Principles of Macroeconomics: An Evolutionary Approach presents the development of Macroeconomic Theory from its split into Neoclassical and Keynesian during the Great Depressions to its current form after the Great Recession. By showing how crises led to the development of macroeconomic theory, and how this development was rooted in microeconomics originally, the student gets a feeling of the changing nature of the science that economists call Macroeconomics.
Principles of Macroeconomics: An Evolutionary Approach includes:
- questions at the end of each chapter include a link up to the Federal Reserve Bank of St. Louis free, open software, course modules under their EconLowdown framework.
- an online learning system with interactive example questions and online tests, both pre-module and post-module, as a substitute to alternative proprietary software linked to publishing houses.
- links to EconLowdown modules in every one of its chapters and the policy that the Federal Reserve Bank (Fed) pursues is a subject of the text both for normal times and crisis periods
1 Microeconomic to Macroeconomic Foundations
Micro Principles Used in Macro
Aggregate Output & Income
Macro Divergence from Micro
2 Comovement & Crises
Business Cycles, Crises & Growth
Money, Banking & Policy
Crises and Inflation
3 Cycles and Growth
Savings, Investment & Interest
AS – AD & Business Cycles
Growth, Progress & AS–AD
Policy as Social Insurance
Great Recession & Lost Decade