Macroeconomics: A Multinational Approach

This book is one of the best pedagogical books on macroeconomics guaranteeing to teach tough subjects without exposing the reader to undue difficulties of mathematics, out-of-the-blue formulas, unintelligible language, and improper sequence of topics. The readers will read it like reading an unsophisticated article or editorial without taking a break due to difficulties. While writing a textbook on economics many renowned economists make the mistake of subconsciously presuming that the readers already know some concepts that they didn’t previously explain. Sometimes, they boast by inserting a sophisticated concept or a formula out of the blue, which they do not explain. Then, the readers become confused and discouraged about continuing the reading that becomes painful. The writer of this book, being aware of this meaningless boastful and conceited attitudes of the renowned writers made utmost attention in presenting the clearest, and modest text that the readers can have. Another hurdle that the learners of macroeconomics suffer is the undue use of mathematics in explaining the subject matter. Indeed, many authors in economics use advanced mathematics for boasting purposes. Then, most of the readers run against unbeatable hurdles and become discouraged from continuing reading. This book carefully refrained from using undue mathematics and formulas. The reader will see that even tough subject matters can be explained without recourse to mathematics except for simple algebra and graphics. A notorious mistake that most of the renowned economists make is to “put the cart in front of the horses” and not “the horses in front of the cart”. Indeed, macroeconomics like the other science fields has a logical and non-interchangeable sequence of topics. For example, many authors embark on presenting the IS-LM analysis, before explaining the simple elements of output determination and how IS-LM is derived. Equally, putting the economic growth topic at the beginning of a book before explaining the simple concepts of macroeconomics is an intolerable absurdity. Unfortunately, many international books on macroeconomics are full of such nonsense. Unlike physics, chemistry, and biology, macroeconomics cannot be taught without reference to pioneering ideas. Many textbooks in macroeconomics writers present the subject with no reference to the pioneers of the idea. Indeed, this field can best be explained by referring to the dialectic among the Mercantilists, Physiocrats, Classics, Neo-classics, Keynesians, New Classics, and New Keynesians. It is very sterile and incomplete, not referring to them while writing a book on macroeconomics. Therefore, this book always referred to the historical backdrop of all concepts and analyses by citing the pioneering views and naming their authors. One other essential difficulty that the readers of macroeconomics encounter is the boastful use of language. Despite, a scholar mastering his/her native language and embellishing the writing with literary elements, the product may not be fit for easy understanding. Due to this fact, many proofreaders and editors advise or impose short sentences, active voices, and many other ways of easy transmission of ideas, instead of literary boasting. The writer of this book for whom English is not the native language used a rather simple and flat language very easy to understand if not a primitive one. This work depicts all the tough subjects of macroeconomics, including the IS-LM presentation, fiscal policy, monetary policy, international finance with pedagogical conveniences meaning complete understanding with ease.