I started studying lectures in Julia and would like some book to delve into modern macroeconomics.
Which books are recommended? I do not have formal training in p.h.d. eco, the book is for self-study, therefore the simpler and didactic is better.
I dont know what level you are talking about. For intermediate level: 1. Intermediate Macro by Mankiew is a good one at starting point, 2. Macroeconomics by Abel Bernake., for dynamic macro: 1. ABC of RBC is an excellent one, 2.Dynamic Economics
Quantitative Methods and
Applications by Je´roˆme Adda and
Russell Cooper, 3.Macroeconomic Theory
A Dynamic General Equilibrium Approach by Michael Wickens. Hope these information will help you.
Thank you adwelch,
Mankiw and Bernanke are very basic, but the other references I do not know
and I will seek to know them, they look very good.
I have a major in economics, but with a weak foundation in math.
I’m trying to go beyond on my own now.
Thanks a lot for the help.
I found Acemoglu’s Modern Economic Growth fantastic for self-study. It has a growth focus, but it is good for learning the foundations of the neoclassical growth model. The book is self-contained mathematically. All the tools are developed from scratch, and it has a section on analysis. But the book lacks much discussion on macro policy, stochastic dynamics etc.
Per Krusell’s lecture notes on Macro 1 are also a good starting point (google them).
If you want proper modern macro, you cannot go past developments in incomplete market models. I think Jiajun Miao’s “Economic Dynamics in Discrete Time” book is good.
Modern macro seems to require a good foundation in analysis and probability. Ch. 7 and Ch. 9 in Stachurski’s Econ Dynamics and Ch. is a great start. to develop the foundation in math. The intuition on probability in Ch. 4 and 5 in “A Primer in Econometric Theory” I think is indispensable for understanding probability in macro.
Thanks Shanker, I will follow your recommendations.
I also think “recursive macroeconomic theory” seems essential. However, I only appreciated the material in there a lot later on.