Rethinking Macroeconomics by John F. McDonald published

Rethinking Macroeconomics: A History of Economic Thought Perspective by John F. McDonald, emeritus professor of economics, was recently published. The publisher is Routledge, and the book is available in paperback, ebook and hard cover. An instructor’s manual and power point slides are available.

The book is an introduction to Macroeconomics that includes chapters on each of the contending schools of thought in the field. Those are Keynesian, modern Keynesian, Monetarist, Austrian, Real Business Cycle, Supply-Side Economics, and Modern Monetary Theory.  The second part of the book examines the data for critical macroeconomic episodes for the U.S., the United Kingdom, Japan, Germany, France, and Italy. Those episodes include the Great Depression, the immediate post World War II period, the years of stagflation, and the financial crisis of 2008. The book also covers the economics of the European Union and the Euro Zone. Students learn to apply critical thinking to each episode in light of the different macroeconomic theories.

John F. McDonald was a member of the UIC faculty from 1971 to 2009, and served as department head and senior associate dean and interim dean of the College of Business Administration. He was elected a Fellow of the Regional Science Association International in 2008 and was awarded the David Ricardo Medal by the American Real Estate Society in 2013.