This book bridges the gap between macroeconomic theoretical foundations and real-world policy applications. It serves as a comprehensive guide for students, policymakers, and practitioners to deepen their understanding of macroeconomic concepts, theories, and policy applications. The text also offers insights into the relative effectiveness of fiscal and monetary policy within the IS-LM framework. The traditional IS-LM model is extended to the open economy IS-LM-BP model within the Mundell-Fleming framework. Additionally, researchers, policymakers, and practitioners will find it useful for macroeconomic policy applications across various exchange rate regimes and levels of capital mobility, especially in developing economies. Non-economics students will also benefit by gaining a basic understanding of macroeconomic theories, concepts, and mechanisms.
About the Author
Johnbosco Ozigbu
Dr Johnbosco C. Ozigbu holds a PhD in International Economics and Finance from Rivers State University (RSU), Port Harcourt. He has also completed the Senior Executive Program – Africa (SEPA) at Harvard Business School in the USA. He equally obtained a postgraduate diploma in Strategy and Innovation from Oxford University’s Saïd Business School and completed a programme in Business Sustainability Management at the University of Cambridge Institute for Sustainability Leadership. Dr Ozigbu has authored three books and numerous articles published in high-impact peer-reviewed journals worldwide. Dr Ozigbu is a lecturer (pro bono) at the Department of Economics, Rivers State University, Port Harcourt, and at the Department of Agricultural Economics, Ignatius Ajuru University of Education (IAUE), Port Harcourt, and an Adjunct Visiting Professor at Nnamdi Azikiwe University (UNIZIK) Business School, Awka. He has received several scholarly appointments, including serving as an Editorial Board Member of Global Journal of Management and Business Research, Massachusetts, USA and Economics, Law and Policy, USA. Dr Ozigbu is a member of the American Economic Association (AEA), the European Economic Association (EEA), the Econometric Society (ES), the Nigerian Economic Society (NES), a fellow of the Institute of Chartered Economists of Nigeria (ICEN) and a member of the Nigerian Association of Macroeconomic Modellers (NAMM).
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