Macroeconomics (Fifth Edition)

Author: Hall
Publisher:
Publication Date: 2005-04-01
Features: This book is very popular in the classroom, which is inseparable from its several important characteristics:
· It establishes a consistent, comprehensive working model that includes short-term fluctuations, price adjustments, and long-term growth.
· It provides an in-depth examination of how macroeconomics is implemented in real-world policy applications.
· To give readers a quantitative sense of the coefficients and to connect the textbook with the exercises at the end of each chapter, the numerical values of the coefficients in the complete model are consistent throughout.
· The model is accompanied by computer software, which allows for repeated demonstrations of the same complete model and various experiments.
· It first discusses the determinants of long-term growth before addressing fluctuations around the growth path.
· When explaining why the economy may deviate from the growth path in the short term, it treats the price level as a predetermined variable.
· The entire book examines the United States as an open economy, rather than only adding trade and exchange rates at the end of the book.
· It pays attention to the microfoundations of the various issues discussed.
· At the beginning of each chapter on microfoundations, it carefully explains the empirical regularities of the U.S. economy.
A summary of the book's teaching features is that both instructors and students who have used this book will find many of its teaching characteristics helpful in understanding the course content. While incorporating key new discoveries in macroeconomics, this book maintains the basic objectives of the th edition, capturing the essential content and spirit of modern macroeconomics in a way that a mid-level textbook can handle.
Features: Establishes a consistent, comprehensive working model that includes short-term fluctuations, price adjustments, and long-term growth; Conducts an in-depth examination of how macroeconomics is implemented in real-world policy applications; Treats the price level as a predetermined variable when explaining why the economy may deviate from the long-term path; Pays attention to the microfoundations of the various issues discussed.