Macroeconomics / Edition 1

Macroeconomics / Edition 1

by Roger E. A. Farmer
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International Thomson Publishing Company


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Macroeconomics 4 out of 5 based on 0 ratings. 1 reviews.
Guest More than 1 year ago
There is a inherent problem in writing an Intermediate Textbook in Macroeconomics. In the typical Intermediate Course in a specialty of Economics the objectives are to present a guide to the important insights used by practioners that also gives a nontechnical overview of the state of the literature of the subject. Until relatively recently the Economics of Greenspan and forecasters/practioners and the Economics of the published literaure in Macro were not in the same page or even the same world. Progress in making stylized macro models realistic and the increasing interest by practioners in growth economics have narrowed the gap. Farmer's second edition, reflecting some of his own work, narrows the gap. The major shortcoming of his book is that he fails to recognize the gaps--which are still substantial. One needs a good Microeconomic background and some facility in Calculus to work through this text. Of all the major texts this book does the best, given a very knowledgeable professor and well prepared students. Most of his competitors are either excessively long-winded and/or lack basic knowledge about the real macroeconomy.