This is a newly revised second edition of a key macroeconomic textbook. After explaining the historical development of the subject, they show how rational expectations are handled in macro models. The importance of structural micro-founded models is explained, with key examples of such structural models examined in detail and with extensions to the open economy; policy implications are highlighted throughout. Methods for testing these models against macro data behaviour are explained, detailing the latest evidence on these models' success. Learn More

This authoritative volume presents a collection of classic and contemporary research articles examining the common ground that all academic economists share: the college classroom. This compilation includes readings covering all aspects of modern economic education research – from building theoretical models of student learning, to evaluating the long-run impact of economic knowledge on individual behavior. The articles are organized to serve as a comprehensive guide for researchers who are interested in conducting classroom research. Specific attention is given to the growing literature that evaluates the effectiveness of modern technology and alternative pedagogies on student learning of economics.  With an original introduction by the editor, this volume brings together – for the first time in one place – an essential collection of economic education research by the leading authors in the field. Learn More