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Macroeconomics, by J. Bradford De Long, Bradford DeLong
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A one-term intermediate macroeconomics course at the undergraduate level or a first course in macroeconomics at the MBA level. The course is taught in departments of economics. Brad DeLong's Macroeconomics offers a new approach to the subject. His lively text is modern, provides extensive insight into economic policy, incorporates a strong international perspective, and offers a broad historical perspective.
- Sales Rank: #4188504 in Books
- Published on: 2001-10-12
- Original language: English
- Number of items: 1
- Dimensions: 10.00" h x 8.25" w x .75" l, 1.10 pounds
- Binding: Hardcover
- 552 pages
About the Author
J. Bradford DeLong is a professor at the University of California–Berkeley.
Martha L. Olney is an adjunct professor at the University of California–Berkeley.
Most helpful customer reviews
49 of 51 people found the following review helpful.
I would put most low reviews of this work down to politics
By A Customer
This is an excellent intermediate Macro textbook, and the writing style is more acessible than one usually encounters at this level of economics.
The theory is up-to-date and couched in less political dogma than similar products from other sources.
This is not an introduction to Macro!
This is a first-term MBA or intermediate BA/BS course!
Given the lower quality of the competing texts I have read, I put down most low reviews to sight-unseen grousing by partisans who wish to inflict monetary loss on Professor DeLong for his political views.
In todays political climate this is unsurprising, but it is quite disturbing that it has reached this far into solid science.
33 of 34 people found the following review helpful.
Without doubt one of the best on the market
By A Customer
I don't normally bother to review books, but the comments on this book are so bizarre I feel the need to respond. This is a textbook for the intermediate macroeconomics level. Someone coming to this book with no economics background at all might find the book hard going in places, but that is to be expected; it is not intended as a piece of popular writing on economics.
I am very familiar with intermediate macroeconomic textbooks -- indeed, I wrote ancillary material for one of the leading textbooks currently on the market -- and I think DeLong's textbook is one of the best books around. For many topics it is *the* best book.
20 of 20 people found the following review helpful.
Modern Macroeconomics
By W. Chiu
I took Professor Olney's Intermediate Macro class in Berkeley. We used the 1/e of the textbook along with her study guide. Despite the fact that the first edition was filled with typos and mathematical errors (which have been fixed in the 2/e), the intuition, the explanations, and the graphs were clear.
But what truly separates this textbook from every other intermediate macro textbook is the MPRF-PC model that replaces the AD-AS model that you find in most textbooks.
There are several major flaws in the AD-AS model. First, it uses the price level as the adjustment mechanism to equilibrium output. Second, the AD curve assumes a money supply target.
In the United States and in industrialized world, the key variable to emphasize is the inflation rate and NOT the price level. In addition, the Fed uses an interest rate target and NOT a money supply target.
Delong and Olney's book eliminates the silly assumptions that made sense to use 20 years ago, and uses more realistic assumptions to model a complex economy like the United States. There is no other intermediate macro textbook in the market that teaches the Monetary Policy Reaction Function and Phillips Curve model as clearly as Delong and Olney. Period.
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