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Title: Macroeconomics - 5th Edition by Robert J. Barro ISBN: 0-262-02436-5 Publisher: MIT Press Pub. Date: 08 October, 1997 Format: Hardcover Volumes: 1 List Price(USD): $80.00 |
Average Customer Rating: 3.75 (4 reviews)
Rating: 2
Summary: Get Paul Krugman's book instead...
Comment: If you want "zero government free-market" philosophy, read R.J. Barro's book. As a member of the conservative Hoover Institution he contaminates every single of his books (this is no exception) with his "religious beliefs".
If you want a good book on Macroeconomics, I'd suggest Krugman's instead (or perhaps in addition to this, to compare viewpoints).
Paul Krugman is much more balanced than Mr. Barro. Don't believe me? get both books and judge for yourself. Krugman's book is available at:
http://www.amazon.com/exec/obidos/ASIN/0321033876/
Rating: 5
Summary: Amending an earlier review: This book is excellent
Comment: A few years ago I dashed off a review of Barro's text in a huff; it had failed me in preparing independently for the AP economics exams and therefore was to be condemned. But new evidence must lead one to change one's mind, and now I must recognize Barro's book for the great effort it is. Truly the work of one of the world's best neoclassical macroeconomists, it cannot be evaluated fairly with the meterstick of the Advanced Placement examinations (perhaps if they didn't drill Keynesianism into all of us at such an impressionable age we would emerge a great deal less confused later).
Barro begins with a survey of the United States economy, the history of all the standard macroeconomic variables, and the micro foundations of macro analysis, including such staples as the permanent income hypothesis, labor as a choice between remunerated work and leisure, and utility maximization. From this springboard more complicated phenomena like business cycles, capital markets, money and banking, inflation, and government intervention can be understood. The book culminates with a dressing-down of the Keynesian model's explanation of responses to external shocks and a demonstration of the advantages the neoclassical model has in explaining such shocks.
All the while, Barro takes the time to show how empirical evidence stacks up against theory, with much drawn from his own seminal work. He does not belabor the reader with excessive mathematical formulations; usually some shorthand equations are sufficient to explain which variables are involved, and whether they are related positively or negatively to the result. He is also adept at translating mathematical into diagrammatical analysis--a real boon, since any good economist must be adept at both. Why wait until graduate school for that?
Unfortunately, the book occupies that awkward purgatory between an intro principles book and a rigorous upper-level text replete with explicit theory and mind-numbing equations galore. So it is an excellent "intermediate" macroeconomics text which will hopefully be supplemented in lecture by a responsible professor. Responsible enough, that is, to not be ashamed of neoclassicism (unlike a previous reviewer crying 'ideologue') and to give his students a thorough exposition of the (for better or for worse) leading paradigm in economic analysis.
Rating: 3
Summary: Low Math Level
Comment: If Prof. Barro have time, having a more advanced level book (i.e., with more rigorous math treatment) written would be highly appreciate.
Law Ka Chung
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Title: Study Guide to Accompany Macroeconomics - 5th Edition by Robert J. Barro ISBN: 026268103X Publisher: MIT Press Pub. Date: 15 September, 1998 List Price(USD): $24.00 |
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Title: Economics of Money, Banking, and Financial Markets, Update Edition, The (6th Edition) by Frederic S. Mishkin ISBN: 0321113624 Publisher: Pearson Addison Wesley Pub. Date: 02 July, 2002 List Price(USD): $119.00 |
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Title: Advanced Macroeconomics by David Romer ISBN: 0072318554 Publisher: McGraw-Hill/Irwin Pub. Date: 20 December, 2000 List Price(USD): $70.30 |
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Title: Microeconomics (5th Edition) by Robert S. Pindyck, Daniel L. Rubinfeld ISBN: 0130165832 Publisher: Prentice Hall Pub. Date: 27 July, 2000 List Price(USD): $125.00 |
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Title: Intermediate Microeconomics: A Modern Approach, Sixth Edition by Hal R. Varian ISBN: 0393978303 Publisher: W.W. Norton & Company Pub. Date: June, 2002 List Price(USD): $122.15 |
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