Edition：3rd Canadian Edition
author：Glenn Hubbard, Anthony Patrick O'Brien, Apostolos Serletis, Jason Childs
ISBN：ISBN-10 : 0135660181
ISBN-13 : 9780135660188
All chapter include
There have been dramatic advances in macroeconomics over the past 40 years, and the field is changing rapidly. Today, macroeconomics assumes that economic agents (i.e., people) have rational expectations and are forward-looking, relies on market-clearing conditions for households and firms, and relies on financial shocks and mechanisms that amplify and propagate those shocks over time. Yet, in the aftermath of the global financial crisis, a number of economists, the media, and policymakers have argued that modern macroeconomics can’t capture the complexity of the world that is to be explained.