Macroeconomics in ecological context / Karl Seeley.

Format:

Book

Author/Creator:

Seeley, Karl H., author.

Series:

Studies in ecological economics ; 1389-6954 volume 5.

Studies in ecological economics, 1389-6954 ; volume 5

Language:

English

Subjects (All):

Macroeconomics.

Environmental economics.

Ecology--Economic aspects.

Ecology.

Physical Description:

xx, 374 pages : illustrations ; 25 cm.

Place of Publication:

Cham, Switzerland : Springer, [2017]

Summary:

Natural resources have been a recurring subject of public interest, from the environmental awakening in and the oil crises of the later 20th century, to wide swings in oil prices and increased concern about climate change in the first decades of the 21st century. Standard macroeconomics books treat resources in passing, in an ad hoc manner, if at all. This text integrates resources into the model from the ground up, allowing a more logically consistent understanding of the economic effects of changed resource availability. But the underlying structure remains mostly traditional: a full-employment perspective on the long run and a Keynesian approach to business-cycle fluctuations. This provides an easier adaptation for instructors and gives students the tools to understand economic analysis done in a more conventional framework. The business-cycle material starts with a "natural history" of money to help students see the connections between social and physical phenomena.

Contents:

Part I Building Blocks

1. The Economy in the World

2. Resources and Economic Processes

3. Key Variables

Part II The Long-run Model

4. Labor, Resources, and the Production Function

5. The Composition of Output

6. The Long-run Model (the Classical World). 7. Growth with Abundant Resources

Part III Business Cycles

8. A natural history of money

9. What Money Is

10 Banking

11. Expenditure Multipliers

12. Monetary Policy

13. Fiscal Policy

14. The IS and LM Curves

15. Policy and Shocks in the IS-LM World

16. Short-run Aggregate Supply / Aggregate Demand and Policy

17 Policy Assessment

Part IV Macroeconomics in a constrained world

18. The Standard Model and Alternative Perspectives

19. Resource Constraints

20. Growth under Resource Constraints

21. Business Cycles under Resource Constraints

22. Continuity and New Directions.

Notes:

Includes bibliographical references and index.

ISBN:

3319517554

9783319517551

OCLC:

965353735