Abel, Bernanke, and Croushore present macroeconomic theory in a way that prepares readers to analyze real macroeconomic data used by policy makers and researchers. This text uses a unified approach based on a single economics model that provides readers with a clear understanding of macroeconomics and its classical and Keynesian assumptions.
Introduction: Introduction to Macroeconomics; The Measurement and Structure of the National Economy. Long-Run Economic Performance: Productivity, Output, and Employment; Consumption, Saving, and Investment; Saving and Investment in the Open Economy; Long-Run Economic Growth; The Asset Market, Money, and Prices. Business Cycles and Macroeconomic Policy: Business Cycles; The IS-LM/AD-AS Model: A General Framework for Macroeconomic Analysis; Classical Business Cycle Analysis: Market-Clearing Macroeconomics; Keynesianism: The Macroeconomics of Wage and Price Rigidity. Macroeconomic Policy: Its Environment and Institutions: Unemployment and Inflation; Exchange Rates, Business Cycles, and Macroeconomic Policy in the Open Economy; Monetary Policy and the Federal Reserve System; Government Spending and Its Financing.
For all readers interested in intermediate macroeconomics.
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Andrew B. Abel is the Ronald A. Rosenfeld Professor of Finance at the Wharton School and professor of economics at the University of Pennsylvania. He received his AB summa cum laude from Princeton University and holds a PhD from the Massachusetts Institute of Technology. Abel has published extensively on fiscal policy, capital formation, monetary policy, asset pricing, and social security–as well as serving on the editorial boards of numerous journals. He has been honored as the Alfred P. Sloan Fellow, a Fellow of the Econometric Society, and a recipient of the John Kenneth Galbraith Award for teaching excellence. He is a Research Associate of the National Bureau of Economic Research and a member of the Advisory Board of the Carnegie-Rochester Conference Series.
Ben S. Bernanke Previously the Howard Harrison and Gabrielle Snyder Beck Professor of Economics and Public Affairs at Princeton University, Ben Bernanke received both the Allyn Young Prize for best Harvard undergraduate economics thesis and the John H. Williams prize for outstanding senior in the economics department. He went on to earn his PhD from the Massachusetts Institute of Technology, and he has been honored as a Research Associate of the National Bureau of Economic Research. Currently, he is Chairman and a member of the Board of Governors of the Federal Reserve System.
Dean Croushore is an associate professor of economics and Rigsby Fellow at the University of Richmond. Croushore served for fourteen years at the Federal Reserve Bank of Philadelphia, twelve of which as the head of the macroeconomics section. He has taught previously at Penn State University, Temple University, the Wharton School of the University of Pennsylvania, Johns Hopkins University, and Princeton University.
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