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Brief Contents: Introduction: The Science of Macroeconomics; The Data of Macroeconomics. Classical Theory: The Economy in the Long Run: National Income: Where It Comes From and Where It Goes; The Monetary System: What It Is and How It Works; Inflation: Its Causes, Effects, and Social Costs; The Open Economy; Unemployment and the Labor Market; Growth Theory: The Economy in the Very Long Run; Economic Growth I: Capital Accumulation and Population Growth; Economic Growth II: Technology, Empirics and Policy. Business Cycle Theory: The Economy in the Short Run; Introduction to Economic Fluctuations; Aggregate Demand I: Building the IS-LM Model; Aggregate Demand II: Applying the IS-LM Model; The Open Economy Revisited: The Mundell-Fleming Model and the Exchange-Rate Regime; Aggregate Supply and the Short-Run Tradeoff between Inflation and Unemployment. Topics in Macroeconomic Theory; A Dynamic Model of Economic Fluctuations; Understanding Consumer Behavior; The Theory of Investment. Topics in Macroeconomic Policy. Alternative Perspectives on Stabilization Policy; Government Debt and Budget Deficits; The Financial System: Opportunities and Dangers; Epilogue: What We Know, What We Don’t.