Created: 1999-11-10
Last Modified: 1999-12-01
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Macroeconomics:Table of Contents

J. Bradford DeLong

November 1999

Macroeconomics Textbook Manifesto

Multimedia Economics Education

Early drafts of chapters 1 through 3 are up on the web (for my fall 1999 course). These are early drafts, for use by fall 1999 U.C. Berkeley students.

1. Introduction

A. What is macroeconomics?

B. What is the macroeconomy doing?


2. Measuring the Economy

A. Data

B. The six key variables

C. Constructing real GDP


3. Thinking Like an Economist

A. Trying to understand macroeconomics

B. The circular flow of economic activity

C. Other metaphors


4. Long-Run Economic Growth: Theory

A. Sources of long-run economic growth

B. The Solow growth model

C. Understanding the growth model

D. Economic welfare and economic growth


5. Long-Run Economic Growth: History and Prospect

A. Before modern economic growth

B. Modern economic growth

C. The world distribution of prosperity

D. Policies and long-run growth


6. GDP and National Income: A Full-Employment Analysis

A. Potential output and factor prices

B. The components of GDP

C. Equilibrium

D. Using the model

E. On the supply side

F. Conclusion


7. Money, Interest, and Prices

A. Money

B. The quantity theory of money

C. Interest-sensitive money demand

D. The costs of inflation


8. The Income-Expenditure Framework: Consumption and the Multiplier

A. Sticky prices

B. Income and expenditure

C. The multiplier


9. The IS Curve: Investment, Net Exports, and Interest Rates

A. Interest rates and aggregate demand

B. The IS curve

C. Using the IS curve to understand the economy


10. The IS-LM Framework and Its Extensions

A. The LM curve and the money market

B. Fluctuations in output and employment

C. IS-LM and the exchange rate

D. Output, the price level, and inflation


11. Aggregate Supply and the Phillips Curve

A. Inflation and aggregate supply

B. The natural rate of unemployment

C. Expected inflation

D. Supply shocks

E. Understanding fluctuations

F. From the short run to the long run


12. Stabilization Policy

A. Economic policy institutions

B. The power and limits of stabilization policy

C. Fiscal vs. monetary policy

D. Rules vs. authorities

E. Extreme situations


13. The National Debt and Investment Policy

A. Introduction

B. The budget deficit and stabilization policy

C. Measuring the debt and the deficit

D. Analyzing debt and deficits


14. International Economic Policy

A. Introduction

B. Exchange rate systems

C. How a fixed exchange rate system works

D. Currency crises


15. Changes in the Macroeconomy and in Macroeconomic Policy

A. Changes in the macroeconomy

B. The history of macroeconomic fluctuations

C. Macroeconomic policy: lessons learned

D. Macroeconomic policy: lessons un- or half-learned


16. The Future of Macroeconomics

A. Analyzing public finance

B. The future of real business cycle theory

C. The future of sticky-price theory

D. The future of growth theory


17. Conclusion

A. Reading your newspaper

B. Running your government

C. Where economics is strong

D. Where economics is weak

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Professor of Economics J. Bradford DeLong, 601 Evans Hall, #3880
University of California at Berkeley
Berkeley, CA 94720-3880
(510) 643-4027 phone (510) 642-6615 fax

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