TITLE : MACROECONOMICS. 3RD ED.*

 
Contents
 
1.  Macroeconomics	1
	Macroeconomic Goals and Performance 3
	Macroanalysis 7
	Summary 8
	Review Questions 8
	
2.  The National Income Accounts	10
	Gross National Product 11
	National Income 21
	Personal and Disposable Income 26
	Personal Savings 29
	Summary 30
	Review Questions 31
	References 32
	
3.  Consumption	33
	The Subjective Influences 33
	The Objective Influences 36
	Consumption Functions 40
	Savings and Consumption 43
	The Shape of the Functions 49
	Explanations of the Relationship between Consumption and Income 53
	Summary 65
	Review Questions 66
	References 66
 
4.  Investment and Capital	68
	The Decision to Invest 69
	Investment Functions 83
	The Instability of Investment Purchasing 84
	Summary 86
	Review Questions 87
	References 87
	Appendix: Investment and the Stock of Capital 88
	5. Imports and Exports	97
	The Determinants of Imports and Exports 99
	The Net Exports Approach 102
	Export and Import Instability 103
	International Trade and the Level of Income 105
	Summary 106
	Review Questions 107
	References 107
 
6.  The Level of Income	109
	The Forces That Move an Economy's Income 113
	The Multipliers 117
	Income and Interest 123
	The Nature of Equilibrium 132
	Summary 133
	Review Questions 133
	References 134
 
7.  Government: Fiscal Activities	135
	Government Purchasing 136
	Government Transfers 138
	Taxes 144
	Government Borrowing 148
	Government Budgets and the Level of Income 151
	Changes in the Level of Income 154
	Summary 161
	Review Questions 162
	References 162
	
8.  Money, Interest, and Intermediation	164
	Money 165
	Financial Intermediaries 168
	The Amount of Money and Credit 170
	Interest Rates and the Supply of Money 175
	Summary 178
	Review Questions 179
	References 179
 
9.  The Demand for Money	181
	Money Demanded for Transactions 182
	Money Demanded for Asset Purposes 185
	Money Demanded for Precautionary Purposes 187
	Total Money Demand 189
	Summary 191
	Review Questions 192
	References 192
 
10. Interest-Rate Equilibrium	194
	Monetary Equilibrium 200
	Interest and Income Equilibrium 208
	Simultaneous Equilibriums 210
	Interest-Rate Differences 214
	Summary 214
	Review Questions 215
	References 216
 
11. Aggregate Demand	218
	The Nature of Aggregate Demand 219
	Summary 227
	Review Questions 228
	References 228
	
12. Aggregate Supply	230
	Aggregate Supply Curves 231
	The Shape of Aggregate Supply Curves 238
	Summary 243
	Review Questions 244
	References 244
	
13. Macroeconomic Equilibrium	245
	An Economy in Equilibrium 246
	The Nature of Macroeconomic Equilibrium 247
	Prices and Money Wages Inflexible Downward 252
	The Reality of Wage and Price Flexibility 256
	Summary 258
	Review Questions 259
	References 259
 
14. Inflation and Unemployment	260
	Changes in Demand 261
	Productivity Increases 266
	Higher Production Costs 272
	Changes in the Supply of Labor 280
	Administered Prices 284
	Frictional Unemployment 290
	Structural Unemployment and Inflation 290
	Stabilization Efforts 292
	Summary 292
	Review Questions 294
	References 294
 
15. Income Fluctuations and Distribution	296
	Monetary Theories of Income Fluctuations 296
	Under investment and Over investment Theories 298
	Schumpeter and the Entrepreneurs 299
	The Principle of Acceleration 300
	The Accelerator-Multiplier Interaction 303
	The Distribution of Income 307
	Summary 314
	Review Questions 314
	References 315
	
16. Economic Growth	316
	The Sources of Growth in Production Capacity 317
	Can an Economy Continue to Grow? 319
	The Harrod-Domar Growth Theories 325
	Neoclassical Growth Theory 332
	Measures of Growth 335
	Government Policies to Promote Growth 339
	Summary 340
	Review Questions 342
	References 342
 
17. Stabilization Analysis	344
	The Phillips Analysis 344
	The Natural Rates 352
	Internal and External Stability 353
	The Theory of Stabilization Inflation and Unemployment 358
	Summary 363
	Review Questions 364
	References 364
 
18. Stabilization Policies	366
	Fiscal Policies 367
	Monetary Policies and the Monetarists 373
	Implementation of Policy 377
	Alternatives to Monetary and Fiscal Policies 383
	Monetary and Fiscal Reforms 386
	Summary 390
	Review Questions 392
	References 392
 
19. Classical Macroeconomics	395
	Purchasing 395
	Wages, Employment, and Production 401
	Prices: the Quantity of Money Theories 402
	A Classical Macroeconomic System 406
	Keynes' Criticism of Classical Macroeconomics 409
	The Keynes-Classical Differences 411
 
Summary 412
 
Review Questions 413
 
References 413