This book offers an excellent survey of various macroeconomic topics that feature prominently in the research agenda and have inspired both theoretical and policy debate. The book presents an authoritative and comprehensive summary and original critique of macroeconomic approaches by a scholar whose own contribution to the field is considerable.
In each of his seven chapters, the author reviews one school of economic thought. These are: the Keynesian school of macroeconomics; the monetarist school; the New Classical school; the New-Keynesian school; supply side macroeconomics, and `non-monetary' models of macroeconomics - the real business cycle theory and the `structuralist school' which views changes in unemployment as the outcome of shifts in the structural characteristics of the economy.
Edmund Phelps is McVickar Professor of Political Economy at Columbia University and Director of Columbia's Center on Capitalism and Society. He was the winner of the 2006 Nobel Prize in Economics. He holds many honorary doctorates and professorships, including from the Universite libre de Bruxelles, Tsinghua University, and the Institut d'Etudes Politiques de Paris. He is a Fellow of the National Academy of Science and a Distinguished Fellow of the American Economic Association. In 2008, he was named Chevalier de la Legion d'Honneur and awarded the Premio Pico della Mirandola and the Kiel Global Economy Prize. In 2010, he was appointed Dean of New Huadu Business School at Minjiang University. In 2011, he received the Louise Blouin Creative Leadership Award and was named a Full Foreign Member of the Russian Academy of Sciences and in 2012 he was elected an Honorary Patron of the University Philosophical Society of Trinity College and was awarded the Mendeleev Medal for Achievement in the Scien
1. The Macroneconomics of Keynes ; 2. The Monetarist Tradition ; 3. The New Classical School ; 4. The New Keynesian School ; 5. Supply-side Macroeconomics ; 6. Neclassical and Neo-Neoclassical Real Business Cycle Theory ; 7. Non-Monetary Theories of Unemployent Fluctuation: The Structuralist School