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Macroeconomics books are available for both academic and general audiences, covering various schools of thought. College bookstores and online retailers offer introductory and advanced level textbooks, while influential works like Keynes’ The General Theory and Friedman’s A Monetary History of the United States are recommended for a deeper understanding. The Austrian School is another branch of macroeconomics, and there are also economics texts written for a general audience.
Macroeconomics is a branch of economics that studies the factors affecting large-scale economic relationships on a national or global scale, and many books are written on the subject. Some macroeconomics books are published for an academic audience, while others are intended for a more general audience. These books may also follow various schools of thought, depending on the writer’s economic beliefs. Choosing the right macroeconomic books is essential in helping a reader understand the basics of economic theory.
One place to start looking for macroeconomics textbooks is in the bookstore of a nearby college or university. Most business students are required to take both microeconomics and macroeconomics for their degrees, and there are often several textbooks available on the subject. Many of these bookstores will list the college or university classes that use each book, which can give a shopper an idea of what aspects of the subject matter the book addresses. Buyers may want to start with introductory-level macroeconomics books before moving on to more advanced concepts. College textbooks can also be purchased new and used from online retailers.
For a deeper understanding, readers may wish to cover some of the most influential works on the subject. One of the first texts – and one long considered among the most important on the subject – is The General Theory of Employment, Interest and Money by John Maynard Keynes. This text has influenced economic and political theory since its first publication in 1936.
Successive economists have disputed Keynes’ conclusions, and two competing schools of macroeconomic thought have emerged. A Monetary History of the United States, 1867-1960 by Milton Friedman and Anna J. Schwartz challenged Keynes and helped establish the theory of monetarism. The conflict between Keynesian economics and monetarism continues to shape political debate in the United States and around the world in 2011.
Another less popular but still relevant branch of macroeconomics is known as the Austrian School. A book by Carl Menger, Principles of Economics first published in 1871, is widely considered the first seminal work of the Austrian School. While this system of theories fell out of favor for much of the 20th century, some later economic thinkers attempted to revitalize the school’s theoretical framework. Many modern macroeconomics books in the early 21st century rely on the reader having a basic understanding of these competing monetary theories and the roots of the conflict between them.
In addition to the many academic books on macroeconomics, there are also economics texts written for a general audience. Some of these books require a basic understanding of economic theory, while others attempt to explain the subject to laymen. Prospective readers may want to consult non-fiction bestseller lists for an overview of the most recent popular macroeconomics books.
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