Advanced Macroeconomics
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Advanced Macroeconomics
by Authors:
David Romer
Released: 20 December, 2000
ISBN: 0072318554
Hardcover
Sales Rank: 77,362
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List price:
$73.15
Our price:
$73.15
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| Book > Advanced Macroeconomics > Customer Reviews: |
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Average Customer Rating: 
Advanced Macroeconomics >
Customer Review #1:
 The best graduate macroeconomics textbook
This book (2nd edition) is fine. It covers all important macroeconomics topics (economic growth, business cycles, aggregate demand -consumption and investment-, labor markets and economic policy -monetary and fiscal policy-). It is up-to-date and its math is not very difficult to follow. In a nutshell, it is a must for a thorough understanding of modern macroeconomics. By the way, the 1st edition was translated to French, Japanese, Chinese, Greek, and Polish.
Advanced Macroeconomics >
Customer Review #2:
 disappointment
I regret to say that this is not a good accompaniment for my graduate macroeconomics class. I thought I could somehow get some mileage out of this book, but as I read it I found out that its lack of technical details and rigor make my lecture notes look superior. I was misled to think that this is a great textbook through the early positive reviews below, thats why I bought it. Nevertheless, the empirical content is more than enough to satisfy ones curiosity, but I think it is not worthwhile to study advanced macroeconomics without learning fully the necessary theories and the accompanying mathematical techniques. This textbook must not be the choice for a core graduate level macroeconomics class; its wordiness is comparable to the undergraduate textbook "Intermediate Microeconomics" text by Varian. It is readable of course, when you want to pass the time, but it wont do for a graduate level text. Im disappointed because this is the second edition already but still the author stuck to the same way of presentation. Perhaps the only differences between the first and the second edition are the empirical data sets and a new chapter and nothing else. The first three chapters and chapter 7 of Obstfeld and Rogoffs treatise, "Foundations of International Macroeconomics," Barro and Sala-i-Martins, "Economic Growth," and the chapters 2,3 and 4 of Blanchard and Fischers, "Lectures in Macroeconomics," provide a more comprehensive view of modern acroeconomics.
Advanced Macroeconomics >
Customer Review #3:
Simplistic
This has to be the worlds 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 books title is completely misleading; its treatment of all subjects is extremely simplistic. This text might be appropriate for second-year undergraduates, but thats 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 Romers 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 Romers book is the formula for a geometric sum; this will get you through about half of the problems. The scope of Romers 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.
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Advanced Macroeconomics >
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