There is no one better than Mankiw when it comes to explaining macroeconomics theory, research, and policy.
The number one product for the Intermediate Macro course, this text explains complex concepts with exceptional clarity. This new edition has updated coverage on income inequality, full coverage of the monetary system across two chapters, and an improved model of labor-force dynamics to explain the natural rate of unemployment.
Part I. Introduction. The Science of macroeconomics ; The data of macroeconomics
Part II. Classical Theory : The Economy in the Long Run. National income : How it is earned ; national Income: how it is spent ; A first look at the monetary system ; Inflation : Its causes, effects, and social costs ; The open economy ; The large open economy ; Unemployment and the labor market
Part III. Growth Theory : The Economy in the Very Long Run. Capital accumulation as a source of growth ; Population growth and technological progress ; Growth empirics and policy
Part IV. Business Cycle Theory : The Economy in the Short Run. Introduction to economic fluctuations ; Aggregate demand I : Building the IS-LM model ; Aggregate demand II : Applying the IS-LM model ; The open economy revisited : The Mundell-Fleming model and the exchange-rate regime ; A short-run model of the large open economy ; Aggregate supply and the short-run tradeoff between inflation and unemployment ; The mother of all models
Part V. Topics in Macroeconomic Theory and Policy. A dynamic model of economic fluctuations ; Alternative perspectives on stabilization policy ; Time inconsistency and the tradoff between inflation and unemployment ; Government debt and budget deficits ; Banking and monetary policy ; The financial system : Opportunities and dangers ; The microfoundations of consumption and investment
Epilogue. What we know, what we don't
Glossary.
