Advanced Modern Macroeconomics

'Modern Macroeconomics' provides a back-to-basics approach to macroeconomics. Requiring only a microeconomics background, the book is a comprehensive introduction to macroeconomics that builds the essential elements in a methodologically consistent fashion. Advanced Modern Macroeconomics: Analysis and Application Advanced Modern Macroeconomics provides a back-to-basics approach to macroeconomics. Requiring only a microeconomics background, the book is a comprehensive introduction to macroeconomics that builds the essential elements in a methodologically consistent fashion. The book: · lays out elements of modern macroeconomics in a comprehensive, general equilibrium and fully accessible way. · uses a ‘micro-foundation’ approach so that every graph illustrates the exact example equilibrium that is derived from optimisation. · allows for a potential paradigm shift in macroeconomics by showing how the basic standard models can explain most crucial elements. Features: · Applications in each chapter explore policy and how economics explains the real world. · All mathematical equations used to develop the theory are derived within the text or in appendices. This book is essential reading for students of macroeconomics courses at both undergraduate and postgraduate level. About the author Max Gillman was educated at the University of Chicago, and is a Professor in the Economics faculty at Cardiff Business School, Cardiff University. He is also Research Associate at the Institute of Economics, Hungarian Academy of Sciences. 'Takes the undergraduate student to the frontier of macroeconomic research... a landmark contribution' Charles Nolan, University of Glasgow Modern Macroeconomics, by Max Gillman, takes a new and modern approach to macroeconomic theory using microeconomic foundations. Building from the standard neo-classical models, Gillman has developed a new dynamic model which works to explain business cycles and unemployment, why you can have a banking lead recession as well as fiscal and monetary policy. Although strong in mathematical rigour all calculations in this text are fully derived and graphs provide a direct representation making it accessible. This text is suitable for undergraduate students studying Advanced Macroeconomics courses.