This book presents concepts logically an intuitively, and avoids excessive reliance on mathematical formulations. Short-run macroeconomic concepts are covered first, before moving on to long-run macroeconomic principles. Students are taught to 'think like an economist' using familiar everyday examples and to apply economic principles in order to understand and explain the world today.

The NBER Macroeconomics Annual presents, extends, and applies pioneering work in macroeconomics and stimulates work by macroeconomists on important policy issues. Each paper in the Annual is followed by comments and discussion.