Methodology of Economics

This is a newly revised second edition of a key macroeconomic textbook. After explaining the historical development of the subject, the authors show how rational expectations are handled in macro models. The importance of structural micr...

‘The fact that one of the cardinals of pre-crash macroeconomic orthodoxy is willing to commend this heterodox text, is evidence of the mess in which orthodox macroeconomics finds itself after the collapse of 2007–09.’ – From the Preface ...