Macroeconomics in the Global Economy

Download or read book Macroeconomics in the Global Economy written by Jeffrey Sachs and published by . This book was released on 1993 with total page 806 pages. Available in PDF, EPUB and Kindle. Book excerpt: This textbook is written for the core intermediate macroeconomics course which forms an essential part of all economics degrees. The authors reflect the continually changing debate in macroeconomics by stressing the great variety of possible macroeconomic outcomes, rather than a single theory. More importantly the book reflects a new revolution in macroeconomics that an open economy approach is essential to the study of the subject. The previously ascendant closed economy approaches have ignored the fact that, for many countries, trade and capital flows between countries are a dominant, if not the dominant influence on the national economy.