Author Description

Macroeconomics is widely praised for its ability to present theory as a way of evaluating key macro questions, such as why some countries are rich and others are poor. Gordon makes extensive use of data, international examples, and case studies throughout, and the Eleventh Edition incorporates critical developments in the field. New topics include the housing bubble and the role of housing wealth, the economic progress of China, recent discussions of growth theory, and the effect of oil prices on the economy. Introduction and What Is Macroeconomics?; The Measurement of Income, Prices, and Unemployment. Income, Interest Rates, Policy, and the Open Spending, Income, and Interest Rates; Monetary and Fiscal Policy in the IS-LM Model; National Saving, the Government Budget, Foreign Borrowing, and the Twin Deficits; International Trade, Exchange Rates, and Macroeconomic Policy. Aggregate Demand, Aggregate Supply, Unemployment and Aggregate Demand, Aggregate Supply, and the Self-Correcting Economy; Its Causes and Cures; The Goals of Stabilization Low Inflation and Low Unemployment. Macroeconomics in the Long Growth and Public The Theory of Economic Growth; The Big Questions of Economic Growth; The Government Budget, the Public Debt, and Social Security. Stabilization Policy in an Open Money and Financial Markets; Stabilization Policy in the Closed and Open Economy. Stability and Instability in the Private The Economics of Consumption Behavior; The Economics of Investment Behavior. Debatesat the Macroeconomic New Classical Macro Confronts New Keynesian Macro; Where We Stand. For all readers interested in macroeconomics.