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The Development of Microfoundations of Macroeconomics

In: Crisis in the Eurozone

Author

Listed:
  • Mark Baimbridge

    (University of Bradford)

  • Philip B. Whyman

    (University of Central Lancashire)

Abstract

In this part of the book we briefly highlight the development of macroeconomics, since this is a key tool and a foundation used for analysing/forecasting aspects of economic performance, such as output, inflation and unemployment. Therefore, macroeconomics is crucial to policymakers in terms of designing/implementing an appropriate economic policy that can respond to the needs of the economy at the aggregate level. The purpose of this book is to evaluate, from the macroeconomic perspective, the sustainability of the eurozone. Hence, an overview of relevant macroeconomic models is a necessary initial step that helps us gain a basic understanding of the theoretical foundation that determines the eurozone’s economic operations.

Suggested Citation

  • Mark Baimbridge & Philip B. Whyman, 2015. "The Development of Microfoundations of Macroeconomics," Palgrave Macmillan Books, in: Crisis in the Eurozone, chapter 2, pages 23-39, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-32903-5_2
    DOI: 10.1057/9781137329035_2
    as

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