Elementos de teoría y política macroeconómica para una economía abierta. Primera parte: Capítulos 1 al 4

This is the first part of the book. It consists of four chapters which contain a brief history of macroeconomics, the basic concepts of national accounts, the circular flow of the economy, and other concepts related to an open economy. The classical economists, Smith and Ricardo, are considered the founders of macroeconomic since they were the first in studying the behavior of the economy as a whole: the causes and limits of economic growth. The second chapter develops the macroeconomic concepts that will be necessary to understand the remaining parts of the book. It explains the different types of economic variables and economic goods, the interest rate and the value of money over time, unemployment and inflation. The third chapter presents the basic concepts of national accounts and the circular flow of the income. It develops three different methods of measuring GDP and other key concepts related to it. The fourth chapter develops concepts such as Balance of Payments and the exchange rate, and others necessary to understand the functioning of an open economy.