Macroeconomics in Context

Sebastian Dullien is Professor for International Economics at HTW Berlin, University of Applied Sciences, and Senior Policy Fellow at the European Council on Foreign Relations. Prior to his appointment to the university in 2007, he worked in several positions, including economics editor for the Financial Times Deutschland, the German-language edition of the Financial Times. He has advised a number of ministries, members of the German and European Parliament, and several organizations of the United Nations.Neva Goodwin is Co-Director of the Global Development and Environment Institute (GDAE) at Tufts University, where she is the director of the electronic Social Science Library: Frontier Thinking in Sustainable Development and Human Well-Being. Goodwin works toward a contextual economics theory that will have more relevance to contemporary real-world social and ecological concerns than the dominant economic paradigm does. Jonathan M. Harris is Director of the Theory and Education Program at the Tufts University Global Development and Environment Institute, USA. His current research focuses on the implications of large-scale environmental problems, especially global climate change, for macroeconomic theory and policy.Julie A. Nelson is Professor of Economics at the University of Massachusetts Boston and Senior Research Fellow at the Global Development and Environment Institute at Tufts University, USA. Many of her books and articles critique economic methodology from a feminist perspective. She has published in journals ranging from Econometrica and the Journal of Political Economy to Hypatia: Journal of Feminist Philosophy and Ecological Economics.Brian Roach is Senior Research Associate at the Tufts University Global Development and Environment Institute and a lecturer at Tufts and Brandeis University, USA. He has published numerous articles on nonmarket valuation of natural resources, including drinking water quality, water-based recreation, and wildlife. Mariano Torras teaches economics at Adelphi University in Garden City, New York, USA. A heterodox economist who specializes in ecological and development economics, Torras’s recent research has been in the areas of institutional economics and economic methodology; particular attention has been on approaches to addressing climate change.

"Macroeconomics in Context excels at presenting macroeconomic theory in a way that students can understand. As a bonus, it exposes students to issues--such as the environmental costs of production and the wider determinants of well-being--that soon will be at the center of economic policy-making." -- Eric Nilsson, California State University, San Bernardino"Macroeconomics in Context is the best text I've seen for undergraduate teaching. By paying attention to the challenges we face today, such as environmental degradation and social issues, it lets students readily see why [the subject of] economics is important to learn. This text gives students the basics while raising questions about how we can do better." -- Valerie A. Luzadis, SUNY College of Environmental Science and Forestry, Syracuse"After reviewing fourteen macroeconomics textbooks, looking for an alternative to obsolete ideas of infinite GDP growth with little consideration of environmental or social costs, I selected Macroeconomics in Context. ... This was the only book I found that covers mainstream theory while putting it into a social and environmental context--a much needed updated approach to macroeconomics." -- Gary Flomenhoft, University of Vermont"I like this text very much. I like that environmental concerns are part of the discussion. I also like the no-frills presentation and the low price." -- Tom White, Assumption College (on the previous edition)

• IntroductionSample Course OutlinesPART I The Context for Economic Analysis 0. Macroeconomics and Well-Being 1. Economic Activity in Context2. Useful Tools and Concepts3. What Economies Do4. Supply and Demand PART II Macroeconomic Basics5. Macroeconomic Measurement: The Current Approach6. Macroeconomic Measurement: Environmental and Social Dimensions7. The Structure of the European Economy 8. Employment, Unemployment, and WagesPART III Macroeconomic Theory and Policy 9. Aggregate Demand and Economic Fluctuations10. Fiscal Policy11. Money, Banking, and Finance12. The European Central Bank and Monetary Policy 13. Aggregate Supply, Aggregate Demand, and Inflation: Putting It All Together14. International Linkages and Economic PolicyPART IV Macroeconomic Issues and Applications15. The Financial Crisis and the Great Recession16. Deficits and Debt17. The Euro Crisis18. How Economies Grow and Develop19. Growth and Sustainability in the Twenty-First Century