Cutting-Edge Approach: By emphasizing growth and microfoundations -- rather than policy solutions for stabilizing the economy -- this text equips students with a uniquely modern presentation of real-world economics. MACROECONOMICS: A MODERN APPROACH begins with an introduction to macroeconomics and growth theory before advancing to the essential microfoundations, business cycles and fluctuations, prices and the difference between real and nominal variables, and ultimately the government sector, taxes, and international macroeconomics.
Research Based: Robert J. Barro is a leading researcher noted for his strengths in growth theory, microfoundations, and a concise yet elegant presentation of data. In this first edition, Barro presents growth theory more completely than any other textbook on the market -- delivering the detailed, empirically backed coverage of growth theory that is lacking in other macro texts. Reflecting Barro's research, the book gives readers the most current coverage available.
Student Friendly: Because the jumble of models and differing theories of macroeconomics presented in other texts often confuse students, Barro builds the model from solid microfoundations with a clear, thorough exposition of growth theory. This gives students access to a cohesive, clearly explained model of macroeconomics, which helps them understand how macro models serve to explain and predict movements in real economies. Barro builds on microfoundations explicitly so that students see how what they’ve already learned about economics is built upon in macroeconomic models of the economy.