Macroeconomics for Business The Manager's Way of Understanding the Global Economy

Interpreting and applying macroeconomic analysis to the global economic environment and understanding the tools used to do so is fundamental to making good managerial decisions. Presuming no background in economic theory and prioritizing international application, this textbook introduces macroeconomics to business students. It explains how to understand domestic and global macroeconomic developments, policies, and data, and makes extensive use of case studies and data sets to present modern macroeconomics in a globalized world. Each chapter has several specific data exercises and practices as well as an international application focusing on the global perspective. By providing a host of international material, this book is useful for instructors and students around the globe.

Preface; List of figures; List of tables; List of boxes; A note to the reader; 1. Macroeconomic concepts and indicators; 2. Aggregate demand; 3. Aggregate supply and short-run equilibrium; 4. Monetary policy and aggregate demand; 5. Fiscal policy and aggregate demand; 6. Monetary and fiscal policy in the long run; 7. Economic growth; 8. International trade, exchange rates and capital flows; 9. Free trade and protectionism; Index.

Lawrence S. Davidson is Professor Emeritus of Business Economics and Public Policy at the Kelley School of Business, Indiana University, Bloomington with a Ph.D. in Economics from the University of North Carolina. He was the Founding Director of the Indiana Center for Global Business and the Global Business Information Network and received the John Ryan Award for contributions to the international program at Indiana University. He was the Founding Director of the Kelley Center for the Business of Life Sciences and W. Michael and William D. Wells Life Sciences Faculty Fellow. Davidson worked as a visiting Professor in Finland, Germany, the Netherlands and South Korea.
Andreas Hauskrecht is a Clinical Professor of Business Economics and Public Policy at the Kelley School of Business, Indiana University, Bloomington with a Ph.D. in economics from Freie Universitaet, Berlin. He has published two monographs and more than forty papers in journals and books. He has taught courses at universities in the US, Germany, Bulgaria, Bolivia, Ecuador, Croatia, Thailand, Vietnam, and Lao, and served as adviser to governments and central banks in Europe, Latin America, and Asia. He has worked as policy adviser for the Vietnamese government for more than two decades.
Jürgen von Hagen is Professor of Economics, University of Bonn, Germany, and Visiting Professor, Department of Business Economics and Public Policy, the Kelley School of Business, Indiana University, with a Ph.D. from Rheinische Friedrich-Wilhelms-Universität Bonn and teaches M.B.A. macroeconomics at Indiana University. He taught economics at Indiana University, the Universität Mannheim, Germany, and the Rheinische Friedrich-Wilhelms-Universität Bonn. von Hagen has worked for the Federal Reserve Bank of St Louis and the European Central Bank and has been a consultant to the IMF, the World Bank, the Inter-American Development Bank, the European Commission, the Federal Reserve Board of Governors, the Deutsche Bundesb