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Offering a uniquely modern presentation of macroeconomics, this brand-new text makes it easy for instructors to emphasize a solid microfoundations, real-business cycle approach. In the all-new MACROECONOMICS: A MODERN APPROACH, leading economist and proven author Robert J. Barro couples his extraordinary command of growth, equilibrium, and business cycles with a focus on microfoundations to create a groundbreaking new macroeconomics textbook steeped in real-world application. Accessibly written and extremely student friendly, the book is packed with current policy and data examples, reflecting the author's extensive research in the field. The book also includes captivating boxed features, challenging exercises, and innovative online resources like CengageNOW, which enables students to create personalized learning paths and equips instructors with tools to easily assign, grade, and record homework and quizzes. Covering growth theory more completely than any other text, MACROECONOMICS delivers a unified model of macroeconomics that serves well for economics majors and nonmajors alike.
Born in New York City, Robert Barro moved to Los Angeles, where he studied undergraduate physics at Caltech, including classes from the famous Richard Feynman. He changed his focus to economics for graduate school at Harvard University. Dr. Barro returned to Harvard as a professor in 1987. He recently served as president of the Western Economic Association and vice president of the American Economic Association. In addition to academic research, Professor Barro is an accomplished writer for the popular press. He worked as a viewpoint columnist for BUSINESSWEEK from 1998 to 2006 and contributing editor of THE WALL STREET JOURNAL from 1991 to 1998.
Part I. INTRODUCTION. 1. Thinking about Macroeconomics. 2. National-Income Accounting: Gross Domestic Product and the Price Level. Part II. ECONOMIC GROWTH. 3. Introduction to Economic Growth. 4. Working with the Solow Growth Model. 5. Conditional Convergence and Long-Run Economic Growth. Part III. ECONOMIC FLUCTUATIONS. 6. Markets, Prices, Supply, and Demand. 7. Consumption, Saving, and Investment. 8. An Equilibrium Business-Cycle Model. 9. Capital Utilization and Unemployment. Part IV. MONEY AND PRICES. 10. The Demand for Money and the Price Level. 11. Inflation, Money Growth, and Interest Rates. Part V. THE GOVERNMENT SECTOR. 12. Government Expenditure. 13. Taxes. 14. The Public Debt. Part VI. MONEY AND BUSINESS CYCLES. 15. Money and Business Cycles I: the Price-Misperceptions Model. 16. Money and Business Cycles II: Sticky Prices and Nominal Wage Rates. Part VII. INTERNATIONAL MACROECONOMICS. 17. World Markets in Goods and Credit. 18. Exchange Rates. Bibliography. Glossary. Index.