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Online Instructor’s Manual
By
Frederic S. Mishkin
Columbia University
Martin Pereyra
University of Missouri
For
Macroeconomics: Policy and Practice
Second Edition
Frederic S. Mishkin
Columbia University
Copyright © 2015 Pearson Education, Inc.
This work is protected by United States copyright laws and is provided solely for the use of
instructors in teaching their courses and assessing student learning. Dissemination or sale of
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except by instructors using the accompanying text in their classes. All recipients of this work
are expected to abide by these restrictions and to honor the intended pedagogical purposes and
the needs of other instructors who rely on these materials.
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Copyright © 2015, 2012, Pearson Education, Inc., One Lake Street, Upper Saddle River, New Jersey
07458. All rights reserved. Manufactured in the United States of America. This publication is protected by
Copyright, and permission should be obtained from the publisher prior to any prohibited reproduction,
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Many of the designations by manufacturers and seller to distinguish their products are claimed as
trademarks. Where those designations appear in this book, and the publisher was aware of a trademark
claim, the designations have been printed in initial caps or all caps.
10 9 8 7 6 5 4 3 2 1
ISBN-13: 978-0-13-342444-7
ISBN-10: 0-13-342444-8
Contents
Chapter 1
The Policy and Practice of Macroeconomics ..............................................................
1
Chapter 2
Measuring Macroeconomic Data ................................................................................
13
Chapter 3
Aggregate Production and Productivity ......................................................................
23
Chapter 4
Saving and Investment in Close and Open Economies ...............................................
32
Chapter 5
Money and Inflation ....................................................................................................
44
Chapter 6
The Sources of Growth and the Solow Model ............................................................
57
Chapter 7
Drivers of Growth: Technology, Policy, and Institutions ...........................................
71
Chapter 8
Business Cycles: An Introduction ...............................................................................
81
Chapter 9
The IS Curve ...............................................................................................................
89
Chapter 10
Monetary Policy and Aggregate Demand ...................................................................
97
Chapter 11
Aggregate Supply and the Phillips Curve ...................................................................
109
Chapter 12
The Aggregate Demand and Supply Model ................................................................
120
Chapter 13
Macroeconomic Policy and Aggregate Demand and Supply Analysis .......................
136
Chapter 14
The Financial System and Economic Growth .............................................................
152
Chapter 15
Financial Crises and the Economy ..............................................................................
162
Chapter 16
Fiscal Policy and the Government Budget ..................................................................
174
Chapter 17
Exchange Rates and International Economic Policy ...................................................
190
Chapter 18
Consumption and Saving ............................................................................................
205
Chapter 19
Investment ...................................................................................................................
220
Chapter 20
The Labor Market, Employment, and Unemployment ...............................................
230
Chapter 21
The Role of Expectations in Macroeconomic Policy ..................................................
240
Chapter 22
Modern Business Cycle Theory ..................................................................................
251
Epilogue
Policy and Practice: Where Do Macroeconomists Agree and Disagree?....................
259
Web Chapter
Financial Crises in Emerging Market Economies .......................................................
261
© 2015 Pearson Education, Inc.