Macroeconomics: Theories and Applications for Emerging Economies

A comprehensive text on macroeconomic theories with reference to developing economies. This new textbook presents macroeconomic theory and its implications in policy formulation in a unique manner, continuously weaving in scenarios from India and other emerging economies. While the book meticulously guides the reader through the workings of key macroeconomic models, it also discusses at length the assumptions that make the models applicable to developing market nations. It offers interesting insights into the Simple Keynesian Cross Model, international capital movement and different schools of macroeconomic thought, and compares macroeconomic models of developed and developing economies. Key Features: · Boxed text highlighting experiences of emerging market economies and demonstrating the role of macroeconomic theory in policy implications · Use of charts and tables with current data for better comprehension and illustration of the theories and inter-linkages of macroeconomic forces · Theoretical content of each chapter is illustrated and supplemented by relatable examples and case studies based on policies undertaken by the Indian economy · A must-have companion for students of economics, policy studies, management, administrative services, commerce and others

Table of Contents:
Foreword Preface and Acknowledgements Introduction to Macroeconomics National Income Accounts: The Toolbox for Macroeconomics The Basic Keynesian Demand Model and the Hidden Cross Economic Growth Introduction to the Financial Sector: Bonds and Interest Rates Money, Money Supply and the Banking System The Demand for Money The IS-LM Model: The Demand Side of the Economy The IS-LM Model: Fiscal Policy and Compatibility with the Keynesian Model Monetary Policy, the Policy Mix and Constraints on Policy-making Consumption and Investment Demand The Role of the Government and the Government Budget Balance The Supply Side: A Complete Macroeconomic Model of the Economy The Budget: Links to Unemployment, Inflation and the Debt Burden The Open Economy Capital Mobility Determination of Exchange Rates in an Open Economy Business Cycle Theory The Labour Market as the Kingpin: The Various Schools of Macroeconomic Thought Disaggregated Multi-sector Models for Industrial Nations and Developing Countries Index

About the Author :
Sreejata Banerjee began her teaching career from Stella Maris College after completing her PhD from the University of Madras. She taught at postgraduate level from 1993 in various colleges and institutes in Chennai. She taught economics and finance at the Edinburgh Business School of the Herriot-Watt University. She was a visiting faculty at Loyola Business School and Great Lakes Institute of Management, teaching macroeconomics, international finance and capital markets. Since 2000, she has been associated with Madras School of Economics (MSE) where she was the Union Bank Chair until 2013. She is a visiting professor at MSE where she teaches derivatives, financial economics and financial regulation. Currently, she teaches financial mathematics in the Master in Application of Mathematics programme at Chennai Mathematical Institute as an adjunct professor. Her research articles have been published in national and international journals, and she has contributed to edited volumes; she is also a reviewer for Taylor and Francis Publications, SAGE Publications, Oxford University Press and National Council of Applied Economic Research (NCAER) among others. She has also organized training programmes for bank managers, corporate executives and entrepreneurs. She is an adapted volume author of Managerial Economics: Economic Tools for Today’s Managers, 7th edition, which is forthcoming. She has presented research papers at several national and international conferences in India and abroad. P. Nandakumar Warrier received an MBA degree from Case Western Reserve University, Cleveland, Ohio and a PhD from Stockholm University, Stockholm and has been associated with several research organizations in India and abroad. He has worked at the Institute for International Economic Studies, Stockholm University; the Department of Economics at Stockholm University; the National Institute of Economic Research, Stockholm; the School of Business Economics, Södertörns Högskola, Stockholm; Sultan Qaboos University, Muscat, Oman; Centre for Development Studies (CDS), Trivandrum; Indira Gandhi Institute of Development Research (IGIDR), Mumbai; Madras School of Economics; and the Indian Institute of Management Kozhikode (IIMK). After retiring from regular service at IIMK, he has been a regular visitor at the School of Business Economics, Södertörns Högskola, Stockholm. His research articles have appeared in journals published from India, the USA, the UK, Germany and Greece.