Modern Western Economics (Macroeconomics)

Author: Song Chengxian et al.
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 overall economic operation of a 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, covering fundamental 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 revisions throughout the book, this edition includes the addition of Section 7 "Real National Output—Chain Weights" in Chapter 2 and "Rules and Discretionary Monetary Policy" in Chapter 13. Other chapters have been rewritten to adapt to the evolving and improving teaching needs.