MACROECONOMICS

Williamson’s Macroeconomics uses a thoroughly modern approach that is consistent with the way that macroeconomic research is conducted today. Introduction; Measurement; Business Cycle Measurement; Consumer and Firm Behavior: The Work–Leisure Decision and Profit Maximization; A Closed-Economy One-Period Macroeconomic Model; Economic Growth: Malthus and Solow; Income Disparity Among Countries and Endogenous Growth; 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, Banking, Prices, and Monetary Policy; Market-Clearing Models of the Business Cycle; New Keynesian Economics: Sticky Prices; International Trade in Goods and Assets; Money in the Open Economy; Money, Inflation, and Banking; Unemployment: Search and Efficiency Wages; Inflation, the Phillips Curve, and Central Bank Commitment