Output, Inflation and Growth: An Introduction to Macroeconomics

Front Matter....Pages i-xvi
Front Matter....Pages 1-1
The Scope of the Book....Pages 3-8
The Process of Economic Analysis....Pages 9-19
Definition of Concepts and Measurement of Output....Pages 20-27
National Income and National Product....Pages 28-44
Output and Capacity....Pages 45-54
A Sketch of British Economic Experience....Pages 55-79
Analytical and Expository Devices....Pages 80-103
Front Matter....Pages 105-105
The Determination of Equilibrium Output....Pages 107-121
The Consumption Function and the Multiplier....Pages 122-140
The Investment Function....Pages 141-161
Liquidity Preference and the Theory of Interest....Pages 162-184
The Theory of Income Determination....Pages 185-195
The Public Sector....Pages 196-207
The International Sector....Pages 208-223
The International Sector and Flexible Rates....Pages 224-244
The Theory of the Price Level....Pages 245-280
Aggregate Supply: A Further Look....Pages 281-290
Front Matter....Pages 291-291
The Quantity Theory of Money....Pages 293-305
Monetarist Macroeconomics....Pages 306-321
Keynes, the Classics and the ‘New Classicism’....Pages 322-339
Front Matter....Pages 341-341
Economic Growth....Pages 343-357
Fluctuations in Economic Activity....Pages 358-381
Rising Prices and Inflation....Pages 382-402
Front Matter....Pages 403-403
Money, Debt and Liquidity....Pages 405-416
Commercial Banks and the Money Supply....Pages 417-429
Central Banking and the Money Supply....Pages 430-451
More About the Money Supply: The Formation Table Approach....Pages 452-461
Front Matter....Pages 463-463
Economic Analysis and Economic Policy....Pages 465-478
Macroeconomic Models in the UK....Pages 479-495
Macroeconomic Policy: Two Approaches....Pages 496-508
Back Matter....Pages 509-517