A modern approach to macroeconomics. Williamson's Macroeconomics uses a thoroughly modern approach by showing readers how to build macroeconomic models from microeconomic principles. This approach helps to make the text consistent with the way macroeconomic research is conducted today. The fourth edition weaves the recent events of the financial crisis into the material.

Table of Contents

Part I. Introduction and Measurement Issues Chapter 1: Introduction Chapter 2: Measurement Chapter 3: Business Cycle Measurement Part II. A One-Period Model of the Macroeconomy Chapter 4: Consumer and Firm Behavior: The Work--Leisure Decision and Profit Maximization Chapter 5: A Closed-Economy One-Period Macroeconomic Model Part III. Economic Growth Chapter 6: Economic Growth: Malthus and Solow Chapter 7: Income Disparity Among Countries and Endogenous Growth Part IV. Savings, Investment, and Government Deficits Chapter 8: A Two-Period Model: The Consumption--Savings Decision and Credit Markets Chapter 9: Credit Market Imperfections: Credit Frictions, Financial Crises, and Social Security Chapter 10: A Real Intertemporal Model with Investment Part V. Money and Business Cycles Chapter 11: Money, Banking, Prices, and Monetary Policy Chapter 12: Market-Clearing Models of the Business Cycle Chapter 13: New Keynesian Economics: Sticky Prices Part VI. International Macroeconomics Chapter 14: International Trade in Goods and Assets Chapter 15: Money in the Open Economy Part VII. Topics in Macroeconomics Chapter 16: Money, Inflation, and Banking Chapter 17: Unemployment: Search and Efficiency Wages Chapter 18: Inflation, the Phillips Curve, and Central Bank Commitment