Macroeconomics in Context  book cover
3rd Edition

Macroeconomics in Context

ISBN 9781138559035
Published January 8, 2019 by Routledge
760 Pages 195 Color Illustrations

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Book Description

Macroeconomics in Context lays out the principles of macroeconomics in a manner that is thorough, up to date, and relevant to students. Like its counterpart, Microeconomics in Context, the book is uniquely attuned to economic realities. The "in Context" books offer engaging coverage of current topics including financial crises, rising inequality, debt and deficits, and environmental sustainability, while also providing a clear and accessible exploration of economic theory and applications.

The third edition features:

  • Clear explanations of basic economic concepts alongside more in-depth analysis of macroeconomics models and economic activity
  • Expanded coverage of topics including, inequality, financialization and debt issues, the changing nature of jobs, and sustainable development
  • Thoroughly updated figures and data
  • A full complement of online instructor and student support materials such as additional tables and data, PowerPoint slides and a study guide

This engaging textbook offers students an excellent guide to macroeconomics. The latest addition to the "In Context" series, it combines real-world relevance with a thorough grounding in multiple economic paradigms.

The book's companion website is available at:

Table of Contents

Introduction. Part I The Context for Economic Analysis. 0. Macroeconomics and Well-Being. 1. Economic Activity in Context. 2. Useful Tools and Concepts. 3. What Economies Do. 4. Supply and Demand. PART II Macroeconomic Basics. 5. Macroeconomic Measurement: The Current Approach. 6. Macroeconomic Measurement: Environmental and Social Dimensions. 7. The Structure of the U.S. Economy. 8. Employment, Unemployment, and Wages. PART III Macroeconomic Theory and Policy. 9. Aggregate Demand and Economic Fluctuations. 10.Fiscal Policy. 11. Money, Banking, and Finance. 12. The Federal Reserve and Monetary Policy. 13. Aggregate Supply, Aggregate Demand, and Inflation: Putting It All Together. 14. The Global Economy and Policy. 15. Financial Instability and Economic Inequality. 16. Deficits and Debt. 17. How Economies Grow and Develop. 18. Growth and Sustainability in the Twenty-First Century. Glossary. Index

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Neva Goodwin is Co-Director of the Global Development and Environment Institute (GDAE) at Tufts University, where she is the director of the electronic Social Science Library: Frontier Thinking in Sustainable Development and Human Well-Being. Her current interests focus on ecological restoration, especially with regard to soils.

Jonathan M. Harris is Senior Research Associate at the Global Development and Environment Institute at Tufts University. His current research focuses on the implications of large-scale environmental problems, especially global climate change, for macroeconomic theory and policy.

Julie A. Nelson is Professor of Economics at the University of Massachusetts Boston and Senior Research Fellow at the Global Development and Environment Institute at Tufts University. Many of her books and articles critique economic methodology from a feminist perspective. She has published in journals ranging from Econometrica and the Journal of Political Economy to Hypatia: Journal of Feminist Philosophy and Ecological Economics.

Pratistha Joshi Rajkarnikar is a Postdoctoral Scholar at the Global Development and Environment Institute at Tufts University. Her research covers a broad range of topics on women’s empowerment, economic development, and the impacts of globalization on developing economies. She has taught economics in visiting positions at Trinity College and University of Massachusetts Boston.

Brian Roach is Director of the Theory and Education Program at the Tufts University Global Development and Environment Institute, and a lecturer at Tufts and Brandeis Universities. He specializes in environmental economics, and is co-author (with Jonathan Harris) of Environmental and Natural Resource Economics: A Contemporary Approach.

Mariano Torras teaches economics at Adelphi University in Garden City, New York. A heterodox economist who specializes in ecological and development economics, his recent research has been in the areas of institutional economics and economic methodology; particular attention has been on approaches to addressing climate change.


“Macroeconomics in Context is the best text I’ve seen for undergraduate teaching. By paying attention to pressing issues of our time, such as environmental degradation and social inequalities, it lets students readily see why the subject of economics is important to learn. This text gives students the basics while raising questions about how we can do better.”
–Valerie A. Luzadis, SUNY Environmental Science and Forestry, Syracuse

"MIC is a comprehensive textbook, allowing custom tailoring for any course.  Its broad and critical perspective is invaluable in today's world with social and economic inequality, and makes MIC an oasis in the desert in the economics textbook market.”
–Adem Elveren, Assistant Professor of Economics, Fitchburg State University, MA, USA.