Titlebook: Macroeconomics in Ecological Context; Karl Seeley Book 2017 Springer International Publishing AG 2017 Macroeconomics teaching.Natural reso

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Labor, Resources, and the Production Functionn presented here is conventional in its derivation of labor demand. However, it is atypical in that, following the logic of Chaps. . and 2, it includes resources along with the usual productive factors of labor, capital, and technology. These are introduced via resource supply curves which Chap. . w

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What Money Ismans organize our activity in ways other than with money). This chapter uses a parable about the construction of a mill to lay out with more substance what money is and how it works. The context is a physical economy in which money doesn’t yet exist. The parable shows how a set of social arrangement

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Expenditure Multipliersor less likely to be relevant. This covers both physical inability and simple unwillingness to increase output. We then derive the conventional Keynesian multipliers for changes in expenditure and taxation. The informal version from the mill parable is used to introduce some limitations of multiplie

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Monetary Policyon is the interaction between the money supply and economic activity. Turning to the actual mechanics of monetary policy, we address the issue of how the money supply is measured, including the various definitions of money. The specific tools discussed include not merely the traditional emphasis on

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Fiscal Policyforward. This chapter addresses those briefly, distinguishing between automatic stabilizers and active policy, then addresses questions of how well fiscal policy works and factors that are likely to make it more or less effective. An exercise walks the reader through the rough contours of the 2009 s

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The IS and LM Curvese IS and LM curves and addresses the factors that determine their shape. For each one, a graphical explanation is followed by an algebraic derivation that allows a quantitative description of how far a curve will move in response to a given change in the economy.

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