A concise guide to macroeconomics : what managers, executives, and students need to know / David A. Moss.

Format:

Book

Author/Creator:

Moss, David A., 1964-

Language:

English

Subjects (All):

Macroeconomics.

Economic policy.

Economic development.

Monetary policy--United States.

Monetary policy.

United States.

Physical Description:

x, 211 pages : illustrations ; 25 cm

Edition:

Second edition.

Place of Publication:

Boston, Masschusetts : Harvard Business Review Press, [2014]

Summary:

"In this revised and updated edition of A Concise Guide to Macroeconomics, David A. Moss draws on his years of teaching at Harvard Business School to explain important macro concepts using clear and engaging language. This guidebook covers the essentials of macroeconomics and examines, in a simple and intuitive way, the core ideas of output, money, and expectations. Early chapters leave you with an understanding of everything from fiscal policy and central banking to business cycles and international trade. Later chapters provide a brief monetary history of the United States as well as the basics of macroeconomic accounting. You'll learn why countries trade, why exchange rates move, and what makes an economy grow. Moss's detailed examples will arm you with a clear picture of how the economy works and how key variables impact business and will equip you to anticipate and respond to major macroeconomic events, such as a sudden depreciation of the real exchange rate or a steep hike in the federal funds rate. Read this book from start to finish for a complete overview of macroeconomics, or use it as a reference when you're confronted with specific challenges, like the need to make sense of monetary policy or to read a balance of payments statement. Either way, you'll come away with a broad understanding of the subject and its key pieces, and you'll be empowered to make smarter business decisions."-- Provided by publisher.

Contents:

Part I Understanding the Macro Economy

1 Output 7

Measuring National Output 8

Exchange of Output across Countries 11

What Makes Output Go Up and Down? 18

Isn't Wealth More Important Than Output? 27

2 Money 33

Money and Its Effect on Interest Rates, Exchange Rates, and Inflation 34

Nominal versus Real 39

Money and Banking 55

The Art and Science of Central Banking 58

3 Expectations

Expectations and Inflation 68

Expectations and Output 73

Expectations and Other Macro Variables 83

Part II Selected Topics-Background and Mechanics

4 A Short History of Money and Monetary

Policy in the United States 89

Defining the Unit of Account and the Price of Money 90

The Gold Standard: A Self-Regulating Mechanism? 91

The Creation of the Federal Reserve 93

Finding the Right Monetary Rule under a Floating Exchange Rate 95

The Transformation of American Monetary Policy 98

5 The Fundamental of GDP Accounting 101

Three Measurement Approaches 102

The Nuts and Bolts of the Expenditure Method 103

Depreciation 106

GDP versus GNP 107

Historical and Cross-Country Comparisons 108

Investment, Savings, and Foreign Borrowing 111

6 Reading a Balance of Payments Statement 117

A Typical Balance of Payments Statement 118

Understanding Credits and Debits 120

The Power and Pitfalls of BOP Accounting 124

7 Undersanding Exchange Rates 131

The Current Account Balance 131

Inflation and Purchasing Power Parity 133

Interest Rates 134

Making Sense of Exchange Rates 135.

Notes:

Includes bibliographical references and index.

ISBN:

9781625271969

1625271964

OCLC:

880929677