"Using a rigorous and concise framework, this book teaches the foundations ofmodernmacroeconomic theory and its methods. It is ideally suited for students taking a first graduate course inmacroeconomics as part of anMBA, finance, or economics degree. The book explains recent advances of modern macroeconomic theorywith respect to growth, business cycles, and asset pricing by focusing on aspects of firmand household behavior that are embedded in modern macroeconomic studies. Throughout the book data issues are discussed in detail:where to find the data, howto download it, and the correspondence of datawithmodelpredictions.Themathematical level assumes that students have taken a course in calculus.With its emphasis on dynamic intertemporalmacroeconomics and the use of data, the book provides studentswith a core toolkit thatwill equip them both for more advanced study and for professional careers as economists. Additional resources (including PowerPoint slides for each chapter, detailed answers to all the questions in the book, and links to useful sites) are available online atwww.cambridge.org/macro4mba"--Provided by publisher.

Businesspersons and investors have been conditioned to anticipate that after a period of turbulence following the "Great Recession," conditions will return to "normal." For the preceding generation (from 1982 to 2007), "normal" was the economic "Great Moderation": a period of low inflation and low unemployment that brought on high growth in asset values. Those days are gone. This book reviews the major, and largely inescapable, trends that will make the next generation a more challenging investment environment in all developed economies: an aging population and an overextended government. California today captures the challenges that will be faced by the American economy over the next decades. After summarizing these trends, the book outlines investing strategies for individuals and companies can use this new environment. It provides an extended case study in how greater economic literacy can offer readers an advantage for understanding the opportunities, and threats, presented by long- term trends.