Rethinking Macroeconomics: An introduction

Book Details:

• Author: John F. McDonald

• Brand: Routledge

• Edition: 1

• Binding: Paperback

• Pages: 182

• Release Date: 27-05-2016

• Part Number: 19 Line drawings, black and white; 14 Tables

• EAN: 9781138644069

• Package Dimensions: 9.1 x 6.2 x 0.6 inches

• Languages: English

About The Book:

"Rethinking Macroeconomics" by John F. McDonald introduces students to the contested world of macroeconomic theory. Aimed at undergraduate students who have had an introductory economics course, the book equips readers with the knowledge needed to understand the complex and often conflicting schools of thought that have emerged in response to significant economic events, especially following the Global Financial Crisis.

McDonald provides an accessible guide through the various approaches to the analysis of the macro economy of the U.S., focusing on historical episodes such as the Great Depression and the financial crisis of 2008. By exploring the key data for these critical events, the book helps students determine which analytical methods offer the best explanation of each.

The text covers the essential concepts of supply and demand, macroeconomic data, international trade, balance of payments, and money supply creation. McDonald encourages students to critically examine the established economic theories and evaluate them against real-world data.

Key Features:

• Exploration of Macro Schools of Thought: The book introduces the contesting schools of macroeconomic thought, particularly in light of the Global Financial Crisis.

• Historical Context: The text contextualizes macroeconomics through critical economic episodes, allowing students to understand the relevance of various economic theories.

• Critical Approach: McDonald challenges students to think critically about accepted economic wisdom and to assess different analytical methods through historical examples.

• Practical Understanding: The book uses real-world data and historical events to provide practical insights into macroeconomic concepts.

Why This Book is Important:

• Comprehensive Introduction: It offers a comprehensive understanding of the different approaches to macroeconomics, making it an ideal complement to traditional introductory texts.

• Historical Relevance: The book provides a deep dive into the history of macroeconomics, highlighting key events and developments since World War I, making it a valuable resource for students and scholars alike.

• Critical Thinking Encouraged: McDonald’s emphasis on questioning received wisdom encourages students to develop a critical understanding of macroeconomic theories and their practical application.

"Rethinking Macroeconomics" is a must-read for students who wish to deepen their understanding of macroeconomic theory, especially those interested in the historical and critical analysis of the field.