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Macroeconomics (4th Edition) Hardcover – February 21, 2010

ISBN-13: 978-0131368736 ISBN-10: 0131368737 Edition: 4th

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Product Details

  • Hardcover: 720 pages
  • Publisher: Addison-Wesley; 4th edition (February 21, 2010)
  • Language: English
  • ISBN-10: 0131368737
  • ISBN-13: 978-0131368736
  • Product Dimensions: 1.2 x 7.5 x 9.2 inches
  • Shipping Weight: 2.6 pounds
  • Average Customer Review: 3.1 out of 5 stars  See all reviews (23 customer reviews)
  • Amazon Best Sellers Rank: #32,837 in Books (See Top 100 in Books)

Editorial Reviews

About the Author

Stephen Williamson is the Chester A. Phillips Professor of Financial Economics in the Department of Economics, Tippie College of Buisness, University of Iowa, and is a Visiting Scholar at the Federal Reserve Bank of Richmond. He received a B.Sc. in Mathematics and an M.A. in Economics from Queen's University in Kingston, Canada, and his Ph.D. from the University of Wisconsin-Madison. He has worked as an economist at the Federal Reserve Bank of Minneapolis and the Bank of Canada. Professor Williamson has published scholarly articles in the American Economic Review, the Journal of Political Economy, the Quarterly Journal of Economics, the Review of Economic Studies, the Journal of Economic Theory, and the Journal of Monetary Economics, among other prestigious economics journals.

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Customer Reviews

3.1 out of 5 stars
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See all 23 customer reviews
I personally found Mankiw's text to be much clearer and to include better math.
Lacrosse Chick
So it seems to me that this book is lack of necessary details for some important concepts, in which case it's not as reliable as I thought it would be.
Tommy
There is no bibliography, except for a couple of footnote references for each discussion box.
nhle

Most Helpful Customer Reviews

26 of 35 people found the following review helpful By A Customer on December 18, 2002
Format: Hardcover
After reading this book no one will ever complain that macroeconomics lacks micro foundations. This book first explains the microeconomics of intertemporal goods and labor markets and goes on to create an intertemporal general equilibrium economy (with two periods for simple exposition). Then Wiliamson shows how growth theory and business cycle theories are applied in this general equilibrium economy. This is by far the most fun and understandible way to teach undergraduates about growth and business cycles at the intermediate level.
Williamson also lays out "stylized facts" of the business cycle, including comovements, and he critiques different business cycle theories based on whether they can replicate those comovements in the data. This book comes closer than any other intermediate text to replicating how modern macroeconomics is done.
Ch 8 which explains Solow and endogenous growth models is by far the most understandible and educational of any text on the market, since Williamson does the models in discrete time rather than continuous time. If you're a professor that wants to teach undergraduates growth theory and/or growth dynamics SO THAT THEY REALLY UNDERSTAND THEM DEEPLY and ENJOY THE LEARNING EXPERIENCE, this is the book to assign.
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6 of 7 people found the following review helpful By Amazon Customer on January 12, 2011
Format: Hardcover Verified Purchase
This book provides a decent overview of intermediate macroeconomics and is overall quite clear and concise. The intuition for the theory covered is conveyed well, and the author gives a fairly balanced treatment of the various theories. More quantitative examples in the text would have been helpful. One criticism is that there are quite a number of typos in the text, questions at the end of the chapter, and exercises.
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15 of 20 people found the following review helpful By Tommy on December 1, 2010
Format: Hardcover Verified Purchase
Rather than using the precise math language to explain the economy, the author created an awful lot of BS throughout each single chapter of the book. I spent more than 3 hours on average reading just one chapter of the text, and when I finally finished and looked back, I found myself not able to recall the core stuffs, because they are totally buried under all those stupid BS's. But you know what, it's fine to have written more than necessary, because that may actually make the book more reliable when the readers are facing some hardcore detail oriented econ exams. However, that is not the case, for example, in chapter 13, there is a full explanation of the sticky price model, and right after the model there is this sentence "...money is not neutral in the short run because of sticky prices (or wages),...." And the author doesn't go on and do a similar experiment for the effects of sticky wages. Believe me, after reading all those tedious craps before the model, you will think that sticky prices and wages are the same thing when you finally reach this sentence. So it seems to me that this book is lack of necessary details for some important concepts, in which case it's not as reliable as I thought it would be. So given it's time consuming BS's , I'm giving a one.
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9 of 12 people found the following review helpful By Robert Garrison II on December 11, 2009
Format: Hardcover Verified Purchase
This book is horrible. Using it now for a grad school macro class, and the errors in the mathematical appendix, the half-baked ideas expressed in the book and other horrendous items make this book a bad buy. He does not "drive home" on many topics in the book. I look forward to burning this book after this class is over. I would much rather recommend Macroeconomics by Bernanke and Abel (.Macroeconomics plus MyEconLab plus eBook 1-semester Student Access Kit (6th Edition)), than this excuse of a book.
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4 of 5 people found the following review helpful By Wesley Busdiecker on June 14, 2011
Format: Hardcover Verified Purchase
This was the assigned text for a class on business cycles. The professor used this text as background and for reading assignments, He followed the general outline of the text and filled in with more mathematical examples and additional details. Were things may have been a bit inconstant we analysed why they were or were not.

I feel the text added to the understanding of the course, generally the text was clear and the numerous graphs added greatly to the understanding of the material. I could not see a bias to the text and it's material as some other reviews have stated, it seemed to hit Keynesian, Monetarism, and others. Generally there is far more material in the book than can be covered in a single course. The 4th edition at this point (mid 2011) is very up to date with examples and details from the real world.
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9 of 13 people found the following review helpful By nhle on July 28, 2011
Format: Hardcover
I use this book for my class due to readily available teaching material prepared for it in my department. Its writing is clear and the explanation effective. Other than that, the book is written at a low pedagogical standard.

The author of this book write it as if neo-classical economics needs a new Bible. If you share the faith, it's automatically a cannon. If you're agnostic like me, well, you know what the faithfuls would tell you... Time and again, everything Keynesian is mentioned and brushed aside despite the clear caveats of the neo-classical models at hand (this author earnestly believes that a 2-by-2 Walrasian model can explain the current financial crisis better than everything in Keynes' General Theory - just like Paul Krugman believes that the Samuelson cross by itself can explain the whole economy better than all the macro literature in the last 20 years). Unsurprisingly, everything Ed Prescott, even unpublished scripts, is treated with Scripture status.

All this school-of-thought bias above would be acceptable if the text had a decent bibliography so that students can find themselves original sources for contentious topics. There is no bibliography, except for a couple of footnote references for each discussion box.
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