Macroeconomics

A major goal in writing this textbook is to provide one that is comprehensive yet flexible enough to allow teachers to focus a class on their particular interests and time constraints. Our personal preference is to begin at the beginning and work through the entire book (which is, of course, why we organized the material in the way we did),but a number of approaches can be taken to give a different emphasis or simply to reduce the breadth of material covered. Key Features Coverage of core topics in microeconomics. In-depth coverage of many topics from current microeconomics research. Numerous references to the classic economic literature. Innovative examples and applications of microeconomics theory. Detailed coverage of welfare economics. Pedagogy: Chapter introductions Numerous diagram and illustrations About The Author: Stanley Fischer First Deputy Managing Director of the International Monetary Fund, on leave from the Department of Economics at MIT. He was an undergraduate at the London School of Economics and has a Ph.D. from MIT. He taught at the University of Chicago while Rudi Dornbusch was a student there, starting a long friendship and collaboration. He has been a member of the faculty of the MIT Economics Department since 1973. During that period he has taken leaves at the Hebrew University in Jerusalem and at Stanford. From 1988 to 1990 he was Chief Economist at the World Bank. He joined the IMF in 1994. His main research interests are economic growth and development; international economics and macroeconomics, particularly inflation and its stabilization; and the economics of transition. www.imf.org/external/np/omd/bios/sf.htm Richard Startz Castor Professor of Economics at the Univers