Macroeconomics An Integrated Analytical Framework

Macroeconomics: An Integrated Analytical Framework introduces students to key concepts and practices in modern economics by providing them with an integrated analytical framework for macroeconomic analysis. Students learn about fundamental concepts, including the measurement of economic activity, operation of the banking system, and government policy. They learn how to apply basic macroeconomic models to analyze real economic issues and grow to understand how government policy and individual choices influence the state of the economy.

The book begins with a chapter that defines economics, introduces ways of thinking in an economic context, and the various roles played by economists. Later chapters examine key macroeconomic variables, such as gross domestic product, inflation, and interest rates, as well as the myriad factors that individually and jointly determine these variables. The book addresses the labor market, the loanable funds market, and general equilibrium models. Students are then challenged to apply macroeconomic models to analyze various important and real-world topics, including foreign exchange rates, monetary policy, fiscal policy, and the price of oil.

Highly analytical and practical in nature, Macroeconomics is an ideal text for courses in macroeconomics and finance.

Arthur Liu is an associate professor of economics at East Carolina University. He holds a Ph.D. in economics from Duke University and a M.S. in public policy from the College of William and Mary. Dr. Liu's primary research areas are macroeconomics, international finance, and finance.