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This book presents all the key topics in intermediate-level macro-economic theory, using simplest mathematical models possible, and highlights the casual linkages of economic theory. The discussion opens the possibility that the standard models are incomplete, challenging students to form their own opinions about, for example, the existence of a unique natural rate of unemployment.
The key chapter on inflation focuses on the relationship between inflation and unemploy-ment, which makes the treatment of monetary policy more realistic and modern. Other chapters explore the open economy under fixed and floating exchange rates, the classical growth model, and the Solow-Swan growth model. Classroom-tested problems and a mathematical appendix supple-ment the chapters.
Graduate students as well as those teaching macroeconomics should find this book highly useful since the basic models developed here are indispensable.ISBN 9788120324466
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Pages : 284
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