Escaping poverty's grasp

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Michael Burda and Charles Wyplosz

"Macroeconomics: A European Text is a comprehensive and completely self-contained textbook which provides a modern treatment of the field. It differs from existing texts in four important aspects:" "First, it presents the "new" macroeconomics, a synthesis of the more traditional fixed price approach and the newer microeconomic foundations and intertemporal aspects which have been developed since the last generation of textbooks was designed." "Secondly, the book does not take the reader through the closed-economy detour. From the very beginning the economy is open. The role of exchange rates, income flows, capital movements and other international linkages is emphasized throughout." "Third, it is written from a European perspective. European countries, while different from one another, share common features such as heavy dependence on external conditions and institutions which - for better or for worse - attach more importance to social needs than to economic efficiency." "Fourth, it shows why macroeconomics is an exciting and socially important discipline. More than 400 figures, tables and boxes illustrate the relevance - and limitations - of theory while providing a good knowledge of economic conditions in Europe and elsewhere. Each major theoretical step is followed by concrete examples taken from actual experience." "Macroeconomics: A European Text can be used for undergraduates in economics as the main textbook for macroeconomics, and for MBA students or undergraduates in business studies as a textbook for a first course in economics. The concepts and results are established geometrically, rather than through mathematics, while a formal treatment is presented in appendices and boxes. Each chapter includes an overview, a summary section, a list of key concepts and a set of applied and theoretical exercises. An accompanying teacher's manual gives guidance on how to present the material and to use selected chapters for shorter courses."--BOOK JACKET.

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Tim Harford

"A provocative and lively exploration of the increasingly important world of macroeconomics, by the author of the bestselling The Undercover Economist. Thanks to the worldwide financial upheaval, economics is no longer a topic we can ignore. From politicians to hedge-fund managers to middle-class IRA holders, everyone must pay attention to how and why the global economy works the way it does. Enter Financial Times columnist and bestselling author Tim Harford. In this new book that demystifies macroeconomics, Harford strips away the spin, the hype, and the jargon to reveal the truth about how the world's economy actually works. With the wit of a raconteur and the clear grasp of an expert, Harford explains what's really happening beyond today's headlines, why all of us should care, and what we can do about it to understand it better. "--

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Roger W. Garrison

"Roger W. Garrison claims that modern Austrian macroeconomics, which builds on the early writings of F.A. Hayek, can be comprehended as an effort to reinstate the capital-theory core that allows for a real coupling of short- and long-run perspectives. Although the macroeconomic relationships identified are largely complementary to the relationships that have dominated the thinking of macroeconomists for the past half century, Time and Money presents a fundamental challenge to modern theorists and practitioners who overdraw the short-run/long-run distinction. The primary focus of this text is the intertemporal structure of capital and the associated set of issues that have long been neglected in the more conventional labor- and money-based macroeconomics. This volume puts forth a persuasive argument that the troubles that characterize modern capital-intensive economies, particularly the episodes of boom and bust, may best be analyzed with the aid of a capital-based macroeconomics."--Jacket.

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Pierre-Richard Agénor and Peter J. Montiel

"Since it was first published in 1995, Development Macroeconomics has remained the definitive textbook on the macroeconomics of developing countries. Now, in this fully revised and updated third edition, Pierre-Richard Agenor and Peter Montiel cover the latest advances in this rapidly changing field, making this the most up-to-date, authoritative, and comprehensive book available on the macroeconomic issues and challenges developing nations confront today." "Agenor and Montiel provide completely new and expanded coverage of fiscal discipline, monetary policy regimes, currency and banking crises, monetary unions, management of capital flows, the choice of an exchange-rate regime, public capital and growth, the political economy of stabilization and adjustment and much more. They review attempts that have been made to adapt standard macroeconomic analysis to conditions in developing economies, and they use a variety of analytical models to address the macroeconomic policy issues that most concern these countries. Agenor and Montiel systematically examine empirical evidence on behavioral assumptions and on the effects of macroeconomic policies in developing nations. They also provide extensive references to literature in the field."--Jacket.