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Title: Macroeconomy, The: Private Choices, Public Actions, and Aggregate Outcomes by Michael B. McElroy ISBN: 0-02-378801-1 Publisher: Pearson Education POD Pub. Date: 12 December, 1995 Format: Paperback Volumes: 1 List Price(USD): $95.00

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Average Customer Rating: 4.33 (3 reviews)

Rating: 4
Summary: A good book but requires a little more balance
Comment: This is a good book at an intermediate level. It attempts to discuss the main macroeconomic issues, with an emphasis on the analysis underlying the policies. The book is written with clarity and is user-friendly.

The balance of the analysis appears to be tilted towards the monetarist school, especially in the discussion of inflation and the "natural" rate of unemployment. McElroy regards this as the mainstream view, and underemphasizes opposing approaches, especially the Keynesian. In doing this, he disregards some crucial questions, such as how would we know we were at the "natural" rate, and also the empirical fact that estimates of the natural rate have differed so much as to be professionally embarrassing.

This is, nevertheless, a book that is well worth reading. I hope that subsequent editions will rectify the balance of the policy discussions. The book would also gain by an enlarged examination of empirical studies of the concepts discussed.

Rating: 5
Summary: A very good textbook to lear Macroeconomics
Comment: Although this book is an intermediate textbook for macroeconomics, it is more integrated and analytical than other similar textbooks. The book seems a little harder to read than some books, but it can provide you a more solid background and a better understanding for macroeconomics. It has very clear theme underlying the book: first lets you know the models and then tells you how to use the models to analyze the macroeconomic problems. keynesian theory is the focus of the book. Finallly, if the book can include more case study, it would be better.

Rating: 4
Summary: A great way to learn the intricacies of the economy
Comment: McElroy presents great examples and real world ideas to the subject. Using technical analysis as well as the topics that are interesting to us all, he makes the subject very well rounded.