Modern Western Economics

Author: Song Chengxian
Publisher:
Publish Date: 2004-09-01
Features: After World War II, Western economists gradually divided political economy (theoretical economy) into two main parts: microeconomics and macroeconomics. Macroeconomics examines the economic operation of an entire society, differing from microeconomics, which focuses on the behavior of individual economic entities. This book is the macroeconomics section of our press's Modern Western Economics, comprising six parts and twenty-two chapters, including basic concepts and measurement in macroeconomics, static equilibrium models of national income determination, monetary theory and monetary policy, post-Keynesian macroeconomics, dynamic economics, and international economics. This third edition was completed by Dr. Xu Qiang, a disciple of Professor Song Chengxian, who currently serves as the Chief Econometrician of New York State, Director of Research at the New York State Budget Department, and a professor at the State University of New York. In addition to textual and scientific proofreading throughout the book, the third edition includes the addition of Section 7, "Real National Output—Chain Weights," in Chapter 2 and the inclusion of "Rules and Discretionary Monetary Policy" in Chapter 13. Other chapters have been rewritten to adapt to the evolving and improving teaching needs.