This short, concrete, and to-the-point book guides students through
this vast field of conflicting opinions. The book starts from the
premise that students benefit most from seeing a balanced treatment
of all available views. For instance, it provides coverage of both
"ad hoc" and optimizing models and also explores divisions such as
flexible price versus sticky price models, rationality versus
irrationality, and calibration versus statistical inference. By
giving consideration to each of these 'mini debates, ' this book
shows how each approach has its good and bad points. "
International Macroeconomics and Finance" also excels in its
integration of theoretical and empirical issues: the theory is
introduced by developing the canonical model in a topic area and
then its predictions are evaluated quantitatively. Both the
calibration method and standard econometric methods are
covered.
To avoid the 'black-box' perception that students sometimes
develop, almost all of the results presented here are derived
step-by-step from first principles. A conversational, logical
presentation also makes this a supreme learning tool.
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