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Publisher: Lyryx. Macroeconomics: Theory, Markets, and Policy provides complete, concise coverage of introductory macroeconomics theory and policy. It examines the Canadian economy as an economic system, and embeds current Canadian institutions and approaches to monetary policy and fiscal policy within that system. The text observes short-run macroeconomic performance, analysis, and policy motivated by the recessions of the early s and s, the financial crisis and recession of , and the prolonged recovery in most industrial countries. Numerical examples, diagrams, and basic algebra are used in combination to illustrate and explain economic relationships.
This includes regional, national, and global economies. While macroeconomics is a broad field of study, there are two areas of research that are emblematic of the discipline: the attempt to understand the causes and consequences of short-run fluctuations in national income the business cycle , and the attempt to understand the determinants of long-run economic growth increases in national income. Macroeconomic models and their forecasts are used by governments to assist in the development and evaluation of economic policy. Macroeconomists study aggregated indicators such as GDP , unemployment rates , national income , price indices , and the interrelations among the different sectors of the economy to better understand how the whole economy functions. They also develop models that explain the relationship between such factors as national income , output , consumption , unemployment , inflation , saving , investment , energy , international trade , and international finance. Macroeconomics and microeconomics , a pair of terms coined by Ragnar Frisch , are the two most general fields in economics. Macroeconomics descended from the once divided fields of business cycle theory and monetary theory.
It seems that you're in Germany. We have a dedicated site for Germany. This book provides a non-mathematical introduction to the macroeconomic analysis of both the open economy and the world economy. While it presumes some basic understanding of macroeconomics, it does not require any significant mathematical capability. The first part examines the macro theory of the open economy: the second part examines macroeconomic stabilisation policy in the context of an open economy, and the world economy: and the third part looks at various case-studies or applications of the analysis introduced in the first two parts. This has been radically rewritten to accommodate recent global economic events, and demonstrates how the theoretical discussion goes a long way to explain recent changes in the world economy. Each chapter is accompanied by some brief notes and additional references but the intention has been to keep the book short and manageable.
Macroeconomics: Theory and Policy provides students with comprehensive coverage of all the essential concepts of macroeconomics.
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The Great Depression of the s gave birth to a branch of economics that in Ragnar Frisch christened macroeconomics. Over the decades that followed up to the present, the interactions of economic events, economic policy, and macroeconomic theory have created a fascinating story integral to the life and politics of national economies around the world.