Macroeconomics (Second Edition)

Author: Liu Xiuguang (Compiler)
Publisher:
Publish Date: 2005-01-01
Features: The fundamental feature of this book is to highlight the "orderliness" and "symmetry" inherent in the basic categories and principles of economics. Economic life is not chaotic but follows certain patterns and rules, and the orderliness and symmetry of economics' basic categories and principles are reflections of these patterns and rules in economic life. In terms of orderliness, supply and demand form the foundation of all economics, and the book expands on microeconomic analysis of consumers, producers, costs, income, markets, etc., as well as macroeconomic analysis of aggregate supply and demand, national output, money and banking, product and money markets, fiscal and monetary policies, unemployment and inflation, etc. From the perspective of symmetry, there are both microeconomic and macroeconomic issues in economics; the budget line and indifference curve are used to analyze consumer and producer equilibrium, the peak of the business cycle corresponds to its trough, and measures to combat inflation often lead to deflation, and so on. There are also statements such as "Aggregate demand and aggregate supply are the two blades of a pair of scissors, and the level of output and employment is jointly determined by these two blades" (Samuelson); the unemployment rate and inflation rate together constitute the social pain index; fiscal and monetary policies are the indispensable two major tools for stabilizing the economy; only when countries have trade and financial relations can there be international economics, i.e., an open macroeconomic model, and so on. This is an introductory economics book. In its narrative approach, the book strives to minimize cumbersome derivations and deductions, instead presenting complex and profound theories of economics in an accessible manner, aiming to provide readers who wish to enter the of economics with a pathway.