The National Academy of Sciences has announced that a new publication of the Princeton macroeconomics textbook, which previously went by the name of NAP Macroeconomics, will be called The World Economy in 2020. According to a press release from the National Academy of Sciences, “The book will provide a deeper understanding of the global economy and the role of central banks.” The release goes on to say, “The authors believe that they have produced a book that will attract more readers than prior editions.”
As far as the contents of this macro economics book are concerned, it is said that it will consist of seven chapters. These chapters, according to the release, will cover the topics as discussed below:
The first chapter of this macroeconomics book will cover how interest rates and fiscal policy affect the country's financial performance. It will also cover the impact of monetary policy, inflation, and unemployment. As far as the other chapters of this book are concerned, they will include discussions on credit constraints, monetary policy, banking, and the business cycle.
According to the National Academy of Sciences, the authors of this macroeconomics book have worked with members of both the Federal Reserve System and the Bank of England to provide the reader with the necessary information and insight. This will be the first edition of the textbook that is produced using these two institutions' official specifications. The National Academy of Sciences expects that the authors of this book will use the standard NAP model in the creation of this macroeconomics book.
In a press release issued by the National Academy of Sciences, the National Bureau of Economic Research has been quoted as saying that this book should be an inspiration to students because it is different from other micro economics books. According to the release, “The authors of the 2020 edition intend to make a more comprehensive and more detailed account of their work that includes more historical data and more contemporary policy models, with each model more fully tested.” The release further adds, “The book will therefore be helpful for undergraduate and graduate students who are interested in the study of global economics.”
According to the National Academy of Sciences, this new edition of the Princeton macroeconomics textbook, as well as the previous editions of this textbook, will continue to remain focused on the study of national economies. However, as long as the National Academy of Sciences expects its readers to learn about international economics through the use of the Internet, it is also said that these books can . . . . . . help students gain a better understanding of the interplay of global economies among nations.