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Macroeconomics for Managers


This text offers business managers and business school students an excellent practical explanation of the short-term linkages that impact the performance of the overall economy. While the underlying theoretical constructs are not ignored, emphasis is placed on the empirical underpinnings and managerial implications of macroeconomics. The text begins by introducing key concepts such as the GDP, National and Personal Income, and the various measures of inflation and unemployment. Building on this foundation it then analyzes the following aspects of macroeconomics: aggregate supply and demand, international financial markets, cyclical fluctuations, policy analysis, and forecasting.

Engaging the reader through many features, the text includes detailed case studies and "Manager's Briefcase" discussions, which provide practical applications of macroeconomic concepts to real-world situations. Additionally, each chapter ends with a list of key concepts, a chapter summary, and practice questions. Its short-term, empirically oriented approach makes this text a distinctive and practical resource for better understanding macroeconomics.

Michael K. Evans formerly taught at the Kellogg School at Northwestern University. Since 1981 he has headed Evans, Carroll & Associates (formerly Evans Economics), and has generated thousands of forecasts at the macroeconomic, financial, industry, and individual company level. He was awarded the Annual Blue Chip Economic Forecasting Award in 1999 for the most accurate macroeconomic forecasts over the past four years.
Preface and Acknowledgements.

Part I: Introductory Concepts:.

1. The Importance Of Macroeconomics.

2. National Income And Product Accounts (Nipa).

3. Key Data Concepts: Inflation, Unemployment, And Labor Costs.

Part II: Aggregate Demand And Joint Determination Of Output And Interest Rates:.

4: The Consumption Function.

5: Investment And Saving.

6: Determination Of Interest Rates And Introduction To Monetary Policy.

7: Joint Determination Of Output And Interest Rates: The Is/Lm Diagram.

Part III: Aggregate Supply: Inflation, Unemployment, And Productivity:.

8: Causes And Cures For Inflation.

9. Why High Unemployment Persists.

10. Aggregate Supply, The Production Function And The Neoclassical Growth Model.

Part IV: The International Economy:.

11. Basic Determinants Of Exports And Imports.

12. International Financial Markets.

13. The Mundell-Fleming Model Joint Determination Of Output, Interest Rates, Net Exports, And The Value Of The Currency.

14. Case Studies In International Trade.

Part V: Cyclical Fluctuations:.

15. Business Cycles.

16. Cyclical Fluctuations In Components Of Aggregate Demand.

17. Cyclical Fluctuations In Financial Markets.

Part VI: Policy Analysis And Forecasting:.

18. Fiscal Policy And Its Impact On Productivity Growth.

19. Monetary Rules And Policy Analysis.

20. Macroeconomic Forecasting: Methods And Pitfalls.

Bibliography and Further Reading.