Macroeconomics

Fülszöveg

MACROECONOMICS
THEORY, PERFORMANCE, AND POLICY SECOND EDITION
Robert E. Hall and John B. Taylor
both of Stanford University
Teachers at nearly 250 colleges and universities adopted the first edition of this text. In doing so they propelled Hall and Taylors Macroeconomics within reach of the leading books in its market. The text brought the major concerns of the 1980s—theoretical work into the microeconomic foundations of macroeconomics and the new reality of macroeconomic policy in an open economy—into the intermediate course. While doing so, it employed an analytic framework that could describe the accelerating inflation of the 1970s as easily as it could explain demand disturbances. No longer is there a need to switch midstride to an aggregate supply model, as other books do.
Now poised for the 1990s, Hall and Taylor's Macroeconomics, Second Edition, builds on these strengths as it advances its pedagogy. Computer software developed in the course at Stanford University,... Tovább

Fülszöveg

MACROECONOMICS
THEORY, PERFORMANCE, AND POLICY SECOND EDITION
Robert E. Hall and John B. Taylor
both of Stanford University
Teachers at nearly 250 colleges and universities adopted the first edition of this text. In doing so they propelled Hall and Taylors Macroeconomics within reach of the leading books in its market. The text brought the major concerns of the 1980s—theoretical work into the microeconomic foundations of macroeconomics and the new reality of macroeconomic policy in an open economy—into the intermediate course. While doing so, it employed an analytic framework that could describe the accelerating inflation of the 1970s as easily as it could explain demand disturbances. No longer is there a need to switch midstride to an aggregate supply model, as other books do.
Now poised for the 1990s, Hall and Taylor's Macroeconomics, Second Edition, builds on these strengths as it advances its pedagogy. Computer software developed in the course at Stanford University, called MacroSolve, now allows easy experimentation with the Hall and Taylor model. No other software matches MacroSolve's simplicity of use and ability faithfully to reproduce the textbook analysis. It frees the student from the laborious calculations of the macro model and permits more time to consider the analysis.
Major Advantages
1. The Model. Professors Hall and Taylor employ a dynamic IS-LM model that can analyze an inflationary environment as well as it can one with fixed prices. Their model offers an enormous pedagogical payoff: students grow confident that they can use this model to think through any macroeconomic issue they may encounter—in the classroom and beyond.
2. Early Introduction to the Open Economy. From the earliest analytic steps in Chapter 4, Professors Hall and Taylor incorporate international factors. No longer is the open economy the appendage it has been with other books. Vissza