Contents
Macroeconomics is arranged in three key sections: the long run, the short run, and applications. The long-run section includes a modern presentation of economic growth. The short-run section emphasizes central banks that set interest rates and developes an intuitive Aggregate Supply/Aggregate Demand framework with inflation rather than the price level on the vertical axis. The applications section explores key policy topics such as the continuing rapid rise in health expenditures and globalization.
- Part 1: Preliminaries
- 1. Introduction to Macroeconomics
- 2. Measuring the Macroeconomy
- Part 2: The Long Run
- 3. An Overview of Long-Run Economic Growth
- 4. A Model of Production
- 5. The Solow Growth Model
- 6. Growth and Ideas
- 7. The Labor Market, Wages, and Unemployment
- 8. Inflation
- Part 3: The Short Run
- 9. An Overview of the Short-Run Model
- 10. The IS Curve
- 11. Monetary Policy and the Phillips Curve
- 12. Stabilization Policy and the AS/AD Framework
- Part 4: Applications
- 13. The Government and the Macroeconomy
- 14. International Trade
- 15. Exchange Rates and International Finance
- 16. Parting Thoughts