Macroeconomics: Policy and Practice

by Frederic S. Mishkin

Building on his expertise in macroeconomic policymaking at the Federal Reserve, Mishkin’s Macroeconomics: Policy and Practice provides a theoretical framework that illustrates the most current and relevant policy debates in the field.

Genres: Economics

602 pages, Hardcover

First published December 27, 2010

About the author

Frederic Stanley "Rick" Mishkin is an American economist and professor at the Columbia Business School. He was a member of the Board of Governors of the Federal Reserve System from 2006 to 2008.

Mishkin's research focuses on monetary policy and its impact on financial markets and the aggregate economy.

Reviews

[Mr. Reader Eric Mesa · Rating 5 out of 5]

I purchased this book as part of my intermediate Macroeconomics class, and I finally invested the effort into reading it cover to cover. I am so grateful that I did. The book is very dense, and I freely admit that I did not understand all the concepts. There are times when I had to willingly read through things I did not understand, accepting that I would have to go through again. Yet I felt even during that time that I was not just missing out on an important concept but noting a negative space that I would find the metaphorical puzzle piece for on the second read. Thankfully the author presents the topics in relatively simple terms with lots of real-world examples that go back to the 2007-08 financial crisis. An updated Macro textbook will undoubtedly have plenty of examples from the ecnomic disruption of COVID, but I don't think the analysis for such a recent event is reliable just yet.
Perhaps one of the greatest challenges in my generation is the hard truth that plenty of people have an audience but few people seem to have understanding. It's especially apparent from this book that economics itself is not a list of truths to be memorized, but a living field of battle where groups of people vie for the supremacy of their own informed arguments. If that's true, then how much more hazardous is this truth to the uneducated fool? The only thing to do, then, is to read books like this and arm oneself with the martial equipment of knowledge. Because I believe this, I recommend this book to everyone. Not because it's easy or enjoyable, but because it's important to know.

[Burhan Qerimi · Rating 2 out of 5]

This book is nicely illustrated apart from that it is all glamour and arrogance.

[Ramiz · Rating 5 out of 5]

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