This book provides a non-mathematical introduction to the macroeconomic analysis of both the open economy and the world economy. While it presumes some basic understanding of macroeconomics, it does not require any significant mathematical capability. The first part examines the macro theory of the open economy; the second part examines macroeconomic stabilization policy in the context of an open economy and the world economy; and the third part looks at various case studies or applications of the analysis introduced in the first two parts. It is suitable for first- or second-year undergraduates as well as being of interest to policy-makers.…mehr
This book provides a non-mathematical introduction to the macroeconomic analysis of both the open economy and the world economy. While it presumes some basic understanding of macroeconomics, it does not require any significant mathematical capability. The first part examines the macro theory of the open economy; the second part examines macroeconomic stabilization policy in the context of an open economy and the world economy; and the third part looks at various case studies or applications of the analysis introduced in the first two parts. It is suitable for first- or second-year undergraduates as well as being of interest to policy-makers.
Preface and Acknowledgements - Introduction - PART I:THEORY- An Open-Economy Macroeconomic Model - Trade Functions and Capital Movements - Balance of Payments Theory - Theories of Exchange-Rate Determination - PART II: POLICY - Stabilisation Policy in an Open Economy - Exchange-Rate Management and Policy - Global Macroeconomic Management - PART III: APPLICATIONS - United States Domestic Macroeconomic Policies, Dollar Overvaluation, and Their Effects on the US Economy and the Rest of the World - The International Monetary Fund and Stabilisation Policy in Small Open Economies - The European Monetary System and the United Kingdom - The Global Macroeconomic Effects of Changing Oil Prices - Notes and References - Further Reading - Index
Preface and Acknowledgements - Introduction - PART I:THEORY- An Open-Economy Macroeconomic Model - Trade Functions and Capital Movements - Balance of Payments Theory - Theories of Exchange-Rate Determination - PART II: POLICY - Stabilisation Policy in an Open Economy - Exchange-Rate Management and Policy - Global Macroeconomic Management - PART III: APPLICATIONS - United States Domestic Macroeconomic Policies, Dollar Overvaluation, and Their Effects on the US Economy and the Rest of the World - The International Monetary Fund and Stabilisation Policy in Small Open Economies - The European Monetary System and the United Kingdom - The Global Macroeconomic Effects of Changing Oil Prices - Notes and References - Further Reading - Index
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