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Macroeconomics: Theory and Policy in the UK


Pitched at the optimum level for undergraduate students, the third edition of this successful and widely adopted intermediate level UK macroeconomics text has been very extensively revised and updated.

The authors have ensured that the existing stengths of the book's tried and tested approach are retained whilst the latest theoretical developments and policy controversies are examined. It provides the UK undergraduate with:

  • Traditional methods of analysis (IS/LM) as well as neo classical and neo Keynesian approaches
  • An emphasis on the leading contemporary conceptual issues and an historical perspective on their development
  • A highly developed and successful text with a non-US orientation that makes sense of the UK context for macroeconomic policy and debate

Based on long teaching experience Macroeconomics will continue to be an essential text for second and third year undergraduate courses.

Keith Shaw and Mike McCrostie are both in the Department of Economics at the University of Buckingham and David Greenaway is in the Department of Economics at the University of Nottingham.
1. The Nature of Macroeconomics.

Part I: Macroeconomic Sectors:.

2. Aggregate Consumption Expenditure.

3. Aggregate Invesetment Expenditure.

4. The Government Sector.

5. The Demand for Money.

6. The Supply of Money.

7. The Labour Market.

Part II: Macroeconomic Systems:.

8. The Classical Economic System.

9. The Economics of Keynes.

10. The Hicksian IS/LM Analysis.

11. Comparative Statics of the Classical, Keynesian and Monetarist Models.

12. The Government Sector, The Budget Constraint and the Crowding Out Controversy.

13. Output, Employment, Expectations and the Price Level.

14. Internal and External Balance.

15. Monetary Disturbances, Expectations and Exchange Rate Dynamics. Part III: Macroeconomic Policy:.

16. The Macroeconomic Policy Debate.

17. Approaches to Macroeconomic Policy.

18. Macroeconomic Policy: Objectives, Instruments and Constraints.

19. Inflation and Counter-inflation Policy in the UK.

20. Unemployment in the UK.

21. Balance of Payments and Exchange Rate Policies in the UK.

22. Policies for Economic Growth in the UK.