Macroeconomics – Rudiger Dornbusch – 13th Edition


“The 13th edition of Macroeconomics is published 39 years after the first one. We have been surprised and flattered by the response our book has received during those years. In addition to its use in the classrooms of many US universities, it has been translated in many languages ??and has been used in many countries, from Canada to Argentina and Australia; all of Europe; in India, Indonesia and Japan; and from China and Albania to Russia. Even before the Czech Republic became independent from communism, they are considered secretly a clandestine translation in macroeconomic seminars at Charles University in Prague.

There is no greater pleasure for teachers and textbook authors who will see their efforts succeed so concretely throughout the world. We believe that the success of our textbook reflects the unique characteristics it brings to the universe of undergraduate macroeconomics. These characteristics can be summarized as follows: • “Compassionate difficulty” Over the years, we have maintained the conviction that the best textbook is one written with constant respect for both the student and the instructor. What does this mean exactly? In practice, it means that we explore more cutting-edge research than usual in undergraduate textbooks, allowing students a starting point for a deeper exploration of various topics, and teachers the flexibility to emphasize The topics in greater detail. At the same time, however, we have reduced the level of difficulty of the book by providing direct explanations, emphasizing concepts about technique and adjusting difficult material in a broader framework so students can see its relevance.

We also emphasize how empirical data can explain and test macroeconomic theory, by providing illustrations that use real-world data. • Focus on models The best economists have a rich toolbox of simple models that they can use to analyze various facets of the economy and know when to apply the correct model to answer specific questions. We have constantly focused our textbook on the presentation of a series of simple models relevant to particular problems. We strive to help students understand both the importance of a model-based approach to macroeconomic analysis, and how the different models are connected. Our goal is to produce students who have the ability to analyze current economic problems in the context of a reference economic framework, a saber, a set of macroeconomic models. • International perspective It has always been important for students living in countries with highly open difficulties to understand the important links that foreign chemists connect with theirs.

This is also becoming increasingly true in the United States as international goods and financial markets become increasingly intertwined. Recognizing this, we provide two detailed chapters that discuss international links. The first, Chapter 13, offers a discussion on generalized intermediate macroeconomics
The second, Chapter 23, provides advanced students the opportunity to explore the modern theories of the balance of payments crisis, the determinants of exchange rates and the choice of exchange rate regimes. These chapters give instructors the flexibility to adapt their curriculum to cover from touching some international issues to participating in a more comprehensive discussion that lasts several weeks. • Focus on changing times We have endeavored to present updated data throughout the book, demonstrating key trends and presenting often exhaustive on how these trends could explain through traditional macroeconomic models. “

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  • 1. Introduction 1
    2. National Income Accounting 22
    3. Growth and Accumulation 54
    4. Growth and Policy 79
    5. Aggregate Supply and Demand 99
    6. Aggregate Supply and the Phillips Curve 120
    7. Unemployment 154
    8. Inflation 178
    9. Policy Preview 191
    10. Income and Spending 201
    11. Money, Interest, and Income 227
    12. Monetary and Fiscal Policy 256
    13. International Linkages 295
    14. Consumption and
    Saving 331
    15. Investment Spending 357
    16. The Demand for Money 387
    17. The Fed, Money, and Credit 408
    18. Policy 433
    19. Financial Markets and Asset Prices 462
    20. The National Debt 476
    21. Recession and Depression 497
    22. Inflation and
    Hyperinflation 514
    23. International Adjustment and Interdependence 536
    24. Advanced Topics 579
    Appendix 615
    Glossary 621
    Index 639
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