TY  - BOOK
AU  - Rashid,Manzur
AU  - Antonioni,Peter
TI  - Macroeconomics for dummies
T2  - --For dummies
SN  - 9781119026624
AV  - HB172.5 R374 2016
U1  - 339 23
PY  - 2015///
CY  - Chichester, West Sussex United Kingdom
PB  - John Wiley & Sons, Inc.
KW  - Macroeconomics
KW  - fast
N1  - Includes index; Introduction: -- About this book -- Foolish assumptions -- Icons used in this book -- Beyond the book -- Where to go from here -- Part 1: Getting Started With Macroeconomics: -- Discovering Why Macroeconomics Is A Big Deal: -- Big picture: Checking Out The Economy As A Whole: -- Investigating why macroeconomists are like detectives -- Diagnosing why macroeconomists are like doctors -- Looking At The Key Macroeconomic Variables: -- Considering all this GDP malarkey -- Questioning whether inflation really makes people poorer -- Finding a job-and a spouse -- Modeling The Economy: -- Unearthing why economists model -- Meeting the agents that participate in the models -- Plotting Economic Policy: -- Monetary policy: controlling the economy's money supply -- Fiscal policy: spending or taxing more -- Playing policy games -- Financial Crises! Going Wrong On A Global Scale: -- Looking at two scary facts about banks -- Recognising the dangers of moral hazard -- Looking At Key Questions And Concepts: -- Seeing The Questions That Intrigue Macroeconomists: -- Why are some countries rich and others poor? -- What causes the price of things to rise? -- What causes unemployment? -- Thinking Like An Economist: Learning To Love Modelling: -- Modelling to understand the world -- Ensuring that intuition doesn't fail you -- Clarifying Important Macroeconomic Concepts: -- Knowing that what's real counts -- Stocking up and going with the flow -- Differentiating investment and capital -- Sorting levels from growth rates -- Investigating interest rates: the price of money -- Discovering five important terms (though knowing one is enough) -- Curing A Sick Economy Of Four Afflictions: -- Reading About Recessions: -- Identifying a recession -- Addressing recessions with fiscal or monetary policies -- Getting Hyper About High Inflation: -- Soaring to an understanding of hyperinflation -- Tackling hyperinflation: stop printing money! -- Finding Out About Financial Crises: -- Diagnosing a financial crisis -- Fighting financial crises: lender of last resort -- Uncovering Unemployment: Causes And Responses: -- Recognising that unemployment is bad for society -- Working on unemployment: labor market flexibility -- Part 2: Measuring The Things That Matter: -- Totting Up A Country's Economic Activity: Gross Domestic Product: -- Grasping The Idea Of GDP: -- Adding up total value added -- Determining a country's income-and not consuming it all at once! -- Watching a nation's GDP flow -- Distinguishing real and nominal GDP -- Getting Out What You (Marginally) Put In: -- Modelling what firms do -- Perusing the properties of the production function -- Working out the demand for labor and capital -- Calculating GDP: Assessing An Economy's Health: -- Introducing the basics -- Revising the estimates -- Accounting for quality improvements -- Measuring Living Standards With GDP And Other Methods: -- Using GDP per captia: how much cake per person? -- Finding a fairer comparison: Purchasing Power Parity (PPP) -- Searching for a broader measure: Human Development Index (HDI) -- Recognising levels of inequality: the Gini coefficient -- Facing The Fact Of Increasing Prices: Inflation: -- Working Out Inflation: Into The Average Shopping Basket: -- Compiling a basket of products and services -- Adjusting for quality and size -- Assessing different measures -- Understanding why inflation is usually overestimated -- Connecting inflation to interest rates -- Examining The Cause Of Inflation: The Quantity Theory Of Money: -- Trying out the quantity equation -- Identifying the quantity equation as always being true -- Pointing the finger at policy makers for inflation -- Appraising Inflation: Good Or Bad?: -- Counting the costs of inflation -- Appreciating two benefits of inflation -- Rising To Extremes: Hyperinflation: -- Seigniorage: financing the government by printing money -- Seeing how seigniorage can lead to hyperinflation -- Stopping hyperinflation after it starts -- Going downwards: deflation -- Unemployment: Wasting Talent And Productivity: -- Understanding the importance of unemployment: opportunity cost -- Comparing Two Different Measures Of Unemployment: -- ILO: looking at the big picture -- Claimant count: talking about benefits -- Comparing the two measures -- Distinguishing Two Different Types Of Unemployment: -- Frictional unemployment: finding a job is like finding a spouse -- Structural unemployment: experiencing a mismatch between labor supply and demand -- Considering possible causes of structural unemployment -- Reducing The Natural Rate Of Unemployment: -- Determining the natural rate of unemployment -- Thinking about supply-side policies; Part 3 Building A Model Of The Economy: -- Working Out A Country's Economic Demand: -- Looking into what everyone wants: aggregate demand -- Meeting The Components Of Aggregate Demand: -- Tucking in! consumption -- Tooling up for business: investment -- Factoring in government purchases -- Coming in, going out: net exports -- Following The Aggregate Demand Curve: -- Observing movement along the AD curve -- Tracing a shift of the curve -- Determining How Much Stuff An Economy Can Produce: -- Producing what people demand: aggregate supply -- Looking At Long-Run Aggregate Supply: -- Deciding on output in the long run -- Considering economic growth -- Getting To Grips With Short-Run Aggregate Supply: -- Producing more in the short run -- Pulling apart why prices can be sticky -- Using The AD-AS Model To Analyze Shocks To The System: -- Discovering what the AD-AS model does and doesn't explain -- Delving Into Demand-Side Shocks: -- Testing your faith: confidence in the economy -- Feeling confident enough to invest? -- Impacting demand via fiscal policy -- Setting the interest rate: impacts through monetary policy -- Increasing demand with the multiplier effect -- Bumping Into Supply-Side Shocks: -- Examining the impact of energy prices -- Innovating to effect change: technological advances -- Part 4: Examining Macroeconomic Policy: -- Using Monetary Policy To Influence The Economy: -- Seeing Monetary Policy In Action: -- Taking a stall at the money market -- Changing the money supply affects the interest rate -- Influencing the money supply: open market operations -- Controlling the supply of some types of money -- Deciding who can borrow at the base rate: hint, it's not you! -- Exerting Control Over Inflation: -- Targeting inflation for price stability -- Accounting for policy time lags -- Identifying the underlying cause of the shock -- Spotting The Liquidity Trap And Quantitative Easing: -- Zeroing in on the liquidity trap -- Querying the nature of quantitative easing -- Reeling In The Fisher Effect: -- Discovering the real internet rate in the long run -- Nominal interest rate in the long run -- Understanding that money is neutral in the long run -- Fiscal Policy: Balancing The Books-Perhaps: -- Delving Into Fiscal Policy: -- Acknowledging that governments face budget constraints -- Distinguishing between deficit and debt -- Running deficits every year: debt-to-GDP ratio -- Raising a government's revenue -- Taking In Two Views Of Fiscal Policy: -- Studying the standard view -- Reading about the Ricardian view -- Debating who's right -- Seeking Low Unemployment And Low Inflation: The Phillips Curve: -- Boosting The Economy: A Good Strategy For Low Unemployment?: -- Meeting the original Phillips curve -- Watching the Phillips curve break down -- Taking aim with the Lucas critique -- Zeroing In On The Short- and Long-Run Phillips Curve: -- You can fool the people once: Short-Run Phillips Curve (SRPC) -- Won't get fooled again: Long-Run Phillips Curve (LRPC) -- Taking Action With Disinflation Policy: -- Seeing the sacrifice ratio: no pain, no gain -- Adjusting expectations for socially costless disinflation -- Following Rules Or Using Discretion: Two Approaches To Economic Policy: -- Introducing The Rules Versus Discretion Debate: -- Allowing the rules to rule -- Exercising your discretion -- Discerning The Problems With Discretion: -- Allowing politicians off the leash -- Encountering time inconsistency -- Solving The Problem: Tying Your Hands Voluntarily: -- Creating a credible commitment -- Making central banks independent; Part 5: Understanding The Financial Crisis: -- Considering Fundamental Weaknesses Of The Financial System: -- Understanding weaknesses in the financial system -- Finding Out About Fractional Reserve Banking: -- Discovering what happens when you put your money in the bank -- Creating money out of thin air -- Experiencing bank runs: why any bank can fail -- Catching A Cold! Systemic Risk: -- Struggling with a complex web of transactions -- Fearing contagion: when one gets sick, they all follow -- Seeing systemic risk in practice: the case of Lehman Brothers -- Getting Away With Excessive Risk-Taking: Moral Hazard: -- Banks behaving badly: watching out for moral hazard -- Avoiding financial Armageddon: bailouts -- Providing Incentives For Excessive Risk-Taking: -- Rigging the game: heads we win, tails you lose -- Investigating insurance and moral hazard -- Factoring in the problem of compensation -- Modelling risk-taking as a prisoner's dilemma -- Committing To No Bailouts (Dream On!) -- Making (and ignoring) incredible threats -- Tacking moral hazards to avoid bailouts -- Considering The Lessons Of The 2008 Financial Crisis: -- Delving Into The Global Financial Crisis: -- Overinflating the housing bubble: subprime lending -- Becoming unbalanced: securitization and asymmetric information -- Facing the failure of financial institutions -- Asking Why Economists Didn't Predict The Crisis: -- Appreciating the limitations of the 'average': asset returns have fat tails! -- Understanding why no one can predict crises -- Trying To Stop The Next Crisis: -- Suggesting smarter regulation -- Breaking up the 'too-big-to-fail' banks -- Playing safe with 100 per cent reserve banking -- Part 6: Part Of Tens: -- Getting To Know Ten Great Macroeconomists: -- Adam Smith (1723-1790) -- John Maynard Keynes (1883-1946) -- Milton Friedman (1912-2006) -- Paul Samuelson (1915-2009) -- Robert Solow (born 1924) -- Robert Lucas (born 1937) -- Edward Prescott (born 1940) -- Robert Barro (born 1940) -- Robert Hall (born 1943) -- Janet Yellen (born 1946) -- Ten Top Tips To Take Away: -- Factoring in factors of production -- Paying factors of production their marginal products -- Understanding that excessive growth in the money supply causes high inflation -- Minimizing unemployment (though some is inevitable) -- Stimulating aggregate demand can increase output only in the short run -- Accepting that financial crises are certain and impossible to predict -- Seeing that no trade-off exists between inflation and unemployment in the long run -- Discovering why policy makers should constrain themselves -- Fixing the financial system without solving moral hazard is impossible -- Recognising that, ultimately, real things are what count -- Index
N2  - Overview: Taking a fun, step-by-step approach to the topic, this great guide provides an engaging introduction to macroeconomics and then delves into more specific topics, such as business cycles, inflation, unemployment, domestic output, monetary policy, and much more. When it comes to the interaction of politics, business decisions, consumer actions, and monetary policy, the study of economics is international in scope. That means you must understand not just the economies of nations, but also the interrelatedness of national economies throughout the world. This easy, accessible guide will help you: Find out how many different financial, business, consumer, and political factors interact to create the overall economic reality of nations. -- Understand business cycles, economic growth, and fiscal and monetary policies. -- Study the relationships of various economic indicators, such as inflation, unemployment, and domestic output. -- Gain a solid understanding of macroeconomics by building on microeconomic principles and using real-world examples. -- If you're struggling with your economics course or you need to get up to speed on the topic of macroeconomics quickly, Macroeconomics For Dummies has you covered!
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