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Williamson builds a balanced study of macroeconomics upon a firm foundation of microeconomic principles. This approach allows deeper insights into growth processes and business cycles, better integrates the study of macroeconomics with microeconomics, and maintains consistency with current methods of macroeconomic research. The combined result is a better preparation for other courses.
Table of Contents
Introduction and Measurement Issues
Measurement: National Income Accounting, Prices, Saving, and Labor Markets
Business Cycle Measurement
A One-Period Model of the Macroeconomy
Consumer and Firm Behavior: The Work-Leisure Decision and Profit Maximization
A Closed-Economy One-Period Macroeconomic Model
Economic Growth: Malthus and Solow
Income Disparity Among Countries and Endogenous Growth
Savings, Investment, and Government Deficits
A Two-Period Model: The Consumption Savings Decision and Credit Markets
A Real Intemporal Model with Investment
Money and Business Cycles
A Monetary Intertemporal Model: Money, Prices, and Monetary Policy
Market-Clearing Models of the Business Cycle
Keynesian Business Cycle Theory: The Sticky Price Model
International Trade in Goods and Assets
Money in the Open Economy
Topics in Macroeconomics
Money, Inflation, and Banking
Unemployment: Search and Efficiency Wages
Inflation, the Phillips Curve, and Central Bank Commitmen?
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