Publisher's Synopsis
This book provides a guide to the practical operation of the macroeconomy and explains the performance of the British economy since 1970. It demonstrates the use of statistics and elementary statistical methods to describe how the British economy operates and emphasizes the testing of macroeconomic theories and the use of data to answer questions about the economy.;Both the monetarist and Keynesian models are described and their claims concerning the main macroeconomic conundrums are described and tested so that readers can assess the models from the evidence. The purpose is not to promote either model but to test them from a sceptical viewpoint, and to use their insights to describe how the economy operates.;This new edition has been updated to take account of latest available statistics.
