MACROECONOMICS

A comprehensive textbook for first-year Ph.D. courses in macroeconomics.

M. Azzimonti, P. Krusell, A. McKay, and T. Mukoyama

with T. Boppart, G. Corsetti, L. Dedola, J. Hassler, J. C. Hatchondo, J. Heathcote, A. Hornstein, P. Klenow, S. Lloyd, L. Martinez, K. Mitman, C. Olovsson, M. Piazzesi, V. Quadrini, M. Ravn, R. Rogerson, V. Rios-Rull, A. Sahin, M. Schneider, K. Storesletten, and G. Violante.

Table of Contents

Our Approach

The book presents modeling and analytical tools of macroeconomic analysis and then applies them to the main topics within the field of macroeconomics.

Data Driven – A key feature is that we make explicit connection with data throughout the book. Macro theory is used to interpret the data.
Research Orientated – The book has the rigor of a Ph.D. course, but the material is presented in an accessible way, making it suitable to a wide range of students, including those in MA and MS courses.
Expert Led – The material in the book represents the state of the art knowledge of the field. Chapters 1-9 are written by the core authors. Chapters 10-24 are written by or co-authored with leading experts on particular topics.

Chapters

The first 9 chapters discuss core topics typically covered in a first-semester graduate macroeconomics sequence. A subset of the following chapters are usually covered in the second semester. They are self-contained, providing versatility to instructors to choose which material to focus one, while at the same time connecting concepts to the first section of the book.

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Appendices and Other Material

Proofs and additional material is placed in chapter appendices. These are intended to expand on the topic for students and instructors who are interested in going in depth.

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Latest News

We’ve added a Tools chapter with Continuous Time and Computational Methods

“The consequences for human welfare involved in questions like these are simply staggering: once one starts to think about them, it is hard to think about anything else.”

ROBERT LUCAS, On the Mechanics of Economic Development, Nobel Prize Winner