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How To Think And Reason In Macroeconomics

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How to Think and Reason in Macroeconomics

How to Think and Reason in Macroeconomics Book
Author : P. C. v N. Fourie
Publisher : Juta and Company Ltd
Release : 2000
ISBN : 9780702155482
Language : En, Es, Fr & De

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Book Description :

This text teaches how to think and reason about macroeconomic events and policy. It seeks to combine economic theory with a feel for South African economic processes, institutions and data.

How to Think and Reason in Macroeconomics

How to Think and Reason in Macroeconomics Book
Author : Frederick C. v. N. Fourie,Philippe Burger
Publisher : Juta and Company Ltd
Release : 2009
ISBN : 9780702177613
Language : En, Es, Fr & De

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Book Description :

Geared to upper-level college students or MBA candidates, this economics textbook uses examples from Africa to explain why the rate of economic growth is higher in some countries than in others, why the inflation rate varies from year to year, why unemployment rates rise and fall, why the Zimbabwean dollar is weak compared to strong currencies such as Botswana’s, and why imports of goods and services sometimes increase quite suddenly. The book also provides comments on the role of government and highlights ways to improve macroeconomic policies in developing countries.

How to Think and Reason in Macroeconomics

How to Think and Reason in Macroeconomics Book
Author : Frederick C. v. N. Fourie,Philippe Burger
Publisher : Unknown
Release : 2019
ISBN : 9781485130475
Language : En, Es, Fr & De

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Book Description :

Download How to Think and Reason in Macroeconomics book written by Frederick C. v. N. Fourie,Philippe Burger, available in PDF, EPUB, and Kindle, or read full book online anywhere and anytime. Compatible with any devices.

Macroeconomics from the Bottom up

Macroeconomics from the Bottom up Book
Author : Domenico Delli Gatti,Saul Desiderio,Edoardo Gaffeo,Pasquale Cirillo,Mauro Gallegati
Publisher : Springer Science & Business Media
Release : 2011-04-18
ISBN : 8847019710
Language : En, Es, Fr & De

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Book Description :

This book arose from our conviction that the NNS-DSGE approach to the analysis of aggregate market outcomes is fundamentally flawed. The practice of overcoming the SMD result by recurring to a fictitious RA leads to insurmountable methodological problems and lies at the root of DSGE models’ failure to satisfactorily explain real world features, like exchange rate and banking crises, bubbles and herding in financial markets, swings in the sentiment of consumers and entrepreneurs, asymmetries and persistence in aggregate variables, and so on. At odds with this view, our critique rests on the premise that any modern macroeconomy should be modeled instead as a complex system of heterogeneous interacting individuals, acting adaptively and autonomously according to simple and empirically validated rules of thumb. We call our proposed approach Bottom-up Adaptive Macroeconomics (BAM). The reason why we claim that the contents of this book can be inscribed in the realm of macroeconomics is threefold: i) We are looking for a framework that helps us to think coherently about the interrelationships among two or more markets. In what follows, in particular, three markets will be considered: the markets for goods, labor and loanable funds. In this respect, real time matters: what happens in one market depends on what has happened, on what is happening, or on what will happen in other markets. This implies that intertemporal coordination issues cannot be ignored. ii) Eventually, it’s all about prices and quantities. However, we are mostly interested in aggregate prices and quantities, that is indexes built from the dispersed outcomes of the decentralized transactions of a large population of heterogeneous individuals. Each individual acts purposefully, but she knows anything about the levels of prices and quantities which clear markets in the aggregate. iii) In the hope of being allowed to purport scientific claims, BAM relies on the assumption that individual purposeful behaviours aggregates into regularities. Macro behaviour, however, can depart radically from what the individual units are trying to accomplish. It is in this sense that aggregate outcomes emerge from individual actions and interactions.

A History of Macroeconomics from Keynes to Lucas and Beyond

A History of Macroeconomics from Keynes to Lucas and Beyond Book
Author : Michel De Vroey
Publisher : Cambridge University Press
Release : 2016-01-08
ISBN : 0521898439
Language : En, Es, Fr & De

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Book Description :

This book retraces the history of macroeconomics from Keynes's General Theory to the present. Central to it is the contrast between a Keynesian era and a Lucasian - or dynamic stochastic general equilibrium (DSGE) - era, each ruled by distinct methodological standards. In the Keynesian era, the book studies the following theories: Keynesian macroeconomics, monetarism, disequilibrium macro (Patinkin, Leijongufvud, and Clower) non-Walrasian equilibrium models, and first-generation new Keynesian models. Three stages are identified in the DSGE era: new classical macro (Lucas), RBC modelling, and second-generation new Keynesian modeling. The book also examines a few selected works aimed at presenting alternatives to Lucasian macro. While not eschewing analytical content, Michel De Vroey focuses on substantive assessments, and the models studied are presented in a pedagogical and vivid yet critical way.

Principles of Macroeconomics

Principles of Macroeconomics Book
Author : Soumen Sikdar
Publisher : Oxford University Press
Release : 2020-06-12
ISBN : 0190990848
Language : En, Es, Fr & De

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Book Description :

Principles of Macroeconomics is a lucid and concise introduction to the theoretical and practical aspects of macroeconomics. This revised and updated third edition covers key macroeconomic issues such as national income, investment, inflation, balance of payments, monetary and fiscal policies, economic growth and banking system. This book also explains the role of the government in guiding the economy along the path of stable prices, low unemployment, sustainable growth, and planned development through many India-centric examples. Special attention has been given to macroeconomic management in a country linked to the global economy. This reader-friendly book presents a wide coverage of relevant themes, updated statistics, chapter-end exercises, and summary points modelled on the Indian context. It will serve as an indispensable introductory resource for students and teachers of macroeconomics.

Macroeconomics

Macroeconomics Book
Author : William Mitchell,L. Randall Wray,Martin Watts
Publisher : Bloomsbury Publishing
Release : 2019-02-08
ISBN : 1137610670
Language : En, Es, Fr & De

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Book Description :

This groundbreaking new core textbook encourages students to take a more critical approach to the prevalent assumptions around the subject of macroeconomics, by comparing and contrasting heterodox and orthodox approaches to theory and policy. The first such textbook to develop a heterodox model from the ground up, it is based on the principles of Modern Monetary Theory (MMT) as derived from the theories of Keynes, Kalecki, Veblen, Marx, and Minsky, amongst others. The internationally-respected author team offer appropriate fiscal and monetary policy recommendations, explaining how the poor economic performance of most of the wealthy capitalist countries over recent decades could have been avoided, and delivering a well-reasoned practical and philosophical argument for the heterodox MMT approach being advocated. The book is suitable for both introductory and intermediate courses, offering a thorough overview of the basics and valuable historical context, while covering everything needed for more advanced courses. Issues are explained conceptually, with the more technical, mathematical material in chapter appendices, offering greater flexibility of use. Accompanying online resources for this title can be found at bloomsburyonlineresources.com/mitchell-macroeconomics. These resources are designed to support teaching and learning when using this textbook and are available at no extra cost.

The Holy Grail of Macroeconomics

The Holy Grail of Macroeconomics Book
Author : Richard C. Koo
Publisher : John Wiley & Sons
Release : 2011-11-21
ISBN : 1118179188
Language : En, Es, Fr & De

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Book Description :

The revised edition of this highly acclaimed work presents cruciallessons from Japan's recession that could aid the US and othereconomies as they struggle to recover from the current financialcrisis. This book is about Japan's 15-year long recession and how itaffected current theoretical thinking about its causes and cures.It has a detailed explanation on what happened to Japan, but thediscoveries made are so far-reaching that a large portion ofeconomics literature will have to be modified to accommodateanother half to the macroeconomic spectrum of possibilities thatconventional theorists have overlooked. The author developed the idea of yin and yang business cycleswhere the conventional world of profit maximization is the yang andthe world of balance sheet recession, where companies areminimizing debt, is the yin. Once so divided, many varied theoriesdeveloped in macro economics since the 1930s can be nicelycategorized into a single comprehensive theory- The Holy Grailof Macro Economics

Modern Money Theory

Modern Money Theory Book
Author : L. Randall Wray
Publisher : Springer
Release : 2015-09-22
ISBN : 1137539925
Language : En, Es, Fr & De

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Book Description :

This second edition explores how money 'works' in the modern economy and synthesises the key principles of Modern Money Theory, exploring macro accounting, currency regimes and exchange rates in both the USA and developing nations.

The General Theory of Employment Interest and Money

The General Theory of Employment  Interest  and Money Book
Author : John Maynard Keynes,General Press
Publisher : GENERAL PRESS
Release : 2019-10-05
ISBN : 9389440629
Language : En, Es, Fr & De

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Book Description :

The General Theory of Employment, Interest, and Money, written by legendary author John Maynard Keynes is widely considered to be one of the top 100 greatest books of all time. This masterpiece was published right after the Great Depression. It sought to bring about a revolution, commonly referred to as the ‘Keynesian Revolution’, in the way economists thought—especially challenging the proposition that a market economy tends naturally to restore itself to full employment on its own. Regarded widely as the cornerstone of Keynesian thought, this book challenged the established classical economics and introduced new concepts. ‘The General Theory of Employment, Interest, and Money’ transformed economics and changed the face of modern macroeconomics. Keynes’ argument is based on the idea that the level of employment is not determined by the price of labour, but by the spending of money. It gave way to an entirely new approach where employment, inflation and the market economy are concerned.

The Oxford Handbook of Thinking and Reasoning

The Oxford Handbook of Thinking and Reasoning Book
Author : Keith J. Holyoak,Robert G. Morrison
Publisher : Oxford University Press
Release : 2013-05-23
ISBN : 0199313792
Language : En, Es, Fr & De

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Book Description :

The Oxford Handbook of Thinking and Reasoning brings together the contributions of many of the leading researchers in thinking and reasoning to create the most comprehensive overview of research on thinking and reasoning that has ever been available.

Digital Humanities

Digital Humanities Book
Author : Anne Burdick,Johanna Drucker,Peter Lunenfeld,Todd Presner,Jeffrey Schnapp
Publisher : MIT Press
Release : 2016-02-12
ISBN : 026252886X
Language : En, Es, Fr & De

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Book Description :

A visionary report on the revitalization of the liberal arts tradition in the electronically inflected, design-driven, multimedia language of the twenty-first century. Digital_Humanities is a compact, game-changing report on the state of contemporary knowledge production. Answering the question “What is digital humanities?,” it provides an in-depth examination of an emerging field. This collaboratively authored and visually compelling volume explores methodologies and techniques unfamiliar to traditional modes of humanistic inquiry—including geospatial analysis, data mining, corpus linguistics, visualization, and simulation—to show their relevance for contemporary culture. Written by five leading practitioner-theorists whose varied backgrounds embody the intellectual and creative diversity of the field, Digital_Humanities is a vision statement for the future, an invitation to engage, and a critical tool for understanding the shape of new scholarship.

The New Economics

The New Economics Book
Author : Steve Keen
Publisher : John Wiley & Sons
Release : 2021-11-11
ISBN : 1509545301
Language : En, Es, Fr & De

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Book Description :

In 1517, Martin Luther nailed his 95 theses to the wall of Wittenberg church. He argued that the Church’s internally consistent but absurd doctrines had pickled into a dogmatic structure of untruth. It was time for a Reformation. Half a millennium later, Steve Keen argues that economics needs its own Reformation. In Debunking Economics, he eviscerated an intellectual church – neoclassical economics – that systematically ignores its own empirical untruths and logical fallacies, and yet is still mysteriously worshipped by its scholarly high priests. In this book, he presents his Reformation: a New Economics, which tackles serious issues that today's economic priesthood ignores, such as money, energy and ecological sustainability. It gives us hope that we can save our economies from collapse and the planet from ecological catastrophe. Performing this task with his usual panache and wit, Steve Keen’s new book is unmissable to anyone who has noticed that the economics Emperor is naked and would like him to put on some clothes.

Big Ideas in Macroeconomics

Big Ideas in Macroeconomics Book
Author : Kartik B. Athreya
Publisher : MIT Press
Release : 2013-12-27
ISBN : 026231441X
Language : En, Es, Fr & De

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Book Description :

An accessible description of modern macroeconomics, and a defense of its policy relevance. Macroeconomists have been caricatured either as credulous savants in love with the beauty of their mathematical models or as free-market fundamentalists who admit no doubt as to the market's wisdom. In this book, Kartik Athreya draws a truer picture, offering a nontechnical description of prominent ideas and models in macroeconomics, and arguing for their value as interpretive tools as well as their policy relevance. Athreya deliberately leaves out the technical machinery, providing an essential guide to the sometimes abstract ideas that drive macroeconomists' research and practical policy advice. Athreya describes the main approach to macroeconomic model construction, the foundational Walrasian general-equilibrium framework, and its modern version, the Arrow-Debreu-McKenzie (ADM) model. In the heart of the book, Athreya shows how the Walrasian approach shapes and unifies much of modern macroeconomics. He details models central to ongoing macroeconomic analyses: the neoclassical and stochastic growth models, the standard incomplete-markets model, the overlapping-generations model, and the standard search model. Athreya's accessible primer traces the links between the views and policy advice of modern macroeconomists and their shared theoretical approach.

Modern Monetary Theory and Practice an Introductory Text

Modern Monetary Theory and Practice  an Introductory Text Book
Author : W. Mitchell
Publisher : Unknown
Release : 2016-03-10
ISBN : 9781530338795
Language : En, Es, Fr & De

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Book Description :

Modern Monetary Theory and Practice: An Introductory Text is an introductory textbook for university-level macroeconomics students. It is based on the principles of Modern Monetary Theory (MMT) and includes the following detailed chapters:Chapter 1: IntroductionChapter 2: How to Think and Do MacroeconomicsChapter 3: A Brief Overview of the Economic History and the Rise of CapitalismChapter 4: The System of National Income and Product AccountsChapter 5: Sectoral Accounting and the Flow of FundsChapter 6: Introduction to Sovereign Currency: The Government and its MoneyChapter 7: The Real Expenditure ModelChapter 8: Introduction to Aggregate SupplyChapter 9: Labour Market Concepts and MeasurementChapter 10: Money and BankingChapter 11: Unemployment and InflationChapter 12: Full Employment PolicyChapter 13: Introduction to Monetary and Fiscal Policy OperationsChapter 14: Fiscal Policy in Sovereign nationsChapter 15: Monetary Policy in Sovereign NationsIt is intended as an introductory course in macroeconomics and the narrative is accessible to students of all backgrounds. All mathematical and advanced material appears in separate Appendices.

Interest and Prices

Interest and Prices Book
Author : Michael Woodford
Publisher : Princeton University Press
Release : 2011-12-12
ISBN : 1400830168
Language : En, Es, Fr & De

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Book Description :

With the collapse of the Bretton Woods system, any pretense of a connection of the world's currencies to any real commodity has been abandoned. Yet since the 1980s, most central banks have abandoned money-growth targets as practical guidelines for monetary policy as well. How then can pure "fiat" currencies be managed so as to create confidence in the stability of national units of account? Interest and Prices seeks to provide theoretical foundations for a rule-based approach to monetary policy suitable for a world of instant communications and ever more efficient financial markets. In such a world, effective monetary policy requires that central banks construct a conscious and articulate account of what they are doing. Michael Woodford reexamines the foundations of monetary economics, and shows how interest-rate policy can be used to achieve an inflation target in the absence of either commodity backing or control of a monetary aggregate. The book further shows how the tools of modern macroeconomic theory can be used to design an optimal inflation-targeting regime--one that balances stabilization goals with the pursuit of price stability in a way that is grounded in an explicit welfare analysis, and that takes account of the "New Classical" critique of traditional policy evaluation exercises. It thus argues that rule-based policymaking need not mean adherence to a rigid framework unrelated to stabilization objectives for the sake of credibility, while at the same time showing the advantages of rule-based over purely discretionary policymaking.

Micromotives and Macrobehavior

Micromotives and Macrobehavior Book
Author : Thomas C. Schelling
Publisher : W. W. Norton & Company
Release : 2006-10-17
ISBN : 9780393069778
Language : En, Es, Fr & De

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Book Description :

Before Freakonomics and The Tipping Point there was this classic by the 2005 Nobel Laureate in Economics. "Schelling here offers an early analysis of 'tipping' in social situations involving a large number of individuals." —official citation for the 2005 Nobel Prize Micromotives and Macrobehavior was originally published over twenty-five years ago, yet the stories it tells feel just as fresh today. And the subject of these stories—how small and seemingly meaningless decisions and actions by individuals often lead to significant unintended consequences for a large group—is more important than ever. In one famous example, Thomas C. Schelling shows that a slight-but-not-malicious preference to have neighbors of the same race eventually leads to completely segregated populations. The updated edition of this landmark book contains a new preface and the author's Nobel Prize acceptance speech.

Capitalism without Capital

Capitalism without Capital Book
Author : Jonathan Haskel,Stian Westlake
Publisher : Princeton University Press
Release : 2018-10-16
ISBN : 0691183295
Language : En, Es, Fr & De

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Book Description :

Early in the twenty-first century, a quiet revolution occurred. For the first time, the major developed economies began to invest more in intangible assets, like design, branding, and software, than in tangible assets, like machinery, buildings, and computers. For all sorts of businesses, the ability to deploy assets that one can neither see nor touch is increasingly the main source of long-term success. But this is not just a familiar story of the so-called new economy. Capitalism without Capital shows that the growing importance of intangible assets has also played a role in some of the larger economic changes of the past decade, including the growth in economic inequality and the stagnation of productivity. Jonathan Haskel and Stian Westlake explore the unusual economic characteristics of intangible investment and discuss how an economy rich in intangibles is fundamentally different from one based on tangibles. Capitalism without Capital concludes by outlining how managers, investors, and policymakers can exploit the characteristics of an intangible age to grow their businesses, portfolios, and economies.

Modern Macroeconomics

Modern Macroeconomics Book
Author : Brian Snowdon,Howard R. Vane
Publisher : Edward Elgar Publishing
Release : 2005-01-01
ISBN : 1845424670
Language : En, Es, Fr & De

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Book Description :

Snowdon and Vane s book is extremely welcome. Indeed the authors examine, compare, and evaluate the evolution of the major rival stories comprising contemporary macroeconomic thought, but they also trace the development and interaction of key events and ideas as they occurred in the last century. Interviews with leading economists, one or two at the end of each chapter, also greatly help to shed light on this complexity. . . In sum, this is book which is very difficult to put down. Alessio Moneta, Journal of the History of Economic Thought It is not difficult to understand why this volume commands high praise from macroeconomic theorists, practitioners and teachers. It contains many interesting features that make it an excellent companion for both students and teachers of tertiary level macroeconomics. . . The authors present the material in a way that conveys to readers that macroeconomics is a living science , continually developing and still open to debate, controversy and competing policy prescriptions. In this respect it is a book that ought to be required reading for all teachers of the subject. It is also a valuable source of background reading for professional economists involved with economic policy making. Economic Outlook and Business Review . . . a wonderful history of macroeconomic thought from Keynes to the present, with an outstanding bibliography. It should be useful to undergraduates and graduate students as well as professional economists. Highly recommended. Steven Pressman, Choice Brian Snowdon and Howard Vane are well-known for their astute understanding of the main macroeconomic schools of thought and their skilled use of interviews with major figures. Here, they deploy a depth of scholarship in explaining the different schools and their key points of departure from one another. This book will be particularly useful to students looking for a clear, non-technical explanation of the main approaches to macroeconomics. Patrick Minford, Cardiff University, UK There are two steps to learning macroeconomics. First, to see it as it is today. Second, to understand how it got there: to understand the right and the wrong turns, the hypotheses that proved false, the insights that proved true, and the interaction of events and ideas. Only then, does one truly understand macroeconomics. This book is about step two. It does a marvellous job of it. The presentation is transparent, the interviews fascinating. You will enjoy, and you will learn. Olivier Blanchard, Massachusetts Institute of Technology, US In 40 years of teaching macroeconomics, there has been just one textbook that I have assigned year after year after year, namely, A Modern Guide to Macroeconomics by Snowdon, Vane and Wynarczyk. That altogether admirable book made clear to students what were, and are, the main intellectual issues in macroeconomics and did so with just enough formal modeling to avoid distortion by over-simplification. That book is now ten years old and the debate in macro has moved on. So there is good reason to welcome Snowdon and Vane back with this superb updated version. Axel Leijonhufvud, University of Trento, Italy This outstanding book avoids the narrow scope of most textbooks and provides an excellent guide to an unusually broad range of ideas. Thomas Mayer, University of California, Davis, US More than a decade after the publication of the critically acclaimed A Modern Guide to Macroeconomics, Brian Snowdon and Howard Vane have produced a worthy successor in the form of Modern Macroeconomics. Thoroughly extended, revised and updated, it will become the indispensable text for students and teachers of macroeconomics in the new millennium. The authors skilfully trace the origins, development and current state of modern macroeconomics from an historical perspective. They do so by thoroughly appraising the central tenets underlying the main competing schools of macroeconomic thought as well as their diverse policy imp

The Economics Book

The Economics Book Book
Author : DK
Publisher : Dorling Kindersley Ltd
Release : 2014-12-19
ISBN : 0241199336
Language : En, Es, Fr & De

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Book Description :

All your complicated economic questions and theories explained by world experts. Economics is a broad topic and if you're not an economist by profession, your knowledge might be limited - until now! The Economics Book is your jargon-free, visual guide to understanding the production and distribution of wealth. Using a combination of authoritative, clear text, and bold graphics, this encyclopedia explores and explains big questions and issues that affect us all - everything from taxation, to recession, to the housing market and much more! By following an innovative visual approach, The Economics Bookdemystifies and untangles complicated theories. Make sense of abstract concepts through colourful graphics, fun facts, and step-by-step flow diagrams. Satisfy Your Hunger for Knowledge Dive deeper into the history of economics with this page-turning book! From the ancient Greeks to today, you'll discover over 100 key ideas from the world's greatest theorists, such as Thomas Malthus, John Maynard Keynes, and Milton Friedman. Fortunately, you don't need a degree in economics to gain this type of understanding. The Economics Book is your accessible guide to gaining tonnes of invaluable economic knowledge and learning how the economy shapes our world! This book will be your guide through the history of economics: - Let the Trading Begin 400 BCE - 1770 CE - The Age of Reason 1770 - 1820 - Industrial and Economic Revolutions 1820 - 1929 - War and Depressions: 1929 - 1945 - Post-War Economics 1945 - 1970 - Contemporary Economics 1970 - Present The Series Simply Explained With over 7 million copies sold worldwide to date, The Economics Book is part of the award-winning Big Ideas series from DK Books. It uses innovative graphics along with engaging writing to make complex subjects easier to understand.