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Cover -- Theory Of Macroeconomic Policy -- Copyright -- Dedication -- Preface -- Contents -- Detailed Contents -- List Of Figures -- List Of Tables -- Chapter 1: From Ad-as To Advanced Macroeconomics: A Review -- 1.1 Building Blocks: The Production Function, Labour Demand, And Labour Supply -- 1.1.1 The Production Function -- 1.1.2 The Ces Functional Form -- 1.1.3 Augmenting, Biased, Or Saving? A Digression On Technical Progress -- 1.1.4 Labour Demand -- 1.1.5 Labour Supply -- 1.1.6 The Elasticity Of Labour Supply In The Long And Short Runs: Discussion 1.1.7 The Labour Demand-and-supply Framework -- 1.1.8 The 'natural' Or 'structural' Rate Of Unemployment, Cyclical Unemployment, The Output Gap, And Okun's Law -- 1.2 Aggregate Demand And Aggregate Supply (ad-as) -- 1.2.1 From The Labour Market To Aggregate Supply -- 1.2.2 Aggregate Demand -- 1.2.3 Three 'million-dollar' Questions In Macroeconomics -- Question 1: Effects Of Changes In Aggregate Demand -- Question 2: What Are The Main Lines Of Thinking By The Various -- Question 3: Appropriate Policies For The Long Run -- 1.2.4 The 'real-monetary Dichotomy' And Monetary Neutrality 1.2.5 The Short Run -- 1.2.6 Policy Analysis In The Ad-as Model -- 1.3 From The As To The Phillips Curve -- 1.3.1 The Traditional Phillips Curve: A Dynamic Version Of The As -- 1.3.2 Expectations And The Modern Phillips Curve -- 1.3.3 Policy Implications Of The Phillips Curve -- 1.3.4 The Phillips Curve And The Nairu: Discussion -- 1.4 A Brief Story Of Macroeconomics -- 1.4.1 The 'classics' -- 1.4.2 Keynes -- 1.4.3 The Keynesian-neoclassical Synthesis -- 1.4.4 The Monetarists -- 1.4.5 The 'new Classicals' -- 1.4.6 The New Keynesians -- 1.4.7 Supply-side Economics 1.5 Six 'policy Ineffectiveness Results' -- 1.6 On The Theory Of Policy-making: Targets And Instruments -- Rules -- 1.6.1 Terminology -- Impulse Responses -- 1.6.2 The Relation Between Targets And Instruments -- The Tinbergen Theorem -- 1.6.3 Policy Optimization -- Feedback Rules --