Macroeconomics

Produktbeschreibung

This groundbreaking new core textbook encourages students to take a more critical approach to the prevalent assumptions around the subject of macroeconomics, by comparing and contrasting heterodox and orthodox approaches to theory and policy. The first such textbook to develop a heterodox model from the ground up, it is based on the principles of Modern Monetary Theory (MMT) as derived from the theories of Keynes, Kalecki, Veblen, Marx, and Minsky, amongst others. The internationally-respected author team offer appropriate fiscal and monetary policy recommendations, explaining how the poor economic performance of most of the wealthy capitalist countries over recent decades could have been avoided, and delivering a well-reasoned practical and philosophical argument for the heterodox MMT approach being advocated.

The book is suitable for both introductory and intermediate courses, offering a thorough overview of the basics, while covering everything needed for more advanced courses. Issues are explained conceptually, with the more technical, mathematical material in chapter appendices, offering greater flexibility of lecturer use. 

Inhaltsverzeichnis

PART A: INTRODUCTION & MEASUREMENT 1 Introduction 2 How to Think and Do
Macroeconomics 3 A Brief Overview of the Economic History and the Rise of
Capitalism 4 The System of National Income and Product Accounts 5 Labour Market
Concepts and Measurement 6 Sectoral Accounting and the Flow of Funds 7 Methods,
Tools and Techniques 8 Framing and Language in Macroeconomics PART B: CURRENCY,
MONEY & BANKING 9 Introduction to Sovereign Currency: The Government and its
Money 10 Money and Banking PART C: NATIONAL INCOME, OUTPUT AND EMPLOYMENT
DETERMINATION 11 The Classical System 12 Mr Keynes and the 'Classics' 13 The
Theory of Effective Demand 14 The Macroeconomic Demand for Labour 15 The
Aggregate Expenditure Model 16 Aggregate Supply PART D UNEMPLOYMENT AND
INFLATION: THEORY AND POLICY 17 Unemployment and Inflation 18 The Phillips Curve
and Beyond 19 Full Employment Policy PART E ECONOMIC POLICY IN AN OPEN ECONOMY
20 Introduction to Monetary and Fiscal Policy Operations 21 Fiscal Policy in
Sovereign Nations 22 Fiscal Space and Fiscal Sustainability 23 Monetary Policy
in Sovereign Nations 24 Policy in an Open Economy: Exchange Rates, Balance of
Payments and Competitiveness PART F ECONOMIC INSTABILITY 25 The Role of
Investment in Profit Generation 26 Stabilising the Unstable Economy PART G
HISTORY OF MACROECONOMIC THOUGHT 27 Overview of the History of Economic Thought
28 The IS-LM Framework 29 Modern Schools of Economic Thought 30 The New Monetary
Consensus in Macroeconomics PART H CONTEMPORARY DEBATES 31 Recent Policy Debates
32 Macroeconomics in the Light of the Global Financial Crisis 33 Macroeconomics
for the Future. 

Autoreninfo

William Mitchell is a Professor of Economics at the University of Newcastle, Australia.