Macroeconomics

For undergraduate Macroeconomics courses. A modern approach to macroeconomics. Williamson's Macroeconomics uses a thoroughly modern approach by showing students how to build macroeconomic models from microeconomic principles. This approach helps to make the text consistent with the way macroeconomic research is conducted today.I. INTRODUCTION AND MEASUREMENT ISSUES 1. Introduction 2. Measurement 3. Business Cycle Measurement II. A ONE-PERIOD MODEL OF THE MACROECONOMY 4. Consumer and Firm Behavior: The Work-Leisure Decision and Profit Maximization 5. A Closed-Economy One-Period Macroeconomic Model 6. Search and Unemployment Labor Market Facts PART III. ECONOMIC GROWTH 7. Economic Growth: Malthus and Solow 8. Income Disparity Among Countries and Endogenous Growth Convergence PART IV. SAVINGS, INVESTMENT, AND GOVERNMENT DEFICITS 9. A Two-Period Model: The Consumption-Savings Decision and Credit Markets 10. Credit Market Imperfections: Credit Frictions, Financial Crises, and Social Security 11. A Real Intertemporal Model with Investment PART V. MONEY AND BUSINESS CYCLES 12. Money, Banking, Prices, and Monetary Policy 13. Business Cycle Models with Flexible Prices and Wages 14. New Keynesian Economics: Sticky Prices PART VI. INTERNATIONAL MACROECONOMICS 15. International Trade in Goods and Assets 16. Money in the Open Economy PART VII. MONEY, BANKING, AND INFLATION 17. Money, Inflation, and Banking 18. Inflation, the Phillips Curve, and Central Bank Commitment Appendix Mathematical Appendix Index