Macroeconomics is an economics textbook for the students of M.Com written by Rudiger Dornbusch and Stanley Fischer.
Summary Of The Book
The authors in this edition have retained the balanced approach of the original edition of the book. They are keener on informing students about the established and the useful instead of the esoteric and speculative. Moreover, the authors do reflect the ever changing tone keeping in mind the changes that have taken place in the last decades in accordance with macroeconomics events and its research area. Also, in this edition the authors have deliberately cut down the content of the book and reduced it to one fourth of the original text.
The book Macroeconomics is divided into four parts. The First part introduces the reader to the economy. In this section, the author explores several facts and the first models of the economy. The topics covered in this section include International Linkages, National Income Accounting, Monetary and Fiscal Policy, Income and Spending, and Money, Interest and Income.
The Second part of the book deals with Aggregate Demand, Supply, and Growth. Herein, the author provides a basic introduction of aggregate demand and supply. Along with that this includes in-depth information on Long-Term Growth and Productivity, The Ration Expectations Equilibrium Approach, and Wages, Prices, and Employment of Aggregate Supply.
Behavioral Foundations form the core subject issue of the third part of the book. In this section, the students will get to know about Investment Spending, Consumption and Saving, the Demand for Money, Prospects and Problems of Stabilization Policy, and the Fed, Money, and Credit. Finally, the Last section is devoted to Inflation, Unemployment, Budget Deficits, and International Adjustment. This one offers comprehensive coverage of the dynamics of Inflation and Unemployment, International Adjustment and Interdependence, the Tradeoffs between Inflation and Unemployment, Budget Deficits and the Public Department, and Money, Deficits and inflation: Evidence and Policy issues.
About The Authors
Rudiger Dornbusch was an award-winning famous German economist.
He authored several books including International Economic Policy, Open Economy Macroeconomics, Financial Policies And The World Capital Market, Public Debt Management, and Stopping High Inflation etc.
Born on 8th June 1942 in Krefeld, he completed his studies from University of Geneva. Later, he attended University of Chicago to complete his Ph.D. in Economics. He has worked with different universities such as University of Rochester, University of Chicago, and MIT. He worked with MIT until his death in 2002.
Stanley Fischer is the Governor of the Bank of Israel and known as a famous American-Israeli economist.
He has authored several books including Lectures On Macroeconomics, The Economics of Middle East Peace: Views From The Region, Indexing, Inflation, and Economic Policy, and Economics etc.
Born on October 15, 1943 in Zambia, he studied economics at the London School of Economics. After completing Ph.D. in economics from MIT, he joined the University of Chicago as an associate professor. He has worked with leading organizations such as Bank of Israel, World Bank, International Monetary Fund, and Citigroup. He lives with his wife and three children in Israel.
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MacroEconomics FOR EXAMS
6 Oct, 2013
Nishant Kumar Bharti
13 May, 2017
Best book for Macroeconomy basics
26 Sep, 2014