Money in the Macroeconomy by Martin F. J. Prachowny - 9780521315944

Money in the MacroeconomyAuthor(s): Martin F. J. Prachowny\nFormat: Paperback\nPublisher: Cambridge University Press, United Kingdom\nImprint: Cambridge University Press\nISBN-13: 9780521315944, 978-0521315944\nSynopsis\nThis is a textbook designed for senior undergraduate courses in monetary economics, advanced macroeconomics, or macroeconomic policy. Students will feel comfortable with this material if they have completed an intermediate course in macroeconomics, relying on one of the more demanding texts in this field. The prime focus of the book is on the role of money in the macroeconomy and on the place of monetary policy as an instrument for controlling inflation and unemployment. There are only three important macrovariables that are features: the rate of inflation, the interest rate, and output or income. Behavioural relationships in the goods, money, and labor markets determine these variables, using only the now common IS-LM-AS model. The model is not ideological, but oppo.