This comprehensive textbook deals with multidimensional aspects of macroeconomics through lucid presentation of concepts and critical comparison of different schools of thought.
The book explains how the incomes of a country, prices of goods and services, level of employment, interest rates and so on are determined and how an economy progresses. It attempts to re-establish the existing theories behind the determination of macro variables and the growth process of an economy. In the process, it captures the significance of the debate between the classical orthodox theories and Keynesian modernism and its implications.
Besides, adhering to traditional aspects, the volume also focuses on recent developments such as green macroeconomics. Undergraduate and postgraduate students of economics and business economics will find this book immensely helpful.
This comprehensive textbook deals with multidimensional aspects of macroeconomics through lucid presentation of concepts and critical comparison of different schools of thoughts. It explains how the incomes of a country, prices of goods and services, level of employment, interest rates and so on are determined and how an economy progresses.
Part I: Macroeconomics- Objectives, Instruments, Concepts and Phases of
Developments
1. Why to study macroeconomics and what are its objectives?
2.
National Income Accounting Part II: Classical School of Thought-The Long Run
Supply Side Model
3. Classical model
4. Money, quantity theory and price
level
5. Theory of inflation Part III: Modern Macroeconomics-The Keynesian
Short Run Demand Side Models
6. The Simple Two Sector Economy-Simple
Keynesian Model without Government-Model I
7. Introduction of Government
Sector into the Simple Keynesian Model- Model II
8. Product Market
Equilibrium- Model III
9. Money Market Equilibrium -Model IV
10. Interactions
of Fiscal and Monetary Policies in IS-LM Models- Model V
11. Aggregate Demand
and Aggregate Supply Analysis
12. Aggregate Supply, Inflation and Phillips
Curve
13. The Complete Keynesian Model (CKM) Part IV: Micro Foundations of
Macroeconomics-The Consumption and Investment Behaviours
14. Consumption
function
15. Investment behaviour
16. Demand for money
17. Theory of money
supply
18. Schools of thoughts in macroeconomics Part V: Open Economy
Macroeconomics
19. Open Economy MacroeconomicsConcepts and Applications
20.
Accounting of International LinkagesThe Balance of Payments
21. Interactions
among Commodity Market, Money Market and External Market Part VI: Economics
of Growth and Convergence-The Longer Run Models
22. Theories of Economic
Growth-Classical, Harrod and Domar
23. The Neoclassical Growth Model
24.
Endogenous Growth Theories-The Modern Growth Approach Part VII: Sustainable
Development and Green Macroeconomics
25. Sustainable development
26.
Ecological macroeconomics
Dibyendu Banerjee is currently Associate Professor of Economics at Serampore College, West Bengal, India; with 21 years of teaching and research experience in various fields of the subject. He completed his Bachelor (Hons.) of economics at R. K. Mission, Narendrapur, West Bengal; and his masters degree at University of Calcutta. He obtained his doctorate from the same university, working under the supervision of Professor Sarbajit Chaudhuri. He started his career as a lecturer in economics at A. K. P. C. Mahavidyalaya, Hooghly. Dr. Banerjee, with his specialisation in advanced economic theory, has contributed several research papers to many renowned national and international journals such as Research in Economics, Economic Modelling, International Review of Economics, and Finance. He has coauthored a textbook titled Macroeconomics: From Short Run to Long Run. His current research interests include labour economics, development economics, competitive general equilibrium models, and applied microeconomics.
Ramesh Chandra Das is currently Professor at the Department of Economics of Vidyasagar University in the state of West Bengal, India. He has obtained his masters, M. Phil, and PhD degrees in economics from the University of Calcutta. Prof. Das has the teaching and research experience of about 25 years to his credit. His main areas of research lie in theoretical and applied macroeconomics, financial economics, environmental economics and political economics. He has contributed more than 100 research papers to national and international journals and books along with more than a dozen edited volumes in different areas of the subject. Besides, he has written text and reference books on microeconomics, macroeconomics, and banking economics with internationally reputed publishers for different fields of readers and academicians and has been acting as the editor-in-chief of a couple of refereed journals.
