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Research in macroeconomics in the last thirty years has featured, almost exclusively on two characteristics: an emphasis on the microfoundations of macroeconomics and secondly, intertemporal economics, that is, the behavior of economic actors over time. Curiously, textbooks in intermediate macroeconomics have been very slow to adopt these traits. The aim of this book is to bring intermediate instruction in macroeconomics fully into line with the direction taken by the research community. Key hallmarks of the text include:•a full introduction to the microfoundations of consumption and investment•a complete model of the labor market with profit maximization for firms to determine labor demand and a utility maximization model to determine labor supply•an analysis of the Baumol-Tobin model to determine money demand accompanied by a discussion of traditional money supply. Possessing a full range of additional learning features including a companion website, test bank and instructor's manual, the book takes an international view of macroeconomics with case studies and examples from the United States and beyond.

Introduction to economics -- The principles and practice of economics -- Economic methods and economic questions -- Optimization : doing the best you can -- Demand, supply, and equilibrium -- Introduction to macroeconomics -- The wealth of nations : defining and measuring macroeconomic aggregates -- Aggregate incomes -- Long-run growth and development -- Economic growth -- Why isn't the whole world developed -- Equilibrium in the macroeconomy -- Employment and unemployment -- Credit markets -- The monetary system -- Short-run fluctuations and macroeconomic policy -- Short-run fluctuations -- Countercyclical macroeconomic policy -- Macroeconomics in a global economy -- Macroeconomics and international trade -- Open economy macroeconomics -- Chapters on the web

"Charles Jones's Macroeconomics teaches students to think like modern macroeconomists, with strong and engaging growth coverage and a more intuitive approach to models. Praised by adopters for its clear explanations, flexible organization, timely case studies, data, and emphasis on problem solving, Macroeconomics gives students the practical tools they need to understand and analyze the macroeconomy. This innovative text makes macroeconomics less complicated without sacrificing rigor"--

Introduction to economics -- The principles and practice of economics -- Economic methods and economic questions -- Optimization : doing the best you can -- Demand, supply, and equilibrium -- Introduction to macroeconomics -- The wealth of nations : defining and measuring macroeconomic aggregates -- Aggregate incomes -- Long-run growth and development -- Economic growth -- Why isn't the whole world developed -- Equilibrium in the macroeconomy -- Employment and unemployment -- Credit markets -- The monetary system -- Short-run fluctuations and macroeconomic policy -- Short-run fluctuations -- Countercyclical macroeconomic policy -- Macroeconomics in a global economy -- Macroeconomics and international trade -- Open economy macroeconomics -- Chapters on the web

Introduction to economics -- The principles and practice of economics -- Economic methods and economic questions -- Optimization : doing the best you can -- Demand, supply, and equilibrium -- Introduction to macroeconomics -- The wealth of nations : defining and measuring macroeconomic aggregates -- Aggregate incomes -- Long-run growth and development -- Economic growth -- Why isn't the whole world developed -- Equilibrium in the macroeconomy -- Employment and unemployment -- Credit markets -- The monetary system -- Short-run fluctuations and macroeconomic policy -- Short-run fluctuations -- Countercyclical macroeconomic policy -- Macroeconomics in a global economy -- Macroeconomics and international trade -- Open economy macroeconomics -- Chapters on the web

"Charles Jones's Macroeconomics teaches students to think like modern macroeconomists, with strong and engaging growth coverage and a more intuitive approach to models. Praised by adopters for its clear explanations, flexible organization, timely case studies, data, and emphasis on problem solving, Macroeconomics gives students the practical tools they need to understand and analyze the macroeconomy. This innovative text makes macroeconomics less complicated without sacrificing rigor"--

A tour of the world -- A tour of the book -- The goods market -- Financial markets I -- Goods and financial markets : the IS-LM model -- Financial markets II: the extended S-LM model -- The labor market -- The phillips curve, the natural rate of unemployment, and inflation -- From the short to the medium run : the IS-LM-PC model -- The facts of growth -- Saving, capital accumulation,and output -- Technological progress and growth -- Technological progress : the short, the medium, and the long run -- Expectations -- Financial markets and expectations -- Expectations, consumption, and investment -- Expectations, output, and policy -- Openness in goods and financial markets -- The goods market in an open economy -- Output, the interest rate, and the exchange rate -- Exchange rate regimes -- Should policy makers be restrained? -- Fiscal policy : a summing up -- Monetary policy : a summing up -- Epilogue: the story of macroeconomics.

Introduction -- Economics : foundations and models -- Trade-offs, comparative advantage, and the market system -- Where prices come from : the interaction of demand and supply -- Economic efficiency, government price setting, and taxes -- The economics of health care -- Firms in the domestic and international economies -- Firms, the stock market, and corporate governance -- Comparative advantage and the gains from international trade -- Macroeconomic foundations and long-run growth -- Gdp : measuring total production and income -- Unemployment and inflation -- Economic growth, the financial system, and business cycles -- Long-run growth: sources & policies -- Short-run fluctuations -- Aggregate expenditure and output in the short run -- Aggregate demand and aggregate supply analysis -- Monetary and fiscal policy -- Money, banks, and the federal reserve system -- Monetary policy -- Fiscal policy -- Inflation,unemployment, and federalreservepolicy -- The international economy -- Macroeconomics in an open economy -- The international financial system -- Woods system -- Glossary -- Index

Introduction and measurement issues -- Introduction -- Measurement -- Business cycle measurement -- Basic macroeconomic models : a one-period model and models of search and unemployment -- Consumer and firm behavior : the work-leisure decision and profit maximization -- A closed-economy one-period macroeconomic model -- Search and unemployment -- Economic growth -- Economic growth : malthus and solow -- Income disparity among countries and endogenous growth -- Savings, investment, and government deficits -- A two-period model : the consumption-savings decision and credit markets -- Credit market imperfections : credit frictions, financial crises, and social security -- A real intertemporal model with investment -- Money and business cycles -- Money, banking, prices, and monetary policy -- Business cycle models with flexible prices and wages -- New keynesian economics : sticky prices -- Inflation : phillips curves and neo-fisherism -- International macroeconomics -- International trade in goods and assets -- Money in the open economy -- Money, banking, and inflation -- Money, inflation, and banking : a deeper look -- Index

"Macroeconomics is the study of the economic attributes (including the performance, structure, behavior, and decision-making) of whole systems. Macroeconomists study changes in the aggregate, collecting data on unemployment, growth, inflation, income, saving and spending, trade, and other aspects of regional, national, and international economic life. Policymakers depend on macroeconomists' knowledge of the main elements and basic forces that govern each country's economy and the global economy when making decisions about taxes, industry regulations, trade terms and policies, and more. These decisions in turn affect decisions made by individuals and businesses, especially in a globalized world. This entry into the Essential Knowledge series covers such topics as GDP and its relation to the welfare of people; why some countries grow strongly while others stagnate; the challenges of the labor market in the twenty-first century; the money market and the inflation rate; the implications of having different exchange rate systems -fixed, pegged, bands, floats; household consumption and savings decisions; investment decisions; the current account of the balance of payments; government budgets, taxes and fiscal policy; and the debate on globalization. The book addresses the causes and consequences of recent economic crises like the subprime crisis and Euro crisis. This book draws on examples from economies around the world. Given the author's professional experience as minister of finance for Chile, many examples are drawn from Latin America, but also Asia, Africa, Europe, and the United States"--