Common Sense Macroeconomics

Dr Ravi Batra, a professor of economics at Southern Methodist University, Dallas, is the author of five international best sellers. He was the chairperson of his department from 1977 to 1980. In October 1978, because of dozens of publications in top journals such as the American Economic Review, Journal of Political Economy, Econometrica, Journal of Economic Theory, Review of Economic Studies, among others, Batra was ranked third in a group of 46 "superstar economists," selected from all the American and Canadian universities by an article in the learned journal, Economic Enquiry. In 1990, the Italian prime minister awarded him a Medal of the Italian Senate for writing a book that correctly predicted the downfall of Soviet communism, fifteen years before it happened.Dr Batra has been written up in major newspapers and magazines, such as the New York Times, Washington Post, USA Today, Time, Newsweek, the US News and World Report, and appeared on all major networks including CBS, NBC, CNN, ABC, CNBC, among others. In 2009, Batra received the Pratima and Navin Doshi Award for his contributions to economic analysis.In June 2015, the President of Iceland invited him to share his views about the eradication of poverty. His latest book is: End Unemployment Now: How to Eliminate Joblessness, Debt and Poverty Despite Congress.

"This plain-language introduction for students seeks to simplify arguments and avoid unnecessary complications. It begins with microeconomic foundations, general standard of living, and GDP accounting. Later chapters are devoted to classical, neoclassical, Keynesian, neo-Keynesian, and classic-Keynesian models at micro and macro levels. Further chapters explain stock market bubbles and crashes, the wage gap, global imbalances and poverty, growth cycles, and the supply of money. A final chapter suggests economic reform for ethical economic policy, with suggestions such as raising the minimum wage and enforcing anti-trust laws. Color charts and graphs are included."; Eithne O'Leyne; Ringgold Inc. Portland;

• Preface; About the Author; Acknowledgments; Introduction: Microeconomic Foundations and Common Sense; The General Standard of Living; GDP Accounting; The Classical Micro Model; The Classical Macro Model; The Neoclassical Model; The Keynesian Model; The Neo-Keynesian Model; A Classi-Keynesian Model; The Anatomy of Stock Market Bubbles and Crashes; Wage Gap, Global Imbalances and Poverty; Long-Run Growth and Growth Cycles; The Supply of Money; An Open Economy; Economic Reform; Bibliography; Index;