• Summary
  • Contents
  • Subject index

Interest in economics is at an all-time high. Among the challenges facing the nation is an economy with rapidly rising unemployment, failures of major businesses and industries, and continued dependence on oil with its wildly fluctuating price. Economists have dealt with such questions for generations, but they have taken on new meaning and significance.Tackling these questions and encompassing analysis of traditional economic theory and topics as well as those that economists have only more recently addressed, 21st Century Economics: A Reference Handbook is a must-have reference resource.Key FeaturesProvides highly readable summaries of theory and models in key areas of micro and macroeconomics, helpful for students trying to get a "big picture" sense of the fieldIncludes introductions to relevant theory as well as empirical evidence, useful for readers interested in learning about economic analysis of an issue as well for students embarking on research projectsFeatures chapters focused on cutting-edge topics with appeal for economists seeking to learn about extensions of analysis into new areas as well as new approaches Presents models in graphical format and summarizes empirical evidence in ways that do not require much background in statistics or econometrics, so as to maximize accessibility to students.

Measuring and Evaluating Macroeconomic Performance
Measuring and evaluating macroeconomic performance

The performance of a nation's economy actualizes as both cause and effect. The phase of the economic cycle serves as a catalyst that permeates the decisions of individuals, business firms, and government policy makers on a continuous basis. It affects the prices and yields of financial assets, the spending decisions of consumers, corporate borrowing and investment, and choices available to general public. Yet the course of economic activity is also the result of the expectations and actions of its participants. Their collective behavior works in conjunction with the state of nature, which may include favorable conditions or unfavorable conditions, such as excessive droughts, flooding, or other disasters, to guide the economy along its trajectory.

Despite the importance ...

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