Standard macroeconomic models are represented in a wholly new
causal manner using flowgraphs. This mode of analysis is unique to
this book within the realm of economics. It brings with it new
insights and analytical potential not available elsewhere. The
simple graphical methods are carefully explained in an introductory
chapter and applied to well known models such as IS-LM, AS-AD and
open economy (Mundell-Fleming) models. Macroeconomic models with
varying price levels and inflation, including rational expectations
models, are also treated in the new representation. The book aims
to equip readers with a simple but powerful analytical tool to
complement the standard methods of analysis presented in
intermediate level undergraduate textbooks. The author's website
(geoffwyatt.com) has further details and includes a facility for
creating, manipulating and solving flowgraph models on a computer
screen.
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