Dornbusch, Fischer, and Startz Macroeconomics has been a leading intermediate macroeconomic theory text since its introduction in 1978. This revision retains most of the texts traditional features, including a middle-of-the-road approach and very current research, while updating and simplifying the exposition. The text is now even easier to teach from. The only prerequisite continues to be principles of economics.
New to This Edition Expanded coverage of growth from one chapter to two. Growth has been moved forward to chapters 3 and 4 of the text.
A new chapter (8) on the New Macroeconomics, greatly expands the section from former chapter 1. Covers rational expectations, the unit root of GDP controversy, real business cycles, and new Keynesian sticky price theory.
A middle of the road approach by experts. Controversies are explained but conclusions remain neutral.
Dornbusch, a specialist in Latin American economics, and Fischer, First Deputy Managing Director of the International Monetary Fund, speak with authority. Dick Startz, new co-author for 7e, was a graduate student of theirs and teaches at the University of Washington.
International coverage always strong with two updated chapters (12 and 21).
The two chapters on inflation and unemployment (16 & 17) have been condensed to one (7). Classic questions linked to modern treatments.
Table of Contents
Part I. Introduction and National Income Accounting
Chapter 1. Introduction
Chapter 2. National Income Accounting
Part II. Growth, Aggregate Supply and Demand, and Policy
Chapter 3. Growth and Accumulation
Chapter 4. Growth and Policy
Chapter 5. Aggregate Supply and Demand
Chapter 6. Aggregate Supply: Wages, Prices and Unemployment
Chapter 7. The Anatomy of Inflation and Unemployment
Chapter 8. Policy
Part III. First Models
Chapter 9. Income and Spending
Chapter 10. Money, Interest, and Income
Chapter 11. Monetary and Fiscal Policy
Chapter 12. International Linkages
Part IV. Behavioral Foundations
Chapter 13. Consumption and Savings
Chapter 14. Investment Spending
Chapter 15. The Demand for Money
Chapter 16. The Fed, Money and Credit
Chapter 17. Financial Markets
Part V. Big Events, International Adjustments, and Advanced Topics
Chapter 18. Big Events: The Economics of Depression, Hyperinflation, and Deficits
Chapter 19. International Adjustment and Interdependence
Chapter 20. Advanced Topics