|
Macroeconomics |  | Authors: Bradford DeLong, Martha Olney
Publisher: McGraw-Hill/Irwin
Buy Used: $68.00
as of 11/23/2009 14:47 CST details
New (8) Used (28) from $68.00
Seller: bay-city-books
Rating:  12 reviews
Sales Rank: 333669
Media: Hardcover
Edition: 2
Pages: 584
Number Of Items: 1
Shipping Weight (lbs): 2.9
Dimensions (in): 10.1 x 8.3 x 1
ISBN: 0072877588
Dewey Decimal Number: 339
EAN: 9780072877588
ASIN: 0072877588
Publication Date: July 12, 2005
Availability: Usually ships in 1-2 business days
| |
| Also Available In:
|
| Accessories:
|
| Similar Items:
| |
| Editorial Reviews:
Product Description
A valuable perspective on global macroeconomics Macroeconomics incorporates a strong international and historical perspective and includes unprecedented coverage on the crucial topic of long-term growth. Mathematics are simplified and kept to a minimum. Extensive use of real-world examples, along with the authors’ significant policy-making experience, strengthen and clarify connections between concepts discussed and the impact of policy decisions on everyday life.
|
| Customer Reviews:
Showing reviews 1-5 of 12
 Good book-- but why you might not like it. April 7, 2007
Ralph Hiesey
5 out of 5 found this review helpful
When I first read the reviews of this book I (also) was puzzled by the great divergence of opinion expressed among some reviewers. After purchasing it (on the recommendation of a professor of economics at UCSC)I found it to be quite a good and relatively clear introduction to macroeconomics. This is from someone who finds many of the economic explanations on Wikipedia quite baffling.
However I have a theory about the cause of the difference of opinion expressed by the reviewers: Although the book claims to only require algebra for understanding the math, I believe that a good familiarity with calculus is very helpful in interpreting much of the mathematical explanation of macroeconomics. This is NOT because the book uses the obvious language of calculus ("derivatives" and "integrals"), but rather because it extensively uses the language of functions--and calculus is generally the first math course that more extensively exercises one's thinking about functions. Macroeconomics is not just about "solving equations", it is about understanding functions and how they interact with each other. Although you could grope through this book without familiarity with calculus I think that my background of calculus helped a lot in making it easier to digest many of the mathematical explanations.
Nevertheless many of his other non mathematical explanations in the earlier part of the book should reward even those without such a background. I thought that is explanations on many topics was quite clear and complete.
Modern Macroeconomics March 21, 2006
W. Chiu (San Francisco, CA)
8 out of 8 found this review helpful
I took Professor Olney's Intermediate Macro class in Berkeley. We used the 1/e of the textbook along with her study guide. Despite the fact that the first edition was filled with typos and mathematical errors (which have been fixed in the 2/e), the intuition, the explanations, and the graphs were clear.
But what truly separates this textbook from every other intermediate macro textbook is the MPRF-PC model that replaces the AD-AS model that you find in most textbooks.
There are several major flaws in the AD-AS model. First, it uses the price level as the adjustment mechanism to equilibrium output. Second, the AD curve assumes a money supply target.
In the United States and in industrialized world, the key variable to emphasize is the inflation rate and NOT the price level. In addition, the Fed uses an interest rate target and NOT a money supply target.
Delong and Olney's book eliminates the silly assumptions that made sense to use 20 years ago, and uses more realistic assumptions to model a complex economy like the United States. There is no other intermediate macro textbook in the market that teaches the Monetary Policy Reaction Function and Phillips Curve model as clearly as Delong and Olney. Period.
 Horrible Book. September 29, 2005
MikeB (Gilroy, CA United States)
0 out of 23 found this review helpful
Beats around the bush. Very wordy. Extremely politically bias. No answers in back of book for problems. This book does not teach what is, but what should be. Normative Economics at its worst.
 Nice piece of work July 28, 2004
Reviewer (Chicago)
6 out of 7 found this review helpful
This intermediate level textbook does an excellent job of covering the subject. DeLong writes well. The book requires the requisite introductory macroeconomics background and some facility with algebra and mathematical functions. Those not possessing that background will most likely find themselves frustrated because of their lack of preparation. Anyone who wants to take their knowledge of macroeconomics to the next level should take a look at the book as a potential guide and source.
Without doubt one of the best on the market November 7, 2003
20 out of 21 found this review helpful
I don't normally bother to review books, but the comments on this book are so bizarre I feel the need to respond. This is a textbook for the intermediate macroeconomics level. Someone coming to this book with no economics background at all might find the book hard going in places, but that is to be expected; it is not intended as a piece of popular writing on economics. I am very familiar with intermediate macroeconomic textbooks -- indeed, I wrote ancillary material for one of the leading textbooks currently on the market -- and I think DeLong's textbook is one of the best books around. For many topics it is *the* best book.
Showing reviews 1-5 of 12
|
|
|
|
Return to Math.com | |
