The Economics of Macro Issues: What it covers, how it applies and what it is all about. This edition of the book, which is part of the 8th Edition of the economics of macro topics series, covers the topics of international economics, fiscal policy, public finance, financial institutions, international trade, financial crises, international finance and the role of central banks. The book also discusses the macro-structure of the economy in relation to the micro-economic issues. Many of the topics covered in this edition revolve around the need for central banks to work with a variety of tools to facilitate economic activity.
The author's goal in writing this book was to improve on the previous editions. One of the biggest changes was the use of a new approach to economics that involved a closer look at international trade. The focus on the international trade environment became much more strategic as the author discovered there are actually quite a few different aspects of trade that impact the global economy. There is a great need for global organizations to be flexible and open to new approaches when it comes to the international economy.
There are a number of chapters that cover the key points of this book. The first chapter looks at the international trade policy debate. It then goes into a brief history of how the world economy has changed through the ages. It then examines some of the major changes that occurred when the industrial revolution and trade were created. The second chapter looks at macro-issues and why they are so important for the growth of the global economy.
The next chapter looks at the economic conditions in different countries. The author shows why a country in the middle of the ocean should not be expected to grow and prosper in the same way as a country on land. There are several economic policies that are applicable to both, but the author shows why certain policies are not applicable and why some are the best policies for a particular country.
The fourth chapter deals with monetary policy. It focuses on how the value of the US dollar affects the economies of other countries. It also looks at the differences between long term and short term money and the various ways in which different nations have tried to make their money last longer and more valuable over time.
This is a very detailed and well written book. I enjoyed reading through it. It gives many examples and explains many different issues in a clear and concise manner. It is definitely one of the better books in this series and one that I can recommend to any serious student of economics. The final chapter is a short review of the latest trends and news in the global economy.