Macroeconomics in Emerging Markets

Macroeconomics in Emerging Markets

Macroeconomics in Emerging Markets

Macroeconomics in Emerging Markets

Synopsis

This accessible textbook in macroeconomics is designed specifically for emerging economies. It provides a textbook model that upper-level undergraduate students use to understand economic events in their countries, and separate analysis of the key macroeconomic problem areas that these economies have confronted over the last two decades. These problem areas include fiscal deficits, financial sector reform, and exchange rate policies. The book differs from development textbooks in that it contains up-to-date macroeconomics.

Excerpt

My motivation for writing this book stems from my experiences teaching a Master’s level macroeconomics course at the Center for Development Economics at Williams College, as well as from delivering lectures on various topics in macroeconomics to audiences of policymakers from emerging economies in a variety of settings. in both contexts the audiences have often been very bright, very knowledgeable about the problems of their countries, and not very interested in sophisticated mathematics. These experiences convinced me that there is a need for a book on macroeconomic policy in emerging economies that treats the most important issues facing these countries in a way that is conceptually sound but that does not place excessive technical demands on the reader, thus making it accessible to students and policymakers who are less mathematically inclined than the typical graduate student in economics. This book is my attempt to meet that need. It is intended to be accessible to upper-level undergraduates (i.e., undergraduates who have taken a course in intermediate macroeconomics), to students in policy-oriented master’s degree programs in economics or in public policy, and to policymakers.

Why a book on macroeconomics in emerging economies instead of a more general macroeconomics text that could be applied to emerging economies? This is an important question, and I think that there are essentially two answers to it. the first is that, in thinking about developing-country macroeconomic issues, it is often necessary to modify the conceptual frameworks that are generally available in macroeconomics texts written with industrial countries in mind. All macroeconomic models are based on stylized descriptions of the environment in which economic agents interact, and this environment often differs in important ways in emerging economies from that in industrial countries. the second reason is probably more important. It is that, precisely because of the “emergent” nature of these economies, the most significant policy issues that economists and policymakers in developing countries face are often quite different from those that typically occupy center stage in industrial-country texts.

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.