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Опубликовано на портале: 29-08-2003
Upper Saddler River, NJ: Prentice-Hall, 2003
Тематический раздел:
The fundamental goals of this text are to provide an integrated view of macroeconomics, and to make close contact with current macroeconomic events.

This Intermediate Macroeconomics text is organized around a set of core chapters followed by three optional extensions. The core covers the short run, medium run and then long run and is then followed by the three extensions: openness, expectations, and pathologies. The book concludes with a section on policy although policy issues are also sprinkled through most chapters. The book is known for its global emphasis and empirical applications. The Third Edition has simplified many of the more difficult topics. Theoretical material is always presented in three ways: in words, in graphs, and with algebra.

For courses in Intermediate Macroeconomics or MBA level Macroeconomics for Managers.

New Page 3 Features
  • NEWRewritten and revised throughout to make complex concepts simplerThe author asked a team of students to look closely at each argument in the book; identify if it was difficult or confusing and identify how it could be presented more simply. Their work led to a thorough rewrite of the book. The architecture of the book is the same but the book is very different in the way material is discussed, explained, and illustrated. The arguments are simpler, more straightforward and easier to grasp.
    • Clarifies concepts and arguments throughout the text, simplifies the treatment of aggregate supply, and moves more challenging material to the appendices when feasible.
  • OrganizationThe book is organized around two central parts: A core, and a set of three major extensions. An introduction precedes the core. The set of extensions is followed by a review of the role of policy. The book ends with an epilogue. A flowchart on the front end paper makes it easy to see how the chapters are organized, and fit the book's overall structure. The extensions can be covered in any order and one or all can be omitted entirely.
    • Gives a lot of flexibility in what to teach, and how much to teach.
  • Real world issues addressedBlanchard makes sure never to present a theoretical result without relating it to the real world. In addition to discussions of facts in the text itself, there are numerous Focus boxes which discuss particular macroeconomic events or facts, from both the United States and around the World.
    • The fun of macroeconomics is in explaining events, across time and across countries.
  • Margin notesHighlight important points; relate an argument to an earlier one in the text; summarize a series of steps; suggest further readings; give a related fact; or tell a related anecdote.
    • Creates a dialogue with the reader, helps reinforce more difficult passages, and gives students a deeper understanding of the concepts and the results derived along the way.
  • NEWAdded boxed materiale.g., the New Economy; the effects of 9/11 on consumption; and an in-depth treatment of the slump in Japan.
    • Gives students an awareness and understanding of the role current events play in macroeconomics.
  • One integrative, underlying model throughoutConcentrates on the implications of equilibrium conditions in three sets of markets: goods, financial, and labor. Depending on the issue at hand, parts of the model are developed in more detail while others are simplified or left in the background.
    • Enables students to see macroeconomics as a coherent whole, not as a collection of models.
  • The application of theory is highlightedExplains what is happening around the world, from the introduction of a new currency in Western Europe, to the reduction of budget deficits in the United States.
    • Conveys to students the fun of macroeconomics, and reinforces the lessons from the modelsmaking them more concrete and easier to grasp.
  • Basic algebra, graphs, and wordsReinforces concepts throughout the text.
    • Provides students with varied learning styles with the tools to understand and retain information using three different methods.
  • Unique presentation of theoretical materialRelates it to the real world.
    • Helps students understand the concepts more clearly by placing them in the context of real world applications.
  • Boxed material throughout each chapterSome boxes use a macroeconomic episode or example to expand on a point made in the text; Some boxes examine particular macroeconomic episodes in detail; Some boxes look at macroeconomic episodes from around the world, with a focus on real world applications.
    • Shows how theoretical arguments can be used to understand events around the world.
  • Short appendices to some chapters.
    • Demonstrates how a proposition in the text can be derived more rigorously or expanded.
  • Further reading sectionsAt the end of each chapter.
    • Provides students with a list of resources to further their study of macroeconomics, including key Internet addresses.
New Page 4 Table of Contents



1. A Tour of the World.
2. A Tour of the Book.


The Short Run.

3. The Goods Market.
4. Financial Markets.
5. Goods and Financial Markets: The IS-LM Model.

The Medium Run.

6. The Labor Market.
7. Putting All Markets Together: The AS-AD Model.
8. The Natural Rate of Unemployment and The Phillips Curve.
9. Inflation, Activity, and Money Growth.

The Long Run.

10. The Facts of Growth.
11. Saving, Capital Accumulation, and Output.
12. Technological Progress and Growth.
13. Technological Progress, Wages, and Unemployment.


14. Expectations: The Basic Tools.
15. Financial Markets and Expectations.
16. Expectations, Consumption, and Investment.
17. Expectations, Output, and Policy.

The Open Economy.

18. Openness in Goods and Financial Markets.
19. The Goods Market in an Open Economy.
20. Output, the Interest Rate, and the Exchange Rate.
21. Exchange Rate Regimes.


22. Slumps and Depressions.
23. High Inflation.



24. Should Policy Makers Be Restrained?
25. Monetary Policy: A Summing Up.
26. Fiscal Policy: A Summing Up.


27. The Story of Macroeconomics.



Appendix 1: An Introduction to National Income and Product Accounts.
Appendix 2: A Math Refresher.
Appendix 3: An Introduction to Econometrics.

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