《经济学 英文第2版》

1 The essence of the economy: an overview1

Business and the economy1

Introducing the macroeconomic environment of business2

The economic problem6

Government and the economy9

Government economic objectives12

Economic targets and instruments13

The structure of this book13

2 Developments in the international economy15

International economic performance: an historical perspective15

Drivers of global economic performance19

International economic performance in the 1990s24

Future challenges for the global economy29

Concluding remarks32

3 Understanding economic flows33

The essence of economic flows33

The measurement of economic activity35

Problems in calculating economic activity38

Compilation and uses of national income accounts41

A model of national income determination43

Concluding remarks49

Keynesians versus monetarists: an overview50

4 National income determination50

The essence of national income determination50

The components of aggregate demand52

Consumer spending and savings53

Investment expenditure56

Government expenditure57

Export and import expenditure58

Deflationary and inflationary gaps59

Measuring the impact of changes in aggregate demand: the multiplier64

The importance of the national income multiplier67

The accelerator principle68

The business cycle70

Concluding remarks72

5 Management of the economy I: Fiscal policy74

The essence of fiscal policy74

Problems with fine-tuning aggregate demand76

Public finance78

Government borrowing86

Criticisms of fiscal policy and deficit financing89

Concluding remarks91

The essence of monetary policy93

6 Management of the economy II: Monetary policy93

Principles of monetarism94

Measuring the money supply97

Targeting the money supply105

Criticisms of monetarism109

The effects of monetary policy on business115

Concluding remarks117

7 Supply-side economics119

The essence of supply--side economics119

The principles of supply-side economics120

Supply-side economics in practice125

Notes136

Concluding remarks136

8 International trade137

The essence of international trade137

The principle of comparative advantage-an argument for free trade139

Further arguments for free trade142

Protectionism in international trade143

The balance of payments149

Management of current account imbalances153

Concluding remarks155

The essence of exchange rate policy157

9 Exchange rate policy157

Exchange rate systems158

Exchange rate systems compared165

The determination of exchange rates169

Exchange rates and the balance of payments172

Exchange rates and business174

Concluding remarks176

Note177

10 Case studies178

1 Determination of economic activity178

2 The relationship between inflation and unemployment179

3 Prospects for European Economic and Monetary Union184

4 The international debt crisis187

5 Analysis of the US twin deficits190

6 Linkages between money, output, prices and interest rates194

7 Outlook for the economy196

Appendix: Sources of economic data for managers204

UK sources204

International sources206

Further reading208

Index211