Macroeconomics in Ecological Context

by Karl Seeley

Overview

Natural resources have been a recurring subject of public interest, from the environmental awakening in and the oil crises of the later 20^th century, to wide swings in oil prices and increased concern about climate change in the first decades of the 21^st century. Standard macroeconomics books treat resources in passing, in an ad hoc manner, if at all. This text integrates resources into the model from the ground up, allowing a more logically consistent understanding of the economic effects of changed resource availability. But the underlying structure remains mostly traditional: a full-employment perspective on the long run and a Keynesian approach to business-cycle fluctuations. This provides an easier adaptation for instructors and gives students the tools to understand economic analysis done in a more conventional framework. The business-cycle material starts with a “natural history” of money to help students see the connections between social and physical phenomena.

Product Details

ISBN-13:	9783319517551
Publisher:	Springer International Publishing
Publication date:	02/11/2017
Series:	Studies in Ecological Economics , #5
Edition description:	1st ed. 2017
Pages:	374
Product dimensions:	6.10(w) x 9.25(h) x (d)

Table of Contents

Part I Building Blocks.- 1. The Economy in the World.- 2. Resources and Economic Processes.- 3. Key Variables.- Part II The Long-run Model.- 4. Labor, Resources, and the Production Function.- 5. The Composition of Output.- 6. The Long-run Model (the Classical World). 7. Growth with Abundant Resources.- Part III Business Cycles.- 9. What Money Is.- 10 Banking .- 11 Expenditure Multipliers.- 12. Monetary Policy.- 13. Fiscal Policy.- 14. The IS and LM Curves.- 15. Policy and Shocks in the IS-LM World.- 16. Short-run Aggregate Supply / Aggregate Demand and Policy.- 17 Policy Assessment.- 18. The Standard Model and Alternative Perspectives.- 19. Resource Constraints.- 20. Growth under Resource Constraints.- 21. Business Cycles under Resource Constraints.- 22. Continuity and New Directions.