Macroeconomics

Description

The Core: Introduction. A Tour of the World -- A Tour of the Book. The Core: The Short Run. The Goods Market -- Financial Markets -- Goods and Financial Markets: The IS-LM Model -- Openness in Goods and Financial Markets -- The Goods Market in an Open Economy -- Output, the Interest Rate, and the Exchange Rate. The Core: The Medium Run. The Labour Market -- All Markets Together. The AS-AD Model: The Basics -- All Markets Together. The AS-AD Model: Liquidity Traps and Supply Shocks -- The Phillips Curve, the Natural Rate of Unemployment, and Inflation -- Inflation, Economic Growth, and Money Growth -- Exchange Rates in the Medium Run: Adjustments, Crises, and Regimes. The Core: The Long Run. The Facts of Growth -- Saving, Capital Accumulation, and Output -- Technological Progress and Growth -- Economic Growth in the Open Economy. Expectations. Expectations: The Basic Tools -- Financial Markets and Expectations -- Expectations, Consumption, and Investment -- Expectations, Output, and Policy. Back to Policy. Should Policy Makers Be Restrained? -- Monetary Policy: A Summing Up -- Fiscal Policy: A Summing Up -- Epilogue: The Story of Macroeconomics. Appendices. An Introduction to Canada's System of National Accounts -- A Math Refresher -- An Introduction to Econometrics -- Symbols Used in this Book.