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A Concise Guide to Macroeconomics: What Managers, Executives, and Students Need to Know, by David A. Moss
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Now more than ever before, executives and managers need to understand their larger economic context. In A Concise Guide to Macroeconomics, David Moss leverages his many years of teaching experience at Harvard Business School to lay out important macroeconomic concepts in engaging, clear, and concise terms. In a simple and intuitive way, he breaks down the ideas into “output,” “money,” and “expectations.” In addition, Moss introduces powerful tools for interpreting the big-picture economic developments that shape events in the contemporary business arena. Detailed examples are also drawn from history to illuminate important concepts.
This book is destined to become a staple in MBA courses—as well as the go-to resource for executives and managers at all levels seeking to brush up on their knowledge of macroeconomic dynamics.
- Sales Rank: #43148 in Books
- Published on: 2007-07-05
- Original language: English
- Number of items: 1
- Dimensions: 1.00" h x 6.10" w x 9.10" l, 1.05 pounds
- Binding: Hardcover
- 208 pages
About the Author
David A. Moss is the John G. McLean Professor of Business Administration at Harvard Business School.
Most helpful customer reviews
2 of 2 people found the following review helpful.
A Wonderful Introduction to the Macro Economy
By Herbert Gintis
This book not only covers lucidly the major categories of macroeconomic theory, but also explains in considerable detail what every student of economics should know about national income account, exchange rates, inflation, and the like.
What is missing from the book should be carefully noted. There is no discussion of dynamics in any form, except for elementary and outdated notions of the Keynesian multiplier, and the like. This is good, because standard macroeconomic theory pretends to do market dynamics but it is in fact all smoke and mirrors. There is no serious, acceptable model of market dynamics, no matter what the so-called experts tell you (if the claim there is, they are liars or self-deluded fools).
Also missing are perspectives on economic regulation. There is no discussion of state failures vs. market failures, the role of automatic stabilizers vs. discretionary fiscal and monetary policy, and no discussion of the sociopolitical forces that led to the replacement of classical macro by Keynesian, and Keynesian by New Classical.
What is missing from this book is controversial, but a discussion of the various sides of the issues would be useful to the reader, who must search elsewhere for such material.
15 of 15 people found the following review helpful.
A Very Basic Intro - But a Good One
By Dianne Roberts
Professor Moss' Concise Guide to Macroeconomics is titled aptly. It is very concise; fluidly written and easily read in a couple of sittings. It is also very fundamental. The author focuses in one the three core pillars of macro-economics, output, money and expectations, and takes the reader through them in a tried and trued presentation format: tell the reader what you're going to tell them, tell them, then tell them what you just told them.
As such the first part has a chapter dedicated to introducing each of these three core concepts. The second part has a chapter for each of these three concepts again, but with slightly more sophistication afforded from the reader now having seen all three concepts in isolation, and the conclusion quickly ties everything together holistically. I found this format very effective for the content it was meant to convey.
To be clear though concise is the key word to describe this book. It covers first things first and only first things. As such many concepts, such as foreign reserves, aren't even mentioned. This book is very much a starting point, and it is written for the lay reader with only a simple or passing knowledge of economics concepts in general. It certainly won't make you a genius who can understand the world. It could likely help students understand concepts qualitatively but has no real math or graphical analysis and probably wouldn't help students with their homework or tests.
Despite its brevity and the fact it skips some topics many would like to see in a macroeconomics book I feel five stars is richly deserved on account of an admirable and rare honesty on behalf of the author. Although a Harvard Business School professor (and thus, if reputation is to be believed, about as educated as one can come) Mr. Moss is extremely clear that macroeconomics is not a precise science, most macroeconomic theories do not slide seamlessly into successful practice in real life, the reasons behind macroeconomic situations (i.e. currency collapses, recessions, sharp inflation, etc.) can be ambiguous and arguable, and macroeconomic monetary and fiscal policies (such as interest rate cuts or deficit spending) can have contradictory and unpredictable impacts in the real world. His explanation of macroeconomics can show how we can ask smarter questions to increase our chances of being successful when it comes to private enterprise and government venture, but also shows why there is such disagreement and room for argument on both sides of any macroeconomic issue.
A great starting place and, rare for an academic book, armed with a highly appropriate warning on the limits of a imprecisely understood albeit very important topic.
0 of 0 people found the following review helpful.
A great book that covers the basics
By Stefano
I have a degree on economics, but my university pretty much skipped the whole macroeconomics subject so I needed something to fill the gap: this book did it perfectly. It shaves off all the boring academic stuff and goes straight to the point of how macro works, without making it too complicated. You probably need at least a bit of confidence with economics and numbers, but there are plenty of examples that will make it easy for you.
This is not a university manual and it doesn't go too far with the details and maths, but there is no better introduction to macro.
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