The Evolution of Macroeconomic Theory and Policy

You looking to find the "The Evolution of Macroeconomic Theory and Policy" Good news! You can purchase The Evolution of Macroeconomic Theory and Policy with secure price and compare to view update price on this product. And deals on this product is available only for limited time.

   

Product Description

The Great Depression of the 1930s gave birth to a branch of economics that in 1933 Ragnar Frisch christened macroeconomics. Over the decades that followed up to the present, the interactions of economic events, economic policy, and macroeconomic theory have created a fascinating story integral to the life and politics of national economies around the world. This book recounts that story. It brings together three strands of activities and trends: the economic events of the twentieth and twenty-first centuries that defined the economic problems facing the nation, policymakers, and economists; the responses of economists who brought the accumulated knowledge of the profession to bear on these problems; and the successes and failures of these policies as they reshaped the economic landscape and defined new sets of problems to be analyzed by macroeconomic theory. This highly readable book presents an unconventional perspective on macroeconomics � the interplay of theory and policy in a historical context.

</p>

The Evolution of Macroeconomic Theory and Policy Review

Recently, I have looked at at number of macroeconomics textbooks because I want to have a better grasp of what is going on in the field. Most people who write macroeconomics textbooks end up writing pretty much identical books. That is an interesting phenomena in itself, but primarily it is annoying. Such books makes it impossible to actually learn anything.

The current book is very different. It tries to teach concepts with an historical perspective, starting with the financial crash in 1929. So you get a running history while at the same time being introduced to various macroeconomics models and concepts. I like that you get the models introduced in the historical time when they became prominent, because it shows how much a work-in-progress macroeconomics is. Most models are introduced using simple algebra. I have previously studied economics so the book's format appealed to me. I do not think the format would work for somebody without any prior study of economics.

The book is fairly short and I would have liked the author to write a book double or triple the length. This would have made it possible to cover much more non-mainstream ideas, which I think could be very important going forward, and more of the historical complexity (especially international economics). But the book is decidedly still a macro textbook so we do not get this level of richness. Sadly, the language in the book is just as dry as most textbooks. It would also have been useful to have the charts updated through time, but this is a minor point. Two longer books that I think are better to understand macroeconomics are Competing Schools of Economic Thought and Modern Macroeconomics: Its Origins, Development And Current State.

I give the book three stars, which is not a bad rating. I have not come across any five star macroeconomics book yet (a very sad state of affairs). Three stars mean that this is a good book, but for a niche audience. If you belong to the niche (economic history and macroeconomic explanatory models), then you will evaluate the book higher.

Most of the consumer Reviews tell that the "The Evolution of Macroeconomic Theory and Policy" are high quality item. You can read each testimony from consumers to find out cons and pros from The Evolution of Macroeconomic Theory and Policy ...