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Date: | Fri Mar 31 17:18:39 2006 |
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----------------- HES POSTING -----------------
Some perspective on predecessors to the micro-macro distinction
can be gleaned by looking at earlier editions of Samuelson's
Economics textbook. My quick browse of these editions indicates
that the earliest edition of Samuelson in which the micro-macro
distinction turns up is the 4th edition, published in 1958. Even
in this edition, Macro and Micro are not used as headings for separate
parts of the book. Instead, the beginning of part III on the Composition
of National Income begins with the query "Macroeconomics versus
macroeconomics?" In these earlier editions, what would more recently
be termed macroeconomics is called "Determinants of National Income
and its Fluctuations." The microeconomic sections are headed
"Composition of National Income" and "Distribution of National Income."
OF course Samuelson's book is known for being one of the first, though
not the first, introductory textbooks to incorporate Keynesian ideas.
More on this can be found in Kenneth Elzinga's article on the various
editions of Samuelson in the Southern Economic Journal, 1992 based
on his Presidential address to the SEA.
When I was a student at U.of Chicago in the 1970's the distinction made
was between Price Theory and Money/Theory of National Income and the
Price Level. I also seem to recall Milton Friedman saying there
was no useful distinction between macro and micro but mentioning
there was a distinction between partial and general equilibrium theory.
Among other earlier textbooks, one could look at Marshall's Principles
of Economics, which in the first few editions was labelled vol.I implying
that a vol.II was to be forthcoming. The material in Vol.I would roughly
correspond to the value and distribution part -- i.e. loosely micro.
One can find in the literature on Marshall a discussion of what would
have gone into Vol.II and did go into some of his subsequent publications.
But I will leave it to those more knowledgeable on Marshall than I to
fill this in.
David Mitch
University of Maryland Baltimore County
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