It provides students with a strong conceptual basis for understanding the tension between Keynesian and neoclassical systems that has once again came to the forefront since the 2007–08 financial crisis.
The book shows how theoretical perspectives affect macroeconomic policy choices and proposes a pragmatic approach to policy that is sensitive to prevailing economic conditions. Students of economics and business alike will enjoy its concise and engaging analysis and find the applications and references to the Indian economy helpful.
Table of Contents
Chapter 1. Introduction
Chapter 2. The National Accounts
Chapter 3. The Neoclassical Macro Model
Chapter 4. The Simple Keynesian Model
Chapter 5. Investment and Interest Rates
Chapter 6. The IS–LM Model
Chapter 7. Fiscal and Monetary Policies in the IS–LM Model
Chapter 8. The Aggregate Supply and Demand Model
Chapter 9. Introducing the Open Economy
Chapter 10. Credit and Crisis: An Epilogue