Macroeconomics, Global Edition (8th Edition) - Original PDF

دانلود کتاب Macroeconomics, Global Edition (8th Edition) - Original PDF

Author: Olivier Blanchard

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Macroeconomics

Preface
I had two main goals in writing this book:
■■ To make close contact with current macroeconomic events.
What makes macroeconomics exciting is the light it sheds
on what is happening around the world, from the major
economic crisis which engulfed the world in the late 2000s,
to monetary policy in the United States, to the problems of
the Euro area, to growth in China. These events—and many
more—are described in the book, not in footnotes, but in the
text or in detailed boxes. Each box shows how you can use
what you have learned to get an understanding of these
events. My belief is that these boxes not only convey the life
of macroeconomics, but also reinforce the lessons from the
models, making them more concrete and easier to grasp.
■■ To provide an integrated view of macroeconomics. The
book is built on one underlying model, a model that
draws the implications of equilibrium conditions in three
sets of markets: the goods market, the financial markets,
and the labor market. Depending on the issue at hand,
the parts of the model relevant to the issue are developed
in more detail while the other parts are simplified or lurk
in the background. But the underlying model is always
the same. This way, you will see macroeconomics as a
coherent whole, not a collection of models. And you will
be able to make sense not only of past macroeconomic
events but also of those that unfold in the future.
Solving Learning and Teaching
Challenges
Flexible Organization
The book is organized around two central parts: a core,
and a set of two major extensions. An introduction precedes
the core. The two extensions are followed by a review
of the role of policy. The book ends with an epilogue. The
flowchart at the beginning of this book makes it easy to see
how the chapters are organized and fit within the book’s
overall structure.
■■ Chapters 1 and 2 introduce the basic facts and issues of
macroeconomics. Chapter 1 takes you on an economic
tour of the world, from the Euro area, to the United States,
and to China. Some instructors will prefer to cover Chapter
1 later, perhaps after Chapter 2, which introduces basic
concepts, articulates the notions of short run, medium run,
and long run, and gives the reader a quick tour of the book.
While Chapter 2 gives the basics of national income
accounting, I have put a detailed treatment of national
income accounts in Appendix 1 at the end of the book.
This decreases the burden on the beginning reader and
allows for a more thorough treatment in the appendix.
■■ Chapters 3 through 13 constitute the core.
Chapters 3 through 6 focus on the short run. Chapters 3
to 5 characterize equilibrium in the goods market and in
the financial markets, and derive the basic model used to
study short-run movements in output, the IS-LM model.
Chapter 6 extends the basic IS-LM model to reflect the role
of the financial system. It then uses it to describe what
happened during the initial phase of the financial crisis.
Chapters 7 through 9 focus on the medium run. Chapter
7 focuses on equilibrium in the labor market and introduces
the notion of the natural rate of unemployment.
Chapter 8 derives and discusses the relation between
unemployment and inflation, known as the Phillips curve.
Chapter 9 develops the IS-LM-PC (PC for Phillips curve)
model which takes into account equilibrium in the goods
market, in the financial markets, and in the labor market.
It shows how this model can be used to understand movements
in activity and movements in inflation, both in the
short and in the medium run.
Chapters 10 through 13 focus on the long run. Chapter 10
describes the facts, showing the evolution of output across
countries and over long periods of time. Chapters 11 and 12
develop a model of growth and describe how capital accumulation
and technological progress determine growth.
Chapter 13, which is new, focuses on the challenges to
growth, from inequality to climate change.
■■ Chapters 14 through 20 cover the two major extensions.
Chapters 14 through 16 focus on the role of expectations
in the short run and in the medium run. Expectations play

 

 

A citizen of France, Olivier Blanchard has spent most of his professional life in Cambridge,
U.S.A. After obtaining his Ph.D. in economics at the Massachusetts Institute of Technology
in 1977, he taught at Harvard University, returning to MIT in 1982. He was chair of the
economics department from 1998 to 2003. In 2008, he took a leave of absence to be the Economic
Counsellor and Director of the Research Department of the International Monetary
Fund. Since October 2015, he has been the Fred Bergsten Senior Fellow at the Peterson Institute
for International Economics, in Washington. He also remains Robert M. Solow Professor
of Economics emeritus at MIT.
He has worked on a wide set of macroeconomic issues, from the role of monetary policy,
to the nature of speculative bubbles, to the nature of the labor market and the determinants
of unemployment, to transition in former communist countries, and to forces behind the recent
global crisis. In the process, he has worked with numerous countries and international
organizations. He is the author of many books and articles, including a graduate level textbook
with Stanley Fischer.
He is a past editor of the Quarterly Journal of Economics, of the NBER Macroeconomics
Annual, and founding editor of the AEJ Macroeconomics. He is a fellow and past council
member of the Econometric Society, a past president of the American Economic Association,
and a member of the American Academy of Sciences.

ادامه ...

9780134897899

0134897897

9780134897899

1292351586

9781292351582

1292351470 9781292351476

ادامه ...

ادامه ...
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