Instruction Manual for Macroeconomics Global Edition 6th edition by Stephen Williamson – Ebook PDF Instant Download/Delivery: 1292215761, 9781292215761
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ISBN 10: 1292215761
ISBN 13: 9781292215761
Author: Stephen Williamson
The full text downloaded to your computer With eBooks you can: search for key concepts, words and phrases make highlights and notes as you study share your notes with friends eBooks are downloaded to your computer and accessible either offline through the Bookshelf (available as a free download), available online and also via the iPad and Android apps. Upon purchase, you’ll gain instant access to this eBook. Time limit The eBooks products do not have an expiry date. You will continue to access your digital ebook products whilst you have your Bookshelf installed. Macroeconomics uses a thoroughly modern approach by building macroeconomic models from microeconomic principles. As such, it is consistent with the way that macroeconomic research is conducted today. This approach allows for deeper insights into economic growth processes and business cycles–the key topics in macroeconomics. An emphasis on microeconomic foundations better integrates the study of macroeconomics with approaches learned in microeconomics and field courses in economics. By following an approach to macroeconomics that is consistent with current macroeconomic research, students become better prepared for advanced study in economics. The 6th Edition captures the latest developments in macroeconomic thinking, applied to recent economic events and developments in macroeconomic policy. With the financial crisis receding, new challenges that macroeconomists and policymakers currently need to address are covered in the text.
Macroeconomics Global Edition 6th Table of contents:
PART I Introduction and Measurement Issues
Chapter 1 Introduction
What Is Macroeconomics?
Gross Domestic Product, Economic Growth, and Business Cycles
Macroeconomic Models
Microeconomic Principles
Disagreement in Macroeconomics
What Do We Learn from Macroeconomic Analysis?
Understanding Recent and Current Macroeconomic Events
Chapter Summary
Key Terms
Questions for Review
Problems
Working with the Data
Chapter 2 Measurement
Measuring GDP: The National Income and Product Accounts
The Components of Aggregate Expenditure
Nominal and Real GDP and Price Indices
Problems with Measuring Real GDP and the Price Level
Macroeconomics in Action: Comparing Real GDP Across Countries and the Penn Effect
Macroeconomics in Action: House Prices and GDP Measurement
Savings, Wealth, and Capital
Labor Market Measurement
Macroeconomics in Action: Alternative Measures of the Unemployment Rate
Chapter Summary
Key Terms
Questions for Review
Problems
Working with the Data
Chapter 3 Business Cycle Measurement
Regularities in GDP Fluctuations
Comovement
Macroeconomics in Action: Economic Forecasting and the Financial Crisis
The Components of GDP
The Price Level and Inflation
Labor Market Variables
Macroeconomics in Action: Jobless Recoveries
Seasonal Adjustment
Macroeconomics in Action: The Great Moderation and the 2008–2009 Recession
Comovement Summary
Chapter Summary
Key Terms
Questions for Review
Problems
Working with the Data
PART II Basic Macroeconomic Models: A One-Period Model and Models of Search and Unemployment
Chapter 4 Consumer and Firm Behavior: The Work–Leisure Decision and Profit Maximization
The Representative Consumer
Macroeconomics in Action: How Elastic Is Labor Supply?
The Representative Firm
Macroeconomics in Action: Henry Ford and Total Factor Productivity
Theory Confronts the Data: Total Factor Productivity and the U.S. Aggregate Production Function
Chapter Summary
Key Terms
Questions for Review
Problems
Working with the Data
Chapter 5 A Closed-Economy One-Period Macroeconomic Model
Government
Competitive Equilibrium
Optimality
Working with the Model: The Effects of a Change in Government Purchases
Working with the Model: A Change in Total Factor Productivity
Theory Confronts the Data: Government Spending in World War II
Theory Confronts the Data: Total Factor Productivity and Real GDP
Macroeconomics in Action: Government Expenditures and the American Recovery and Reinvestment Act of
A Distorting Tax on Wage Income, Tax Rate Changes, and the Laffer Curve
A Model of Public Goods: How Large Should the Government Be?
Chapter Summary
Key Terms
Questions for Review
Problems
Working with the Data
Chapter 6 Search and Unemployment
Labor Market Facts
Macroeconomics in Action: Unemployment and Employment in the United States and Europe
A One-Sided Search Model of Unemployment
A Two-Sided Model of Search and Unemployment
Working with the Two-Sided Search Model
Macroeconomics in Action: Unemployment Insurance and Incentives
Theory Confronts the Data: Productivity, Unemployment, and Real GDP in the United States and Canada:
Macroeconomics in Action: The Natural Rate of Unemployment and the 2008–2009 Recession
Chapter Summary
Key Terms
Questions for Review
Problems
Working with the Data
PART III Economic Growth
Chapter 7 Economic Growth: Malthus and Solow
Economic Growth Facts
The Malthusian Model of Economic Growth
The Solow Model: Exogenous Growth
Theory Confronts the Data: The Solow Growth Model, Investment Rates, and Population Growth
Macroeconomics in Action: Resource Misallocation and Total Factor Productivity
Macroeconomics in Action: Recent Trends in Economic Growth in the United States
Growth Accounting
Macroeconomics in Action: Development Accounting
Chapter Summary
Key Terms
Questions for Review
Problems
Working with the Data
Chapter 8 Income Disparity Among Countries and Endogenous Growth
Convergence
Theory Confronts the Data: Is Income Per Worker Converging in the World?
Macroeconomics in Action: Measuring Economic Welfare: Per Capita Income, Income Distribution, Leisur
Endogenous Growth: A Model of Human Capital Accumulation
Macroeconomics in Action: Education and Growth
Chapter Summary
Key Terms
Questions For Review
Problems
Working with the Data
PART IV Savings, Investment, and Government Deficits
Chapter 9 A Two-Period Model: The Consumption–Savings Decision and Credit Markets
A Two-Period Model of the Economy
Theory Confronts the Data: Consumption Smoothing and the Stock Market
The Ricardian Equivalence Theorem
Macroeconomics in Action: Default on Government Debt
Chapter Summary
Key Terms
Questions for Review
Problems
Working with the Data
Chapter 10 Credit Market Imperfections: Credit Frictions, Financial Crises, and Social Security
Credit Market Imperfections and Consumption
Credit Market Imperfections, Asymmetric Information, and the Financial Crisis
Theory Confronts the Data: Asymmetric Information and Interest Rate Spreads
Credit Market Imperfections, Limited Commitment, and the Financial Crisis
Social Security Programs
Theory Confronts the Data: The Housing Market, Collateral, and Consumption
Macroeconomics in Action: Social Security and Incentives
Chapter Summary
Key Terms
Questions for Review
Problems
Working with the Data
Chapter 11 A Real Intertemporal Model with Investment
The Representative Consumer
The Representative Firm
Theory Confronts the Data: Investment and the Interest Rate Spread
Government
Competitive Equilibrium
The Equilibrium Effects of a Temporary Increase in G: Stimulus, the Multiplier, and Crowding Out
The Equilibrium Effects of a Decrease in the Current Capital Stock K
Theory Confronts the Data: Government Expenditure Multipliers in the Recovery from the 2008–2009 R
The Equilibrium Effects of an Increase in Current Total Factor Productivity z
The Equilibrium Effects of an Increase in Future Total Factor Productivity, News About the Future an
Theory Confronts the Data: News, the Stock Market, and Investment Expenditures
Credit Market Frictions and the Financial Crisis
Sectoral Shocks and Labor Market Mismatch
Theory Confronts the Data: The Behavior of Real GDP, Employment, and Labor Productivity in the 1981
Chapter Summary
Key Terms
Questions for Review
Problems
Working with the Data
PART V Money and Business Cycles
Chapter 12 Money, Banking, Prices, and Monetary Policy
What Is Money?
A Monetary Intertemporal Model
A Level Increase in the Money Supply and Monetary Neutrality
Shifts in Money Demand
Theory Confronts the Data: Instability in the Money Demand Function
Conventional Monetary Policy, the Liquidity Trap, and Unconventional Monetary Policy
Macroeconomics in Action: Quantitative Easing in the United States
Chapter Summary
Key Terms
Questions for Review
Problems
Working with the Data
Chapter 13 Business Cycle Models with Flexible Prices and Wages
The Real Business Cycle Model
A Keynesian Coordination Failure Model
Macroeconomics in Action: Business Cycle Models and the Great Depression
Macroeconomics in Action: Uncertainty and Business Cycles
Chapter Summary
Key Terms
Questions for Review
Problems
Working with the Data
Chapter 14 New Keynesian Economics: Sticky Prices
The New Keynesian Model
The Nonneutrality of Money in the New Keynesian Model
The Role of Government Policy in the New Keynesian Model
Macroeconomics in Action: The Timing of the Effects of Fiscal and Monetary Policy
The Liquidity Trap and Sticky Prices
Macroeconomics in Action: New Keynesian Models, the Zero Lower Bound, and Quantitative Easing
Criticisms of Keynesian Models
Macroeconomics in Action: How Sticky Are Nominal Prices?
Chapter Summary
Key Terms
Questions for Review
Problems
Working with the Data
Chapter 15 Inflation: Phillips Curves and Neo-Fisherism
Introduction
Inflation in a Basic New Keynesian Model
Theory Confronts the Data: The Phillips Curve
Macroeconomics in Action: Forward Guidance in the United States after 2008
Neo-Fisherism, and a New Keynesian Rational Expectations (NKRE) Model
Chapter Summary
Key Terms
Questions for Review
Problems
Working with the Data
PART VI International Macroeconomics
Chapter 16 International Trade in Goods and Assets
A Two-Period Small Open-Economy Model: The Current Account
Theory Confronts the Data: Is a Current Account Deficit a Bad Thing?
Theory Confronts the Data: Greece and Sovereign Default
Production, Investment, and the Current Account
Chapter Summary
Key Terms
Questions for Review
Problems
Working with the Data
Chapter 17 Money in the Open Economy
The Nominal Exchange Rate, the Real Exchange Rate, and Purchasing Power Parity
Flexible and Fixed Exchange Rates
Theory Confronts the Data: The PPP Relationship for the United States and Canada
A Monetary Small Open-Economy Model with a Flexible Exchange Rate
A Monetary Small Open Economy with a Fixed Exchange Rate
Macroeconomics in Action: Sovereign Debt and the EMU
Capital Controls
Macroeconomics in Action: Do Capital Controls Work in Practice?
A New Keynesian Sticky Price Open-Economy Model
Chapter Summary
Key Terms
Questions for Review
Problems
Working with the Data
PART VII Money, Banking, and Inflation
Chapter 18 Money, Inflation, and Banking: A Deeper Look
Alternative Forms of Money
Macroeconomics in Action: Commodity Money and Commodity-Backed Paper Money, Yap Stones, and Playing
Money and the Absence of Double Coincidence of Wants: The Role of Commodity Money and Fiat Money
Long-Run Inflation in the Monetary Intertemporal Model
Macroeconomics in Action: Should the Fed Reduce the Inflation Rate to Zero or Less?
Financial Intermediation and Banking
Macroeconomics in Action: Banks, Nonbank Financial Intermediaries, Too-Big-to-Fail, and Moral Hazard
Macroeconomics in Action: Bank Failures and Banking Panics in the United States and Canada
Chapter Summary
Key Terms
Questions for Review
Problems
Working with the Data
Appendix Mathematical Appendix
Chapter 4: Consumer and Firm Behavior
Chapter 5 A Closed-Economy One-Period Macroeconomic Model
Chapter 6: Search and Unemployment
Chapters 7 and 8: Economic Growth
Chapter 9 A Two-Period Model
Chapter 11: A Real Intertemporal Model with Investment
Chapter 12: Money, Banking, Prices, and Monetary Policy
Chapter 18: Money, Inflation, and Banking: A Deeper Look
Index
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