This book comprises the text of the first series of Ryde lectures, established by Lund University in Sweden. It offers a broad survey of various macroeconomic topics which feature prominently in research as well as theoretical and policy debate. An authoritative, comprehensive summary and original critique of modern macroeconomic approaches, the book reviews one school of economic thought in each chapter: Keynesian; monetarist; New Classical school; New Keynesian school; supply side macroeconomics; "non-monetary" models of macroeconomics; and real business cycle theory and the "structuralist school."

Edmund S. Phelps has been McVickar Professor of Political Economy at Columbia University since 1982. He is also the director of Columbia's Center on Capitalism and Society.

1 The Macroeconomics of Keynes
2 The Monetarist Tradition
3 The New Classical School
4 The New Keynesian School
5 Supply-Side Macroeconomics
6 Neoclassical and Neo-Neoclassical Real Business Cycle Theory
7 Non-Monetary Theories of Unemployment Fluctuation: The Structuralist School