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Macroeconomics: Understanding the Wealth of Nations, 2nd Edition

ISBN: 978-0-470-01243-7
632 pages
January 2005, ©2005
Macroeconomics: Understanding the Wealth of Nations, 2nd Edition (0470012439) cover image


In the Second Edition of Macroeconomics: Understanding the Wealth of Nations the authors deal with sophisticated issues using advanced economic theory, but in a manner that is accessible to someone who is new to the field. They begin by taking real-world economic issues and describing why they matter, and then use this focus on detail as an entry point into the world of theory. Readers will thus emerge with a better understanding of the global economy and how economists think about it.
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Table of Contents


1. What is Macroeconomics?

2.  The Language of Macroeconomics: The National Income Accounts.

Economic Growth and the Supply side.

3.  The Wealth of Nations - the Supply Side.

4. Capital Accumulation and Economic Growth.

5. Total Factor Productivity, Human Capital, and Technology.

6.  Endogenous Growth and Convergence.

7.  Unemployment and the Labor Market.

8.  International Trade.

9.  Globalization.

Money and Taxes.

10.  Fiscal Policy and the Role of Government.

11.  Money and Prices.

Business Cycles and Economic Policy.

12.  Consumption.

13.  Investment.

14. Business Cycles.

15.  Monetary Policy.

16.  Stabilization Policy.

Asset Markets and Financial Sector.

17.  Equity Markets.

18.  The Bond Market.

Exchange Rates and Global Capital Markets.

19.  Exchange Rate Determination I  - The Real Exchange Rate.

20.  Exchange Rate Determinatin II - Nomial Exchange Rates and Asset Markets.

21.  Currency Crises and Exchange Rate Systems.

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New to This Edition

  • Presents the latest economic research on topical policy issues (including coverage of the role of institutions in growth), recent policy debates (for example, independent fiscal policy and fiscal rules), and new results on exchange rates.
  • Includes a new chapter on globalization (Chapter Nine).
  • Covers the IS-LM model.
  • Features new sections on recent economic developments, such as recession and recovery in the U.S., the Argentinean collapse, problems with the WTO and Doha Development Round, and more.
  • Updated charts and tables, which include the very latest available economic data.
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The Wiley Advantage

  • Offers a unique blend of international perspective, technical detail, and real-world examples.
  • Presents a wide range of topics using extensive current and historical data.
  • Focuses on the international economy with an extensive analysis of exchange rates and global capital markets.
  • This text is particularly suited to MBA students, business majors, and more generally to those who want to understand macroeconomics, but are not aiming to become specialists.

Management Today, December 2001
"..a much needed textbook to help them stay interested...a great way to get serious about economics without losing yourself in equations.." 

Economic Outlook and Business Review, Issue 17, Vol 1, March 2002
"..an original and interesting macroeconomics text. It is a self-contained volume which any student and teacher of economics within the higher education sector will find extremely useful..."

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