Advanced Macroeconomics (McGraw-Hill Series Economics) 4th Edition

19 customer reviews
ISBN-13: 978-0073511375
ISBN-10: 0073511374
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Product Details

  • Series: McGraw-Hill Series Economics
  • Hardcover: 736 pages
  • Publisher: McGraw-Hill Education; 4 edition (March 29, 2011)
  • Language: English
  • ISBN-10: 0073511374
  • ISBN-13: 978-0073511375
  • Product Dimensions: 6.5 x 1.4 x 9.4 inches
  • Shipping Weight: 2.4 pounds (View shipping rates and policies)
  • Average Customer Review: 4.4 out of 5 stars  See all reviews (19 customer reviews)
  • Amazon Best Sellers Rank: #134,185 in Books (See Top 100 in Books)

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Customer Reviews

Most Helpful Customer Reviews

19 of 25 people found the following review helpful By Bernd Kotz on March 28, 2012
Format: Hardcover
It is a very good book, easy to understand, the normal mathematic basics are all you need to understand the theory of this book.

He begins with the Solow growth model. It is a static model and can't explain growth over time and the differences between countries in output per person. From that point of view he turns to the Ramsey model. The overlapping generation model is a special case of the Ramsey model. Diamond developed a good model for dynamic analyses. He uses the overlapping generation model for wealth aspects. All models can't describe growth within the economy. It has no productive factor produced in a growth model, like the ak-model. The endogenous growth model deals with it and discuses growth from different point of views. He concentrates on a special model of knowledge. Human capital is introduced later in the Solow model. Knowledge is symbolized in the R&D sector. The Romer model is based on it. The company sells the knowledge via a patent to the market and the rest of the economy behaves competitive. Finally the endogenous growth model is tested. The difference between countries in their output per person comes next. He uses the Solow growth model with human capital. Most of the differences come from other factors. Social infrastructure is a way out and introduces several aspects especially lobbying, tax benefit, rent seeking and geographical factors. The real business cycle based on the Ramsey model. The fluctuations are modeled from the balanced growth path. Two disturbances are modeled, technology and government purchases. Money has no influence in the real business cycle model. It is modeled in the rigidity chapter. Here you have the new Keynesian model with modern fluctuations and rigidities on prices wages and incomplete competition.
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2 of 2 people found the following review helpful By Coleman Nee on February 5, 2015
Format: Hardcover
This is a really useful advanced-intermediate macro text, but it contains almost nothing about the open economy. Maybe the United States can be treated as a closed economy as a first approximation, but most others can't. It would be nice to see more attention paid to these issues in future editions.
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12 of 17 people found the following review helpful By Yuriy on January 11, 2012
Format: Hardcover
This is an excellent textbook in macroeconomics! It combines rigorous theory, very clear intuition and great empirical applications (this favorably contrasts with textbooks doing data-free macroeconomics and really helps to understand questions and issues that macroeconomists try to address). The text also covers a broad range of topics ranging from growth to business cycles to optimal policy. Problems are very helpful to master the material. The text is also unusually balanced for a macroeconomic textbook in the sense that various theories are given fair treatment and assessment. Highly recommend for graduate students!
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3 of 4 people found the following review helpful By Steve99 on July 8, 2014
Format: Hardcover
I really like this book. It's well written and and it serves as a nice bridge between an intermediate text like Mankiw or Abel/Bernanke and a graduate text like Sargent/Ljungqvist.

Let's be clear, though. This is not a graduate macro text. I've never heard of a graduate program that uses it for the first year macro sequence. In fact, I'm not really sure where this book fits in with the standard undergrad/grad set of courses.

At best it's an advanced intermediate book, but what it does it does very well.
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By Amazon Customer on March 22, 2014
Format: Hardcover Verified Purchase
Good text required for class. But a lot of current information on Growth Theory not covered by the "classics" text used by previous professors. But perhaps my experience with the text is more the effect from a good class taught by an earnest professor at Eastern MI.
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By RENJIT M PAL on July 8, 2013
Format: Hardcover Verified Purchase
it's a good textbook for beginners in graduate studies. it's not very straightforward and clear in some chapters. you can choose other famous/similar books for complement
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By xin.xie on February 7, 2015
Format: Hardcover Verified Purchase
It’s the textbook of my macroeconomic class. The paper’s quality is very good.
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Format: Hardcover Verified Purchase
It is the exact book I wanted. It was recommended by my supervisor.
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Advanced Macroeconomics (McGraw-Hill Series Economics)
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