Recent Books

era1 equilibrium theory and welfare economics while the student is

still at the elementary level. Intended for a two-semester sequence
in principles, it is easily adaptable to a one-semester course. The
authors are from the United Kingdom but the examples provide
statistics for a wide selection of countries. An exercise set concludes
each chapter.

Evuluating the Reliability of Macro-Economic Models. Gregory C.

Chow and Paolo Corsi, eds. New York: John Wiley and Sons,
1982. 315 pp. $49.95.
This book is based on papers presented at a meeting spon-
sored by IBM at Pisa, Italy. Statistical and other evaluation meth-
ods are discussed to enable researchers to evaluate the reliability
of various types of macroeconomic models. Particular attention is
paid to the practical problems faced by model builders. Participants
include Klein, Pasinetti, Zellner, Fair, Nerlove, and others.

Macroeconomic Theory: Statics, Dynamics, and Policy. James H.

Gapinski. Economics Handbook Series. New York: McGraw-Hill,
1982. 432 pp.
Intended to lead the student in an orderly manner from an
analysis of statics to an examination of dynamics and then to a study
of attendant problems of policy, the book contains many topics not
found in other advanced undergraduate textbooks. These include
the properties of leading economic indicators, the workings of feed-
back controls, and the consequences of rational expectations for pol-
icy effectiveness. Some simple calculus is presumed; contains an
appendix of “quantitative tools” for review.

Macroeconomics: Theory and Policy. Michael R. Edgmand. 2nd ed.

Englewood Cliffs, NJ: Prentice-Hall, 1983. 466 pp. $24.95.
The new edition of Edgmand’s intermediate text includes a
full discussion of supply-side perspectives and rational expectations.
It also includes discussions of Reagan’s economic program, the res-
toration of the gold standard, and the Laffer curve as well as the
Federal Reserve’s change in operating procedures. Basic algebra re-
quired and some knowledge of principles.

Munugeriul Economics: Theory, Practice, and Problems. Evan J.

Douglas. 2nd ed. Englewood Cliffs, NJ: Prentice-Hall, 1983. 584
pp. $24.95.
Designed for an advanced undergraduate or MBA course, this

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