Modern Western Economics -- Macroeconomics (Third Edition)

Author: Song Chengxian, Xu Qiang
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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 a society as a whole, 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, consisting of six parts and twenty-two chapters, covering 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 has been completed by Dr. Xu Qiang, a disciple of Professor Song Chengxian, who is currently 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 revisions throughout the book, this edition has added a new section "Real National Output—Chain Weights" in Chapter 2 and "Rules and Discretionary Monetary Policy" in Chapter 13. Some chapters have also been rewritten to meet the evolving needs of teaching.