Contents: Preface 1. Understanding Modern Macroeconomics 2. Keynes v. the ‘Old’ Classical Model 3. The Orthodox Keynesian School 4. The Orthodox Monetarist School 5. The New Classical School 6. The Real Business Cycle School 7. The New Keynesian School 8. The Post Keynesian School 9. The Austrian School 10. The New Political Macroeconomics 11. The Renaissance of Economic Growth Research 12. Conclusions and Reflections Bibliography Index
Brian Snowdon, Senior Teaching Fellow, Department of Economics and Finance, Durham University, UK and Howard R. Vane, Emeritus Professor of Economics, Liverpool Business School, Liverpool John Moores University, UK
"'Brian Snowdon and Howard Vane are well-known for their astute understanding of the main macroeconomic schools of thought and their skilled use of interviews with major figures. Here, they deploy a depth of scholarship in explaining the different schools and their key points of departure from one another. This book will be particularly useful to students looking for a clear, non-technical explanation of the main approaches to macroeconomics.' - Patrick Minford, Cardiff University, UK 'There are two steps to learning macroeconomics. First, to see it as it is today. Second, to understand how it got there: to understand the right and the wrong turns, the hypotheses that proved false, the insights that proved true, and the interaction of events and ideas. Only then, does one truly understand macroeconomics. This book is about step two. It does a marvellous job of it. The presentation is transparent, the interviews fascinating. You will enjoy, and you will learn.' - Olivier Blanchard, Massachusetts Institute of Technology, US 'In 40 years of teaching macroeconomics, there has been just one textbook that I have assigned year after year after year, namely, A Modern Guide to Macroeconomics by Snowdon, Vane and Wynarczyk. That altogether admirable book made clear to students what were, and are, the main intellectual issues in macroeconomics and did so with just enough formal modeling to avoid distortion by over-simplification. That book is now ten years old and the debate in macro has moved on. So there is good reason to welcome Snowdon and Vane back with this superb updated version.' - Axel Leijonhufvud, University of Trento, Italy 'This outstanding book avoids the narrow scope of most textbooks and provides an excellent guide to an unusually broad range of ideas.' - Thomas Mayer, University of California, Davis, US"