six Economic Growth
Chapter 19 Policies for Intermediate-Run Growth
19.1 U.S. Economic Growth, 1960–2011
19.2 The Supply-Side Position
Intermediate-Run Output Growth Is Supply Determined
Saving and Investment Depend on After-Tax Rates of Return
Labor Supply Is Responsive to Changes in the After-Tax Real Wage
Government Regulation Contributed to the Slowdown in the U.S. Economic Growth Rate
19.3 The Keynesian Critique of Supply-Side Economics
The Supply-Determined Nature of Intermediate-Run Growth
Saving and Investment and After-Tax Rates of Return
The Effect of Income Tax Cuts on Labor Supply
Regulation as a Source of Inflation and Slow Growth
19.4 Growth Policies From Ronald Reagan to Barack Obama
Economic Redirection in the Reagan Years
Personal Income Tax Reductions
Reductions in Business Taxes
Reductions in Nondefense Government Spending
Reductions in Government Regulation
Initiatives in the First Bush Administration
Growth Policies in the Clinton Administrations
Tax Cuts During the Administration of George W. Bush
President Obama, the Financial Crisis, and Recession
19.5 Conclusion
Review Questions and Problems
Chapter 20 Long-Run Economic Growth: Origins of the Wealth of Nations
20.1 The Neoclassical Growth Model
Growth and the Aggregate Production Function
Sources of Growth in the Neoclassical Model
Education Per Worker
Capital Formation
Technological Change
Economies of Scale
Other Factors
20.2 Recent Developments in the Theory of Economic Growth
Endogenous Growth Models
Implications of Endogenous Technological Change
Policy Implications of Endogenous Growth
20.3 Intercountry Income Differences
20.4 Conclusion
Key Terms
Review Questions and Problems
Glossary
Index
People also search for Macroeconomics Theories and Policies 10th :
borrow macroeconomics theories and policies
froyen rt macroeconomics theories and policies
macroeconomics theories and policies 10th edition pdf
macroeconomics theories and policies pdf
macroeconomics theories and policies by richard t froyen
Tags: Richard Froyen, Macroeconomics Theories, Policies