Part I: Introduction -- A tour of the world -- A tour of the book -- Part II: The short run -- The goods market -- Financial markets -- Goods and financial markets : the IS-LM model -- Part III: The medium run -- The labor market -- Putting all markets together : the AS-AD model -- The natural rate of unemployment and the Phillips curve -- Inflation, activity, and nominal money growth -- Part IV: The long run -- The facts of growth -- Saving, capital accumulation and output -- Technological progress and growth -- Technological progress, wages, and unemployment -- Part V: Expectations -- The basic tools -- Financial markets and expectations -- Expectations, consumption, and investment -- Expectations, output, and policy -- Part VI: The open economy -- Openness in goods and financial markets -- The goods market in an open economy -- Output, the interest rate, and the exchange rate -- Exchange rate regimes -- Part VII: Pathologies -- Depressions and slumps -- High inflation -- Part VIII: Back to policy -- Should policy makers be restrained? -- Monetary policy : a summing up -- Fiscal policy : a summing up -- Part IX: Epilogue -- Epilogue : the story of macroeconomics.