Macroeconomics For Mbas And Masters Of Finance

This is a gem of a book. It covers the many things we really know aboutmacroeconomics avoiding pointless coverage of ancient controversies. It usesjust a little... » 

This is a gem of a book. It covers the many things we really know aboutmacroeconomics avoiding pointless coverage of ancient controversies. It usesjust a little algebra and microeconomics to give surprising answers toimportant questions and to solve all sorts of problems that confuse peoplewith verbal analysis. In this way it is a wonderful introduction to the toolsand economic thinking of modern macroeconomics. John H. Cochrane Universityof Chicago This is one of the best introductions to modern macroeconomicsavailable. By going through page by page with pen and paper at hand a readerwill naturally begin to understand how modern economics helps addressingsubstantive questions from economic growth to business cycles and monetarypolicy. Nobuhiro Kiyotaki Princeton University In the concluding section ofmy Nobel lecture I lament the problem in macro that in the past 20 years thegap between research and textbooks has grown wider and wider. Almost allinteresting macroeconomic phenomena are dynamic and that creates a need to beexplicit about forwardlooking peoples decision problems. But its notstraightforward to do dynamics on paper and so most textbooks shy away fromit. In the process students are done a disservice. Morris Davis changes all ofthat. He has succeeded in introducing dynamics in a manageable way. At the sametime the book is fun to read. Whats also interesting is his ability fromtime to time to connect with issues commonly discussed only in finance. FinnE Kydland University of California Santa Barbara Nobel Laureate 2004 MorrisDavis book is a dramatic improvement on what is currently available forteaching aggregate economics to MBAs and advanced undergraduates. It containsimportant sections on asset prices and trade. This book will provide businessstudents with the solid knowledge of macroeconomic fundamentals they will needto succeed in todays globalized economy. Edward C Prescott Arizona StateUniversity Nobel Laureate 2004 «