This book teaches students how to deal with the economic policy issues that affect them on a day-to-day basis. In fact, the book was originally intended as an economic textbook and has since been revised and expanded to include much more detail on macro topics. The new edition of Take Me There, Take My Exam for Me includes additional chapters dealing with health care, immigration, terrorism, fiscal policy, international trade, immigration laws, labor markets, fiscal policy, and national bank policy.
The book begins by describing advanced macro by briefly describing what it is not. It does not cover fundamental economic theory. It just describes different models and provides some applications that test how each model behaves when various economic assumptions are made. Students then have to go out and create their own model to test how economic theory is implemented in practice.
The book then describes four different main models that are used to describe the broad range of economic policies. It starts with the Phillips Curve, which is based on general price level theory, interest rate theory, and business cycle theory. The book then describes four other models as well that are very similar to the first four. The author then briefly covers the issues that face a model when making policy changes. That section is useful since it gives an overview of the current literature and what has been done before in the past. This helps a student to be familiar with the economic literature before attempting to model the economic system in a more realistic way.
The book then describes a set of policies that can be made by government officials in order to increase economic activity. The policy makers should decide which factors matter most in the model and then the policy can be stated. Then the policies must be tested to make sure they will bring about increased output. The book then describes why it is important to use real data in these cases.
The book ends by describing four different advanced macro models and how they can be used in the macro printer. The book ends with a description of how one can create his or her own advanced macro models. A macro model is typically a more sophisticated version of the standard models. Once created, the user can run the macro models with the data that have been entered.
I enjoyed this book. It was a brief look at some of the more interesting topics in macro. I liked the discussions of why various economic policies are needed. I also liked the section on policy formulation, as it gives some additional insight into why creating new policies is important to effectively pursue the goals of the macro model. So, is it necessary to take my exam for me to learn how to make use of the concepts and model constructions in advanced macroeconsometrics?
Overall I am glad that this book answered the question “Is it necessary to take my exam for me to learn how to make use of the concepts and model constructions in advanced macroeconsometrics?” It answers this question in a positive manner since understanding macro models is extremely important to macro economists, including graduate students. Therefore, this book should be required reading for graduate students with an interest in advanced macroeconomics and with a strong mathematical background.