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Advanced Macroeconomics

Advanced Macroeconomics

List Price: $65.63
Your Price: $62.35
Product Info Reviews

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Rating: 4 stars
Summary: Reference book for macroeconomists.
Review: This book tells you what is going on in macroeconomics recently. It is a very good reference book in case you want a quick review of all macroeconomics topics. Easy language and very helpful exercises. Subjects are explained more with intuition rather than technical details. A must if you are interested in working on macroeconomics.

Rating: 4 stars
Summary: Macroeconomics is great, but this book is about trivial math
Review: This books covers all importing issues from macroeconomics. It is more or less neutral. But, unfortunatelly it is to mathematical for a macroeconomics and to trivial for mathematics. It is somewhere in between (closer to economics). Only interesting part is Taylor aproximation in real bussiness cycles.

For the next edition Romer should try to explain macroeconomical meaning of life to some 15 years old kid, but with words.

This way he will stop with showing off with his math knowledge.

If he is so good in math, why didn't he studied math, like every other "real man"? .

Rating: 1 stars
Summary: Simplistic
Review: This has to be the world's most overused textbook. I have used it in no less than four semester-length courses, two undergraduate and two graduate. So obviously I am sick to death of this book, but I hated it the first time anyway. The book's title is completely misleading; its treatment of all subjects is extremely simplistic. This text might be appropriate for second-year undergraduates, but that's all. The mathematical content is pathetic. For instance, the concept of intertemporal optimization plays a key role throughout the text, but there is virtually no treatment of the calculus of variations, and no treatment of stochastic dynamic programming whatsoever. Thus, the core of this theory is gutted, and we only get a dumbed down version that is palatable enough for Romer's text to sell well with math-averse undergrads. I thought the Stokey-Lucas text was great for its use of recursive methods as a unifying concept. Well, the only unifying concept in Romer's book is the formula for a geometric sum; this will get you through about half of the problems. The scope of Romer's text is not just new classical macro, though; he also surveys Keynesian macro and other topics. (Actually the best thing about this book is that Romer is a relatively unbiased author, plus he surveys a lot of empirical evidence.) Once again his treatment of Keynes is ultra-simplistic - he takes the usual "sticky-prices" interpretation which misses the subtleties in the GTEIM. This time it is not the absence of mathematical rigor that lets Romer down, but simply his failure to address the important issues. Any reading of the GTEIM and related literature will verify this. My view is that any graduate course on macro should use one of the serious texts on new classical macro in conjunction with readings from original books/papers on other macro paradigms, and not use Romer.

Rating: 5 stars
Summary: Excellent!
Review: This is one of the best books on macro around. It is easy to follow and would be an ideal companion to Blanchard and Fischer's book. It covers all the major recent developments in the field which every decent macroeconomist should know well.

Rating: 3 stars
Summary: Could be better
Review: This textbook had too much discussion and not enough equations, but that's probably the fault of economics professors in general, not Romer.


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