Macroeconomics

Abel, Bernanke, and Croushore present macroeconomic theory in a way that prepares students to analyze real macroeconomic data used by policy makers and researchers. With a balanced treatment of both classical and Keynesian economics, the comprehensive coverage makes it easy for instructors to align chapters to fit their own syllabi. Students in this course often struggle to see how the macroeconomic models compare to one another, and fit into the big picture. This text uses a unified approach based on a single economics model that provides students with a clear understanding of macroeconomics and its classical and Keynesian assumptions. The main objective of the eighth edition is to keep the book fresh and up-to-date, especially in light of the recent crises in the United States and Europe and many new tools used by the Federal Reserve in response to the crisis. To reflect recent events and developments in the field, revisions have been made throughout the text, and additional new applications, boxes, and problems are included.I. INTRODUCTION 1. Introduction to Macroeconomics 2. The Measurement and Structure of the National Economy II. LONG-RUN ECONOMIC PERFORMANCE 3. Productivity, Output, and Employment 4. Consumption, Saving, and Investment 5. Saving and Investment in the Open Economy 6. Long-Run Economic Growth 7. The Asset Market, Money, and Prices III. BUSINESS CYCLES AND MACROECONOMIC POLICY 8. Business Cycles 9. The IS-LM/AD-AS Model: A General Framework for Macroeconomic Analysis 10. Classical Business Cycle Analysis: Market-Clearing Macroeconomics 11. Keynesianism: The Macroeconomics of Wage and Price Rigidity IV. MACROECONOMIC POLICY: ITS ENVIRONMENT AND INSTITUTIONS 12. Unemployment and Inflation 13. Exchange Rates, Business Cycles, and Macroeconomic Policy in the Open Economy 14. Monetary Policy and the Federal Reserve System 15. Government Spending and Its Financing Appendix A: Some Useful Analytical Tools Glossary Name Index Subject Index