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From Short Run to Long Run

First Edition
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November 2018 | 524 pages | SAGE Publications Pvt. Ltd

This comprehensive textbook deals with multidimensional aspects of macroeconomics through lucid presentation of concepts and critical comparison of different schools of thoughts.

Macroeconomics: From Short Run to Long Run presents a clear explanation of how the incomes of a country, prices of goods and services, level of employment, interest rates and so on are determined and how an economy progresses. The book attempts to re-establish the existing theories behind the determination of macro variables and the growth process of an economy. In the process, it captures the significance of the debate between the classical orthodox theories and Keynesian modernism and its implications. Besides adhering to traditional aspects, the book also focuses on recent developments such as green macroeconomics. Undergraduate and postgraduate students of economics and business economics will find this book immensely helpful.

Key Features:

• Provides empirical verification of theories where necessary.

• Offers insightful content and critical analysis of environmental factors in the study of macroeconomics.

• Chapters aided by mathematical explanations, quantitative problems and their solutions, and a plethora of objective review questions.

Foreword by Asis Kumar Banerjee
Basic Issues of Macroeconomics
National Income and Its Measurement
National Income–Some Related Issues
Simple Keynesian Model without Government (Model I)
Simple Keynesian Model with Government (Model II)
Commodity Market and the IS Curve (Model III)
Introduction of Monetary Sector into the Keynesian System (Model IV)
Interactions of IS–LM Functions–– Fiscal and Monetary Policy (Model V)
Aggregate Demand and Supply Analysis
Application of Aggregate Demand, Supply and Phillips Curve
Classical Model
Money and Quantity Theory
Theory of Inflation
Complete Keynesian Model
Consumption Function
Theories of Investment Demand
Demand for Money
Theory of Money Supply
Schools of Thoughts in Macroeconomics
Open Economy Macroeconomics–Concepts and Applications
Accounting of International Linkages–The Balance of Payments
Interactions among Commodity Market, Money Market and External Market
Theories of Economic Growth–Classical and Harrod-Domar
The Neoclassical Growth Model
Theories of Endogenous Growth
Green Macroeconomics


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ISBN: 9789352806973