Learning Basic Macroeconomics

Book description

Macroeconomics is grounded in microeconomics and uses mathematical models to simplify and illustrate complex processes, learning it can be difficult. And because of this, macroeconomic principles textbooks fail to connect topics and models in a concise, cohesive, and meaningful way. This book is a part of a series that recognizes that the intense competition among emerging markets and against advanced economies to capture their share of the global economy. Most important to this end is the study and practice of international business and foreign trade. The author details better topic selection and organization by building a model of the macroeconomy, and utilizing a single hypothetical numerical example throughout the book to teach you the key principles. Keynesian economics, a school of economic thought based on the views of the British economist John Maynard Keynes, is used to construct the model of the macroeconomy because it is elegant, simplistic, intuitive, and politicians apply it when enacting stimulus bills. (That said, the book is not an endorsement of Keynesian economics, nor does it suggest that mathematical modeling is the quintessential element of economic analysis.)