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- Product code: 10908
- ISBN: 0262611503,
ISBN13: 9780262611503,
432 pages, paperback
Published by MIT Press on 2002
, 2nd Revised edition Rate this book...
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Description of Macroeconomic Essentials |
What do we want our students to be able to do upon completing an introductory course in macroeconomics - shift curves on diagrams or interpret media commentary on the economy? This book, an effort to lead students in the latter direction, offers a clear exposition of introductory macroeconomic theory along with more than 600 one- or two-sentence "news clips" that serve as illustrations and exercises. The author calls this approach "media economics" to distinguish it from the encyclopaedic character of traditional texts. The book provides a guide to what the author calls the "really important" ideas of macroeconomics, with a strong connection to the real world. Thus many instructors should find the book suitable for use in courses enrolling business students. The method of presentation allows room for topics that are crucial for the interpretation of news commentary, but given inadequate coverage in traditional macroeconomics texts. Examples include the many roles of nominal versus real interest rates, and international phenomena such as purchasing power parity.
Despite its nontechnical presentation, the material in the book is quite challenging for students; to answer questions based on the news clips, students must truly understand the economic concepts and apply problem-solving skills rather than rote learning. This text, unlike other economic texts, provides the students with a practical yet sophisticated grasp of the macroeconomic principles necessary to interpret media commentary. The second edition has been revised and updated throughout.
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Reviews'Finally! A textbook that provides students with what they need to know to survive and succeed in today's economy. It is well written, lively and succinct - students will actually read assignments before coming to class.' - James W. Marlin, Former President and Executive Director EconomicsAmerica - Nebraska
'Kennedy's book breaks new ground. It skilfully repackages macroeconomics to help readers understand 'media economics.'' - Lee Hansen, Professor of Economics, University of Wisconsin.
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