Macroeconomics

by Nils Gottfries

Overview

Written in a clear and direct style, this is the ideal core textbook for students who seek a thorough understanding of the applications of macroeconomic theory. The book combines theoretical rigour with numerous illustrative examples and engaging policy discussions. This highly-respected author has developed an innovative new approach to teaching macroeconomics, based on combining microeconomic foundations with Keynesian-style short-run policy analysis to build one unified model. Gottfries' critically-acclaimed and highly relevant approach reinforces learning and makes it easier for students to comprehend, providing the ideal preparation either for work or for further postgraduate study.

The book is perfect for the higher-level intermediate macroeconomics courses, as well as offering a potential bridge between undergraduate level study and the step up to postgraduate and research level theory and content.

Key features of this book include:
- A real-world approach that takes into account the many market imperfections and rigidities that characterize economies in action.
- An international approach using examples from a variety of world economies, and the ongoing comparison of US, UK and EU market behaviours.
- Theory supported and illustrated by the presentation and analysis of real-world data.
- Detailed coverage of both long and short run approaches, and the closed and open economies.

Accompanying online resources for this title can be found at bloomsburyonlineresources.com/macroeconomics. These resources are designed to support teaching and learning when using this textbook and are available at no extra cost.

Product Details

ISBN-13:	9780230275973
Publisher:	Bloomsbury Academic
Publication date:	03/22/2013
Edition description:	2013
Pages:	576
Product dimensions:	7.40(w) x 9.60(h) x 1.10(d)

About the Author

Nils Gottfries is a Professor of Economics at Uppsala University, Sweden and former editor of The Scandinavian Jourbanal of Economics. He has published extensively in jourbanals including the QJE, JPE, EJ, EER. Most of his research has been concerned with the microeconomic foundations of macroeconomics, particularly the theory of the supply side: prices, wages, and unemployment. He was a member of the Swedish commission on the EMU. He has been teaching macroeconomics regularly at the intermediate and graduate levels.
Nils Gottfries is a Professor of Economics at Uppsala University, Sweden and former editor of The Scandinavian Jourbanal of Economics. He has published extensively in jourbanals including the QJE, JPE, EJ, EER. Most of his research has been concerned with the microeconomic foundations of macroeconomics, particularly the theory of the supply side: prices, wages, and unemployment. He was a member of the Swedish commission on the EMU. He has been teaching macroeconomics regularly at the intermediate and graduate levels.

Table of Contents

Introduction
PART I: THE LONG RUN
Production, Prices and the Distribution of Income
Interest Rates and Investment
Consumption and the Natural Rate of Interest
Capital Accumulation and Growth
Wage Setting and Unemployment
Money and Inflation in the Long Run
PART II: THE SHORT RUN
The Interest Rate and Production in the Short Run
Economic Activity and Inflation in the Short Run
PART III: ECONOMIC POLICY
Monetary Policy
Fiscal Policy
PART IV: THE OPEN ECONOMY
Exports, Imports, and International Financial Markets
The Open Economy in the Long Run
The Open Economy in the Short Run
Exchange Rate Systems and Monetary Union
PART V: BUSINESS CYCLES, POLICYMAKING, FINANCIAL MARKETS
Business Cycles
Institutions and Economic Policy
Financial Markets.

What People are Saying About This

From the Publisher

Nils Gottfries's thoughtful, consistent and lucid exposition breathes fresh air into a macroeconomics textbook. It balances descriptive realism with conceptual coherence judiciously, and its application of principles to the experiences of many countries over many decades is very welcome. – John Driffill, Birkbeck, University of London, UK

This is a great book. It uses a consistent theory throughout, explains it well, and does a tremendous job in confronting theory with data. – Steinar Holden, University of Oslo, Norway

Instead of presenting macroeconomics as separate pieces linked in an ad hoc way, Gottfries presents a consistent approach. This, in addition to the distinctly international approach to economic data and examples, will make the book very attractive to lecturers and to their students. – M.A. (Martin) van Tuijl, Tilburg University, the Netherlands

This is a superb book! It contains a rigorous treatment of the New Keynesian model combined with illustrative examples and interesting policy discussions. Students will find the book well-written and easily accessible. – Fredrik NG Andersson, Lund University, Sweden

This book is an excellent and innovative new textbook for intermediate macroeconomics, where conventional macroeconomics is explained with a deeper emphasis on the role of microfoundations. This allows students to be exposed to modern macroeconomic analysis in a rigorous yet still accessible way. – Gianluigi Vernasca, University of Essex, UK

Editorial Reviews

Nils Gottfries's thoughtful, consistent and lucid exposition breathes fresh air into a macroeconomics textbook. It balances descriptive realism with conceptual coherence judiciously, and its application of principles to the experiences of many countries over many decades is very welcome.” —John Driffill, Birkbeck, University of London, UK

“This is a great book. It uses a consistent theory throughout, explains it well, and does a tremendous job in confronting theory with data.” —Steinar Holden, University of Oslo, Norway

“Instead of presenting macroeconomics as separate pieces linked in an ad hoc way, Gottfries presents a consistent approach. This, in addition to the distinctly international approach to economic data and examples, will make the book very attractive to lecturers and to their students.” —M.A. (Martin) van Tuijl, Tilburg University, the Netherlands

“This is a superb book! It contains a rigorous treatment of the New Keynesian model combined with illustrative examples and interesting policy discussions. Students will find the book well-written and easily accessible.” —Fredrik NG Andersson, Lund University, Sweden

“This book is an excellent and innovative new textbook for intermediate macroeconomics, where conventional macroeconomics is explained with a deeper emphasis on the role of microfoundations. This allows students to be exposed to modern macroeconomic analysis in a rigorous yet still accessible way.” —Gianluigi Vernasca, University of Essex, UK

From the Publisher