Synopses & Reviews
Offering a uniquely modern presentation of macroeconomics, this brand-new text makes it easy for instructors to emphasize a solid microfoundations, real-business cycle approach. In the all-new MACROECONOMICS: A MODERN APPROACH, leading economist and proven author Robert J. Barro couples his extraordinary command of growth, equilibrium, and business cycles with a focus on microfoundations to create a groundbreaking new macroeconomics textbook steeped in real-world application. Accessibly written and extremely student friendly, the book is packed with current policy and data examples, reflecting the author's extensive research in the field. The book also includes captivating boxed features, challenging exercises, and innovative online resources like CengageNOW, which enables students to create personalized learning paths and equips instructors with tools to easily assign, grade, and record homework and quizzes. Covering growth theory more completely than any other text, MACROECONOMICS delivers a unified model of macroeconomics that serves well for economics majors and nonmajors alike.
Immediately engage today's reader with MACRO, a unique modern presentation of macroeconomics that makes it easy to emphasize a solid microfoundations and real-business cycle approach in a presentation unlike any other intermediate macroeconomics book. Student engineered and faculty approved, Robert Barro's MACRO demonstrates an extraordinary command of growth, equilibrium, and business cycle theory with a focus on microfoundations. Captivating features range from rocker Bono's perspective on debt relief to the hidden costs of multiple shifts and overtime hours. MACRO's distinctive, magazine-style pages were inspired by readers and refined by more than seventy teaching professionals. The brief paperback is packed with current policy and data examples that reflect the author's extensive research in the field, as well as a suite of tightly integrated learning aids, including access to the Cengage Global Economic Watch, which connects to thousands of journal and news articles and videos using a simple search engine.
About the Author
Robert J. Barro is the Paul M. Warburg Professor of Economics at Harvard University, a senior fellow of the Hoover Institution of Stanford University, and a research associate of the National Bureau of Economic Research. He has a Ph.D. in economics from Harvard University. Barro is co-editor of Harvard's Quarterly Journal of Economics and was recently President of the Western Economic Association and Vice President of the American Economic Association. He is honorary dean of the China EconomicsandManagement Academy, Central University of Beijing. He was a viewpoint columnist for Business Week from 1998 to 2006 and a contributing editor of The Wall Street Journal from 1991 to 1998. He has written extensively on macroeconomics and economic growth. Recent books include Macroeconomics: A Modern Approach from Thomson/Southwestern, Economic Growth (2nd edition, written with Xavier Sala-i-Martin), Nothing Is Sacred: Economic Ideas for the New Millennium, Determinants of Economic Growth, and Getting It Right: Markets and Choices in a Free Society, all from MIT Press.
Table of Contents
Part I. INTRODUCTION. 1. Thinking about Macroeconomics. 2. National-Income Accounting: Gross Domestic Product and the Price Level. Part II. ECONOMIC GROWTH. 3. Introduction to Economic Growth. 4. Working with the Solow Growth Model. 5. Conditional Convergence and Long-Run Economic Growth. Part III. ECONOMIC FLUCTUATIONS. 6. Markets, Prices, Supply, and Demand. 7. Consumption, Saving, and Investment. 8. An Equilibrium Business-Cycle Model. 9. Capital Utilization and Unemployment. Part IV. MONEY AND PRICES. 10. The Demand for Money and the Price Level. 11. Inflation, Money Growth, and Interest Rates. Part V. THE GOVERNMENT SECTOR. 12. Government Expenditure. 13. Taxes. 14. The Public Debt. Part VI. MONEY AND BUSINESS CYCLES. 15. Money and Business Cycles I: the Price-Misperceptions Model. 16. Money and Business Cycles II: Sticky Prices and Nominal Wage Rates. Part VII. INTERNATIONAL MACROECONOMICS. 17. World Markets in Goods and Credit. 18. Exchange Rates. Bibliography. Glossary. Index.