Modern Macroeconomics 1st edition by Sanjay Chugh 0262029375 9780262029377

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Product details:

• ISBN 10:0262029375

• ISBN 13:9780262029377

• Author:Sanjay Chugh

A textbook that approaches modern macroeconomics through its microeconomic foundations, with an emphasis on financial market connections and policy applications.

The modern study and analysis of macroeconomics begins by considering how microeconomic units—consumers and firms—make decisions, and then investigates how these choices interact to yield economy-wide outcomes. This innovative textbook takes this “modern” approach, teaching macroeconomics through its microeconomic foundations. It does so by adopting the representative agent paradigm. By modeling the representative consumer and the representative firm, students will learn to describe macroeconomic outcomes and consider the effects of macroeconomic policies. Unique in its coverage of monopolistic competition, financial markets, and the interaction of fiscal and monetary policy, Modern Macroeconomics is suitable for use in intermediate undergraduate, advanced undergraduate, and graduate level courses.

The book first introduces the building blocks of macroeconomics, the heart of which is the representative consumer. It goes on to offer a brief history of macroeconomic thought, including supply-side economics, the Phillips curve, and the New Keynesian framework. It then covers two policy applications, monetary policy and the interaction of monetary and fiscal policy; optimal policy analysis for both the flexible price and the rigid price case; long-run steady states, treating the Solow growth framework and the neoclassical growth model; a search-and-matching framework for the analysis of unemployment; and the application of the tools of modern macroeconomics to “open economy,” or international macroeconomics. End-of-chapter problem sets enable students to apply the concepts they have learned. A separate Solutions Manual will be available for students to purchase. Teaching materials, including complete solutions and slides, will be available to qualified instructors.

Modern Macroeconomics 1st Table of contents:

I CONSUMER ANALYSIS, FIRM ANALYSIS, FISCAL POLICY, INTRODUCTION
TO FINANCE THEORY

1  Mathematical Refresher 
2 Static Consumption – Labor Framework 
3 Dynamic Consumption – Savings Framework 
4 Infl ation and Interest Rates in the Consumption – Savings Framework 
5 Dynamic Consumption – Labor Framework 
6 Firms 
7 Intertemporal Fiscal Policy 
8 Infi nite-Period Framework and Introduction to Asset Pricing 
9 Shocks 
Interlude: General Equilibrium Macroeconomics 

II A BRIEF (AND PARTIAL) HISTORY OF MACROECONOMIC THOUGHT 
10 History of Macroeconomics 
11 Supply-Side Economics 
12 The Phillips Curve 
13 New Keynesian Economics 
14 Real Business Cycle Theory 

III POLICY ANALYSIS 
15 Monetary Policy in the Intertemporal Framework 
16 Monetary – Fiscal Interactions 

 IV OPTIMAL POLICY ANALYSIS I: THE FLEXIBLE-PRICE CASE 
17 Optimal Monetary Policy 
18 Economic Effi ciency 
19 Optimal Fiscal Policy 
20 Optimal Fiscal and Monetary Policy 
21 Financial Accelerator and Role of Regulatory Policy 

 V OPTIMAL POLICY ANALYSIS II: THE RIGID PRICE CASE 
22 Monopolistic Competition: The Dixit – Stiglitz Framework 
23 A New Keynesian View of Sticky Prices: The Rotemberg Framework 
24 Optimal Monetary Policy with Sticky Prices 

 VI LONG-RUN GROWTH ANALYSIS 
25 Solow Growth Framework 
26 Neoclassical Growth 

VII UNEMPLOYMENT
27 Search, Unemployment, and Vacancies 
28 Matching Equilibrium 
Contents vii
29 Long-Lasting Jobs 

VIII INTERNATIONAL MACROECONOMICS 
30 Open-Economy Trade 
31 Fiscal Theory of Exchange Rates 

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