When you pick up your textbook and look at the authors listed, you probably don’t know much, if anything, about who they are. But there are some textbooks written by individuals who have made a name for themselves in something else that is not totally related to academics.
One such example is Ben Bernanke, who has written several economics books and is currently serving as the chair of the United States Federal Reserve. For those who have yet to study economics, the Federal Reserve is the nation’s primary federal bank. Bernanke was a tenured college professor and held the position of department chair of the economics program at Princeton University in the 1990s and early 2000s. He also taught at the Stanford University Graduate School of Business from 1979 to 1985. Additionally, Bernanke served on the Board of Governors for the Federal Reserve prior to becoming its chairman in 2006 after President George W. Bush appointed him to the position. IN 2010, President Barack Obama re-nominated Bernanke to serve a second term as chairman.
Bernanke has been at the forefront of decision-making when it comes to the financial situations that have arisen in the U.S. in recent years. Bernanke had a major role in making decisions in the midst of the country’s recession, which many believe began in 2008 and is still a factor in today’s economy, That is why college students who use this man’s textbooks should have some idea of who Bernanke is and what he has done. In fact, many economics students have studied the decisions he has had a direct role in making, such as the merger of Merrill Lynch with Bank of America and the bailout of American International Group (AIG), a multinational insurance conglomerate. It is unique that students actually study the author of a textbook rather than his or her theories in it, but this has been true for Bernanke.
The “Great Moderation” is one of Bernanke’s key principles that he has taught and discussed in his texts. This philosophy points to a decline in the traditional cycles within businesses over the last few decades due to an increase in the prosperity of developed countries, which has made macroeconomic policies less relevant in today’s global economic landscape.
Bernanke has authored a number of economics textbooks for both undergraduate students taking introductory courses as well as graduate students taking higher-level business courses. These books include:
– Inflation Targeting: Lessons from the International Experience by Ben Bernanke, Thomas Laubach, Frederic Mishkin, and Adam Posen (2001 – Princeton University Press)
– Essays on the Great Depression by Ben Bernanke (2004 – Princeton University Press
– Macroeconomics (Sixth Edition) by Ben Bernanke, Andrew Abel, and Dean Croushore (2007 – Addison-Wesley)
– Principles of Macroeconomics by Ben Bernanke and Robert Frank (2007 – McGraw-Hill)