Macroeconomics, 6th edition

  • Stephen D. Williamson


For courses in undergraduate Macroeconomics courses.


A modern approach to teaching macroeconomics                                                

Macroeconomics uses a thoroughly modern approach by building macroeconomic models from microeconomic principles. As such, it is consistent with the way that macroeconomic research is conducted today. This approach allows for deeper insights into economic growth processes and business cycles–the key topics in macroeconomics. An emphasis on microeconomic foundations better integrates the study of macroeconomics with approaches learned in microeconomics and field courses in economics. By following an approach to macroeconomics that is consistent with current macroeconomic research, you become better prepared for advanced study in economics.


The 6th Edition captures the latest developments in macroeconomic thinking, applied to recent economic events and developments in macroeconomic policy. With the financial crisis receding, new challenges that macroeconomists and policymakers currently need to address are covered in the text.



Table of contents

Part 1: Introduction and Measurement Issues

1. Introduction
2. Measurement
3. Business Cycle Measurement


Part 2: Basic Macroeconomic Models: A One-Period Model and Models of Search and Unemployment

4. Consumer and Firm Behavior: The Work–Leisure Decision and Profit Maximization                                                             

5. A Closed-Economy One-Period Macroeconomic Model                                                      

6. Search and Unemployment


Part 3: Economic Growth                                                                                      

7. Economic Growth: Malthus and Solow                                                       

8. Income Disparity Among Countries and Endogenous Growth  


Part 4: Savings, Investment, and Government                                                                                                                                                    

9. A Two-Period Model: The Consumption–Savings Decision and Credit Markets                                      

10. Credit Market Imperfections: Credit Frictions, Financial Crises, and Social Security                                          

11. A Real Intertemporal Model with Investment  


Part 5: Money and Business Cycles                                                                 

12. Money, Banking, Prices, and Monetary Policy                                                                           

13. Business Cycle Models with Flexible Prices and Wages                                                                                         

14. New Keynesian Economics: Sticky Prices                                                                    

15. Inflation: Phillips Curves and Neo-Fisherism                                                           


Part 6: International Macroeconomics                                                                                            

16. International Trade in Goods and Assets                                                                   

17. Money in the Open Economy                       


Part 7: Money, Inflation, and Banking                                                                                                                                   

18. Money, Inflation, and Banking: A Deeper Look


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Published by Pearson (January 5th 2017) - Copyright © 2018