Table of Contents

Preface

Part One. Introduction

Chapter 1. What Is Macroeconomics?

Chapter 2. The Language of Macroeconomics: The National Income Accounts

Part Two. Economic Growth and The Supply Side

Chapter 3. The Wealth of Nations: The Supply Side

Chapter 4. Capital Accumulation and Economic Growth

Chapter 5. Total Factor Productivity, Human Capital and Technology

Chapter 6. Endogenous Growth and Convergence

Chapter 7. Unemployment and the Labour Market

Chapter 8. International Trade

Chapter 9. Globalization

Part Three. Business Cycles and Economic Policy

Chapter 10. Consumption and Investment

Chapter 11. Business Cycles

Chapter 12. Money and Prices

Chapter 13. Monetary Policy

Chapter 14. Fiscal Policy and the Role of Government

Chapter 15. Stabilization Policy

Part Four. Asset Markets and the Financial Sector

Chapter 16. Financial Markets: Equities and Bonds

Chapter 17. The Banking Sector

Chapter 18. Sovereign Debt and Default

Part Five. Exchange Rates and Global Capital Markets

Chapter 19. Exchange Rate Determination I: The Real Exchange Rate

Chapter 20. Exchange Rate Determination II: Nominal Exchange Rates and Asset Markets

Chapter 21. Currency Crises and Exchange Rate Systems

Glossary

Notes

Index 

About the Author

David Miles is a member of the Bank of England’s interest-rate setting Monetary Policy Committee. He is Visiting Professor at Imperial College, London and former Chief UK Economist of Morgan Stanley. He was Professor of Finance at Imperial College, London.

Andrew Scott is Deputy Dean and Professor of Economics at London Business School, a Fellow of the Centre for Economic Policy Research and Non-Executive Director of the UK’s Financial Services Authority. Previously he was a Fellow at All Souls, Oxford, and held lecturing positions at Harvard University and London School of Economics.

Francis Breedon is Professor of Economics and Finance at Queen Mary, University of London. Previously he was at Imperial College Business School. He has worked as Global Head of Foreign Exchange Research at Lehman Brothers and as a senior economist at the Bank of England.