Macroeconomics

by Felipe Larrain B.

The non-economist’s accessible, pocket-sized refresher on the basics of macroeconomics and how it affects local and global economies—from an academic economist and 2-time Chilean Finance Minister.

Macroeconomics takes a broad perspective on the economy of a country or region; it studies economic changes in the aggregate, collecting data on production, unemployment, inflation, consumption, investment, trade, and other aspects of national and international economic life. Policymakers depend on macroeconomists’ knowledge when making decisions about such issues as taxes and the public budget, monetary and exchange rate policies, and trade policies—all of which, in turn, affect decisions made by individuals and businesses.

This volume in the MIT Press Essential Knowledge series offers an introduction to the basics of macroeconomics accessible to the non-economist. Readers will gain the tools to interpret such economic events as the 2008 financial meltdown, the subsequent euro crisis, and the current protectionist dynamics seen in some developed countries. You’ll also learn about:

• Economic development—why some countries flourish while others reamin stagnant
• Economic activity and employment
• Employment and unemployment rates
• The factors behind economic growth
• Money, inflation, and exchange rate systems
• Fiscal deficits, fiscal policy, and balance of payment crises
• Consumption, savings, and investment decisions
• The process of globalization and its macroeconomic implications

Written by an academic economist and two-time Chilean Finance Minister, this is an easy-to-understand and pocket-sized guide to the fundamentals of macroeconomics.

Paperback | 272 pages | The MIT Press | 2024