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Books > Business & Economics > Economics > Macroeconomics
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Business Cycle Theory (Hardcover)
Loot Price: R4,466
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Business Cycle Theory (Hardcover)
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Business cycle theory is a broad and disparate field. Different
schools of thought offer alternative explanations for cycles, often
using different mathematical methods. This book aims to provide
academics and graduate students of economics with a compact and
accessible exposition of business cycle theory since Keynes. The
author places the main theories - Keynesian economics, monetarism,
new classical economics, the real business cycles theory, and new
Keynesian economics - in a historical context by presenting them in
the chronological order of their appearance and highlighting their
differences and commonalities. He minimizes the necessary
mathematical prerequisites by using a unifying mathematical
approach: stochastic second-order difference equations, which is
explained in detail. Throughout the book, the international
dimension of business cycles is acknowledged. The theoretical
results obtained are set alongside empirical facts in separate
boxes. Each chapter finishes with a set of problems designed to
deepen the reader's understanding of the theories presented, and
further reading sections which provide access to related material.
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