Macroeconomics Theory and Policy

2nd Edition

by Dr. Bagher Modjtahedi

In this book, Modjtahedi presents macroeconomics for first'year students in a clear and accessible manner. It introduces the goals of full employment, price stability, and long'term growth from the beginning and pursues them throughout the text. Modjtahedi develops the basic macroeconomic model step by step using real'life examples. Students will learn how to conduct macroeconomic analyses using the empirical evidence presented in each chapter to support the particular model or theory. This book is both analysis' and policy'oriented.

Modjtahedi has an MA in Quantitative Economics from the University of East Anglia, England, and a Ph.D. in Economics from the University of California, Davis. He has been teaching economics and finance for more than twenty years and is currently teaching at UC Davis. He has published in a number of academic journals on topics including international finance, open'economy macroeconomics, and energy derivative markets. Modjtahedi's current research interests center on the functioning of oil futures markets and the economic impact of oil price shocks.

I recently reviewed Professor Modjtahedi's microeconomics and macroeconomics textbooks. The books explain complicated economic concepts using simple English and basic mathematical equations. Many numerical examples and historical data were used throughout the books to illustrate the concepts. The books strike a good balance between theory and policy. I believe these are among the best textbooks in the market for introductory microeconomics and macroeconomics courses at universities and community colleges.
-Hoang Nguyen, Ph.D., Adjunct Professor of Economics, Cosumnes River College

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