Macroeconomics For Dummies

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The fast and easy way to make macroeconomics manageable

Macroeconomics is kind of a big deal. Without it, we wouldn't have the ability to study the economy as a whole—which is something that affects almost every aspect of your life, whether you realize it or not. From your employment status to how much you earn and pay in taxes, macroeconomics really matters. Breaking down this complicated and fascinating topic into manageable pieces, Macroeconomics For Dummies gives you fast and easy access to a subject that has a tendency to stump the masses.

With the help of this plain-English guide, you'll quickly find out how to gather data about economies to inform hypotheses on everything from the impact of cutting government spending to the underlying causes of recessions and high inflation.

  • Analyze business cycles for overall economic health
  • Study economic indicators such as unemployment
  • Understand financial trends on the international market
  • Score higher in your macroeconomics class

Filled with step-by-step instruction and enlightening real-world examples, this is the only book you need to slay the beast and make macroeconomics your minion!

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About the author

Daniel Richards, PhD, is a professor of economics at Tufts University. He received his PhD from Yale University.

Manzur Rashid, PhD, has taught economics at University College London and Cambridge University.

Peter Antonioni is a senior teaching fellow at University College London.

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Additional Information

Publisher
John Wiley & Sons
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Published on
Jul 7, 2016
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Pages
416
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ISBN
9781119184447
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Language
English
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Genres
Business & Economics / Economics / Macroeconomics
Political Science / Political Economy
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Content Protection
This content is DRM protected.
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Read Aloud
Available on Android devices
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Who was the greater economist--Adam Smith or Charles Darwin? The question seems absurd. Darwin, after all, was a naturalist, not an economist. But Robert Frank, New York Times economics columnist and best-selling author of The Economic Naturalist, predicts that within the next century Darwin will unseat Smith as the intellectual founder of economics. The reason, Frank argues, is that Darwin's understanding of competition describes economic reality far more accurately than Smith's. And the consequences of this fact are profound. Indeed, the failure to recognize that we live in Darwin's world rather than Smith's is putting us all at risk by preventing us from seeing that competition alone will not solve our problems.

Smith's theory of the invisible hand, which says that competition channels self-interest for the common good, is probably the most widely cited argument today in favor of unbridled competition--and against regulation, taxation, and even government itself. But what if Smith's idea was almost an exception to the general rule of competition? That's what Frank argues, resting his case on Darwin's insight that individual and group interests often diverge sharply. Far from creating a perfect world, economic competition often leads to "arms races," encouraging behaviors that not only cause enormous harm to the group but also provide no lasting advantages for individuals, since any gains tend to be relative and mutually offsetting.

The good news is that we have the ability to tame the Darwin economy. The best solution is not to prohibit harmful behaviors but to tax them. By doing so, we could make the economic pie larger, eliminate government debt, and provide better public services, all without requiring painful sacrifices from anyone. That's a bold claim, Frank concedes, but it follows directly from logic and evidence that most people already accept.

Structural Macroeconometrics provides a thorough overview and in-depth exploration of methodologies, models, and techniques used to analyze forces shaping national economies. In this thoroughly revised second edition, David DeJong and Chetan Dave emphasize time series econometrics and unite theoretical and empirical research, while taking into account important new advances in the field.

The authors detail strategies for solving dynamic structural models and present the full range of methods for characterizing and evaluating empirical implications, including calibration exercises, method-of-moment procedures, and likelihood-based procedures, both classical and Bayesian. The authors look at recent strides that have been made to enhance numerical efficiency, consider the expanded applicability of dynamic factor models, and examine the use of alternative assumptions involving learning and rational inattention on the part of decision makers. The treatment of methodologies for obtaining nonlinear model representations has been expanded, and linear and nonlinear model representations are integrated throughout the text. The book offers a rich array of implementation algorithms, sample empirical applications, and supporting computer code.



Structural Macroeconometrics is the ideal textbook for graduate students seeking an introduction to macroeconomics and econometrics, and for advanced students pursuing applied research in macroeconomics. The book's historical perspective, along with its broad presentation of alternative methodologies, makes it an indispensable resource for academics and professionals.

Your one-stop guide to understanding Microeconomics

Microeconomics For Dummies (with content specific to the UK reader) is designed to help you understand the economics of individuals. Using concise explanations and accessible content that tracks directly to an undergraduate course, this book provides a student-focused course supplement with an in-depth examination of each topic. This invaluable companion provides clear information and real-world examples that bring microeconomics to life and introduces you to all the key concepts. From supply and demand to market competition, you'll understand how the economy works on an individual level, and how it affects you every day. Before long, you'll be conversant in consumers, costs, and competition.

Microeconomics is all about the behaviour of individual people and individual firms. It sounds pretty straightforward, but it gets complicated early on. You may not be an economist, but if you're a business student at university, the odds are you need to come to grips with microeconomics. That's where Microeconomics For Dummies comes in, walking you through the fundamental concepts and giving you the understanding you need to master the material.

Understand supply, demand, and equilibrium Examine the consumer decision making process Delve into elasticity and costs of production Learn why competition is healthy and monopolies are not

Even the brightest business students can find economics intimidating, but the material is essential to a solid grasp of how the business world works. The good news is that you've come to the right place.

Untangle the jargon and understand how you're involved in everyday economics

If you want to get to grips with the basics of economics and understand a subject that affects British citizens on a daily basis, then look no further than Economics For Dummies. This easy to understand guide takes you through the world of economics from understanding micro- and macroeconomics to demystifying complex topics such as capitalism and recession.

This updated edition walks you through the history, principles and theories of economics as well as breaking down all the complicated terminology, leaving you clued up on economics in no time.

Getting to grips – explore the science of economics and how people deal with scarcity

Keeping an eye on it – learn all about macroeconomics and how economists keep track of everything

Watch patterns emerge – understand why monitoring consumer behaviour is vital and all you need to know about microeconomics

Your recession guide – expert advice on recessions and a detailed look at why they occur

Open the book and find:

Why you should care about economics and how it affects you

Tools to help you understand a recession

A guide to seductive economic fallacies

All you need to know on monetary and fiscal policies

How supply and demand can be made easy

Why it's vital to track consumer choices

An in-depth look at a profit-maximising firm and the core of capitalism

Guidance on property rights and wrongs

Learn to:

Look through economic history and spot the trends

Understand micro- and macroeconomics

Get to grips with consumer behaviour and its influence on the economy

Spot the signs of a recession and see how economic decisions affect you

From 2020 Democratic presidential candidate Andrew Yang, a captivating account of how "a skinny Asian kid from upstate" became a successful entrepreneur, only to find a new mission: calling attention to the urgent steps America must take, including Universal Basic Income, to stabilize our economy amid rapid technological change and automation.

The shift toward automation is about to create a tsunami of unemployment. Not in the distant future--now. One recent estimate predicts 45 million American workers will lose their jobs within the next twelve years--jobs that won't be replaced. In a future marked by restlessness and chronic unemployment, what will happen to American society?

In The War on Normal People, Andrew Yang paints a dire portrait of the American economy. Rapidly advancing technologies like artificial intelligence, robotics and automation software are making millions of Americans' livelihoods irrelevant. The consequences of these trends are already being felt across our communities in the form of political unrest, drug use, and other social ills. The future looks dire-but is it unavoidable?

In The War on Normal People, Yang imagines a different future--one in which having a job is distinct from the capacity to prosper and seek fulfillment. At this vision's core is Universal Basic Income, the concept of providing all citizens with a guaranteed income-and one that is rapidly gaining popularity among forward-thinking politicians and economists. Yang proposes that UBI is an essential step toward a new, more durable kind of economy, one he calls "human capitalism."
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