The textbook, widely used in graduate programs at universities in the United States and many other countries, is devoted to the systematic presentation of the foundations of modern macroeconomics. The most important elements of the macroeconomic apparatus, such as the dynamic models of Solow and Ramsey – Kass – Koopmans, as well as models with overlapping generations, are discussed in detail, the main approaches to the study of endogenous growth are discussed.
Considerable attention is paid to the study of macroeconomic fluctuations within the framework of the theory of real business cycles, Keynesian theory and its generalizations. Separate chapters are devoted to the processes of formation of savings and investments and the problem of unemployment. The final chapters deal with the issues of monetary and fiscal policy. The presentation of the theoretical material is accompanied by a discussion of statistical data and the results of empirical research. Each chapter is supplied with a carefully selected list of tasks for independent solution.
Avid Romer’s Advanced Macroeconomics, 3e, is the standard text and starting point for Macro graduate courses and helps students lay the foundations for embarking on research in macroeconomics and money economics. A number of formal models are used to represent and analyze important macroeconomic theories. The theories are supplemented by examples of relevant empirical work that illustrate the application and testing possibilities of theories. This respected and well-known text is unique in the market.
David Romer: advanced macroeconomics
For senior students in economics, undergraduates and graduate students, as well as for teachers of macroeconomics and specialists in economic theory.
Standard Advanced Level Textbook in Theoretical Macroeconomics for Postgraduate, PhD Programs. New page layout is easier to read and print.
Reviews
“It will be of interest to university professors and students studying a course in advanced macroeconomics. The textbook is complex, replete with formulas. Decent quality: hard cover, good quality binding and paper.”
“This is truly a textbook for advanced masters and beyond. All material is presented through mathematical models. Along with this, their substantive basis is considered. There is an obvious bias towards neoclassical models due to the manifestation of hostility towards Keynesian theory, not always restrained by the author.”
“The math that wasn’t entirely elementary (e.g. generic ODEs) varies in terms of lack of rigor, detailed presentation, but a good problem book that sometimes gives it an ad hoc character. (Completely trivial compared to Sargent, Ljungqvist, who however is not educational).”
“QUITE A COMPREHENSIVE BOOK COVERING MANY MACROECONOMIC MODELS. Easily readable and interesting exercises that will coin your knowledge of the theory”
“The title doesn’t lie. This is a high-level text covering macroeconomic models for economic growth and fiscal and monetary policy. Romer has a background in physics and focuses primarily on mathematical models. A solid background in algebra, calculus, probability and statistics is required to understand approximately 80% of the text.
Romer presupposes a great prior knowledge of both mathematical and economic concepts. This text is extremely comprehensive and incorporates research from various schools of economic thought, including new Keynesian, neoclassical and monetarist perspectives. Romer is extremely thorough with every concept and includes numerous document references, making it an excellent search tool.”
“This recently released fifth edition covers new concepts such as changing the economists’ perspective to the lower bound of zero, and cites a lot of recent research that challenges and extends more basic concepts.
My only criticism of the text is that the assumptions of prior knowledge lead to a disconnection between the text and problems at the end of each chapter, making it very difficult to use as a textbook, especially for online courses or self-study.”