Modern Macroeconomics, by Max Gillman, takes a new and modern approach to macroeconomic theory using microeconomic foundations. Building from the standard neo-classical models, Gillman has developed a new dynamic model which works to explain business cycles and unemployment, why you can have a banking lead recession as well as fiscal and monetary policy.
Although strong in mathematical rigour all calculations in this text are fully derived and graphs provide a direct representation making it accessible.
This text is suitable for undergraduate students studying Advanced Macroeconomics courses.
Preface
Acknowledgements
Part 1
MICROFOUNDATIONS OF MACROECONOMICS
1 Overview of the book
Part 2
LABOUR AND GOODS MARKETS
2 Labour, leisure and productivity
3 Employment cycles and taxes
4 Trade in labour and goods markets
Part 3
CAPITAL AND GOODS MARKETS
5 Savings and investment
6 Capital policy and business cycles
7 Trade in physical capital markets
Part 4
MODERN AS-AD
8 Dynamic analysis and AS-AD
9 Employment
10 Dynamic AS-AD solution methodology
Part 5
GROWTH, HUMAN CAPITAL AND BUSINESS CYCLES
11 Exogenous growth
12 Human capital and endogenous growth
13 Explaining cycles and trends
14 International trade
Part 6
RISK, BANKING AND ASSETS
15 Incomplete markets and banking
16 Investment and banking productivity
17 Asset prices and finance
Part 7
FISCAL AND MONETARY POLICY
18 Public finance
19 Taxes and growth
20 Monetary theory and policy
Index
