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Todd A. Knoop

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Recessions and Depressions: Understanding Business Cycles Hardcover – Illustrated, 25 November 2009

by Todd Knoop (Author)

5

Edition: 2nd Revised ed.

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This book offers an examination of the empirical data of business cycles, the theories that economists have developed to explain them, and major case studies of recessions and depressions both in the United States and internationally.

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"This book is a timely contribution to the ongoing debate about the causes of the current global recession. . . . Recommended. Upper-division undergraduate and graduate students, researchers, faculty, and professionals." --Choice

"College-level business libraries need this." --Midwest Book Review

About the Author

Todd A. Knoop is professor of economics and business at Cornell College, Mount Vernon, IA.

Product details

Publisher ‏ : ‎ Bloomsbury 3PL; 2nd Revised ed. edition (25 November 2009)
Language ‏ : ‎ English
Hardcover ‏ : ‎ 300 pages
ISBN-10 ‏ : ‎ 0313381631
ISBN-13 ‏ : ‎ 978-0313381638
Reading age ‏ : ‎ 7 - 17 years
Dimensions ‏ : ‎ 15.6 x 1.75 x 23.39 cm

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5

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Todd A. Knoop

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Todd A. Knoop, David Joyce Professor of Economics and Business at Cornell College, is the author of multiple articles as well as the books:

-Understanding Economic Inequality: Bigger Pies and Just Deserts

-The Traveling Economist: Using Economics to Think about What Makes Us All So Different and the Same.

-Business Cycle Economics: Understanding Recessions and Depressions from Boom to Bust

Global Finance in Emerging Market Economies

-Recessions and Depressions: Understanding Business Cycles

-Modern Financial Macroeconomics.

He was born to be an economist in that he can always tell you why something happened after it has happened; he can hold multiple conflicting ideas in his head at one time and agree (in part) with them all; he has one hand and "the other hand"; and demonstrates daily how little he knows about what he imagines he can design.

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V. Arcabic

For undergraduates

Reviewed in the United States on 20 June 2011

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I'm TA in macroeconomics. My master thesis was regarding business cycles.

The book explains some basic issues regarding business cycles for undergraduate students. Knoop insists on non-technical language, which makes text easy to read, but sometimes lack of some basic mathematics makes some parts confusing. Personally, I think that undergraduate students can handle some basic math. Especially, part on business cycle forecasting is pointless without some mathematical approach. I wouldn't recommend it as a basic literature, but as an aditional one. Also, graphical analysis is quite poor, but I realy like a lot of graphs which explain main text in more details.

The strongest part of the book are case studies which consolidate business cycles theories. Three points are common for all analyzed recessions: (1) they have international character, (2) they are followed by financial and banking crisis and (3) all analyzed recessions are connected with some economic policy mistake. Case studies are very suitable way for explaining complex issues regarding business cycles. However, introduction to main concepts of business cycles, such as lead/lag variables or stylized facts, isn't very well done. Partly because of lack of graphs, which could make some terms more understandable.

My personal objection is that book doesn't follow model-building approach, such as Williamson's (2011) 'Macroeconomics'. Of course, these are completly different types of books/textbooks. So, for beginers in business cycle research I recommend combination of these two texts.

Besides Knoop's, you could also consider Niemira and Klein (1994) 'Forecasting financial and business cycles', or 'Business cycle theory' by A. Lutz (2002).

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Recessions and Depressions: Understanding Business Cycles Hardcover – Illustrated, 25 November 2009

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About the author

Todd A. Knoop

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