Nelson Higher Education

Higher Education

Macroeconomics: A Modern Approach, 1st Edition

  • Robert J. Barro
  • Apostolos Serletis
  • ISBN-10: 0176500588
  • ISBN-13: 9780176500580
  • 0 Pages | Hardcover
  • COPYRIGHT: 2010 Published
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About the Product

Offering a uniquely modern presentation of macroeconomics, this Canadian text makes it easy for instructors to emphasize a solid microfoundations, real-business cycle approach. In the all-new Macroeconomics: A Modern Approach, First Canadian Edition, leading economists Robert J. Barro and Paul Serletis couple an extraordinary command of growth, equilibrium, and business cycles with a focus on microfoundations to create a groundbreaking new macroeconomics textbook steeped in real-world application. Accessibly written and extremely student friendly, the book is packed with current Canadian and global policy and data examples, reflecting the author's extensive research in the field. The book also includes captivating boxed features, challenging exercises, and innovative online resources. Covering growth theory more completely than any other text, Macroeconomics delivers a unified model of macroeconomics that serves well for economics majors and non-majors alike.


  • Canadian Focus: While Macroeconomics 1ce examines the global economy, it provides you with insight into the Canadian economic system and in particular, discusses recent development related to Canadian monetary theory and policy.

  • Real-World Emphasis: Three exciting boxed features support the book's modern, accessible approach to macro theory: "Do the Math" boxes ensure that you fully grasp the algebra used. "By the Numbers" illustrates empirical data and how it is used in real-world practice by actual macroeconomists."Back to Reality" features spotlight theory in action through intriguing historical and policy examples.

  • Hands-On Application: Throughout the text, you are challenged to apply what you've learned. End-of-chapter review questions and problems for discussion reinforce the key concepts and spark lively discussions, while figures, graphs, and data demonstrate how theoretical models are built and tested. There are many online activities as well.

About the Author

Robert J. Barro

Born in New York City, Robert Barro moved to Los Angeles, where he studied undergraduate physics at Caltech, including classes from the famous Richard Feynman. He changed his focus to economics for graduate school at Harvard University. Dr. Barro returned to Harvard as a professor in 1987. He served as president of the Western Economic Association and vice president of the American Economic Association. In addition to academic research, Professor Barro is an accomplished writer for the popular press. He worked as a viewpoint columnist for BUSINESSWEEK from 1998 to 2006 and contributing editor of THE WALL STREET JOURNAL from 1991 to 1998.

Apostolos Serletis

Apostolos Serletis is a Full Professor at the University of Calgary where he currently holds the University Research Chair. He is the Canadian Author on the market leading Money and Banking textbook published by Pearson; authored with Frederic Mishkin of Columbia University. His areas of expertise are in the areas of Macroeconomics and Monetary Theory/Policy. He is currently the Associate Editor of the Journal of Macroeconomics Dynamics and his current research interests are on Flexible Functional Forms, Demand Systems, and Monetary Aggregation Issues. In addition to a number of books, Professor Serletis has authored over 100 articles published in various academic journals.

Table of Contents

Preface viii
Author xx

Part One: Introduction
Chapter 1: Thinking about Macroeconomics
Chapter 2: National Income Accounting: Gross Domestic Product and the Price Level

Part Two: Economic Growth
Chapter 3: Introduction to Economic Growth
Chapter 4: Working with the Solow Growth Model
Chapter 5: Conditional Convergence and Long-Run Economic Growth

Part Three: Economic Fluctuations
Chapter 6: Markets, Prices, Supply and Demand
Chapter 7: Consumption, Saving and Investment
Chapter 8: An Equilibrium Business Cycle Model
Chapter 9: Capital Utilization and Unemployment

Part Four: Money and Prices
Chapter 10: The Demand for Money and the Price Level
Chapter 11: Inflation, Money Growth and the Interest Rates

Part Five: The Government Factor
Chapter 12: Government Expenditure
Chapter 13: Taxes
Chapter 14: Public Debt

Part Six: Money and Business Cycles
Chapter 15: Money and Business Cycles I: The Price-Misperceptions Model
Chapter 16: Money and Business Cycles II: Sticky Prices and Nominal Wage Rates

Part Seven: International Macroeconomics
Chapter 17: World Markets in Goods and Credit
Chapter 18: Exchange Rates



All supplements have been updated in coordination with the Main title.
Please see Main title page for new to this edition information.

Instructor Supplements

Instructor's Resource CD for Macroeconomics  (ISBN-10: 0176475273 | ISBN-13: 9780176475277)