Williamson builds a balanced study of macroeconomics upon a firm foundation of microeconomic principles. This approach allows deeper insights into growth processes and business cycles, better integrates the study of macroeconomics with microeconomics, and maintains consistency with current methods of macroeconomic research. The combined result is a better preparation for other courses.
I. INTRODUCTION AND MEASUREMENT ISSUES.1. Introduction.
II. A ONE-PERIOD MODEL OF THE MACROECONOMY.4. Consumer and Firm Behavior: The Work-Leisure Decision and Profit Maximization.
III. ECONOMIC GROWTH.6. Economic Growth: Malthus and Solow.
IV. SAVINGS, GOVERNMENT DEFICITS, AND INVESTMENT.8. A Two-Period Model: The Consumption Savings Decision and Ricardian Equivalence.
V. MONEY AND BUSINESS CYCLES.10. A Monetary Intertemporal Model: The Neutrality of Money, Long-Run Inflation, and Money Demand.
VI. INTERNATIONAL ECONOMICS.13. International Trade in Goods and Assets.
VII. MONEY, BANKING, UNEMPLOYMENT, AND INFLATION.15. Money, Inflation, and Banking.