Macroeconomics: A European Perspective will give students a fuller
understanding of the subject and has been fully updated to provide broad coverage of the
financial crisis. In particular, this new edition provides:
- NEW chapters and updated text across all chapters
- NEW data on Europe and the financial crisis
- And what has always been the strength of the book: A unified view of
macroeconomics, enabling students to make the connections between the short, medium, and
long run.
"This is a truly outstanding textbook that beautifully marries theory,
empirics and policy. It is surely destined to become the gold standard against which all
other texts must be measured."
Charles Bean, Deputy Governor, Bank of England
“Refreshingly original for an undergraduate text. Relevant applications to
European economies and elsewhere are plentiful, and the breadth of topics covered is truly
impressive. Unlike many texts at this level, the authors do not avoid potentially tricky,
yet important topics; they do their utmost to relate textbook theory to real-world
economics. Relative to competing texts, I think students would find this more engaging.”
Paul Scanlon, Trinity College Dublin
“Up-to-date material on the Euro, especially in light of the current crisis;
strong open economy emphasis; and lots of examples from European countries. There is so
much new material on the monetary union that there is much less need for supplementary
reading.”
Olivier Blanchard studied at Université of Paris Nanterre, and has
taught at MIT since 1983. He is currently Economic Counsellor and Director of the Research
Department of the International Monetary Fund.
· Alessia Amighini is Adjoint Professor at Universita del Piemonte
Orientale (Novara) in Milan.
· Francesco Giavazzi is Professor of Economics at Bocconi University
in Milan and a regular Visiting Professor at MIT. Alessia and Francesco co-authored the
Italian edition of Macroeconomics, and worked directly with Olivier Blanchard on this
adaptation.
Table of Contents
Introduction
Chapter 1 A Tour of the World
Chapter 2 A Tour of the Book
The Short Run
Chapter 3 The Goods Market
Chapter 4 Financial Markets
Chapter 5 Goods and Financial Markets: The IS–LM Model
Chapter 6 The IS-LM model in an Open Economy
Chapter 7 The Labour Market
The Medium Run
Chapter 8 Putting All Markets Together: The AS–AD Model
Chapter 9 The Natural Rate of Unemployment and the Phillips Curve
Chapter 10 Inflation, Activity, and Nominal Money Growth
Chapter 11 The Facts of Growth
The Long Run
Chapter 12 Saving, Capital Accumulation, and Output
Chapter 13 Technological Progress and Growth
Chapter 14 Expectations: the Basic Tools
Extensions
Expectations
Chapter 15 Financial Markets and Expectations
Chapter 16 Expectations, Consumption, and Investment
Chapter 17 Expectations, Output, and Policy
The Open Economy: Exchange rates and policy choices
Chapter 18 Output, the interest rate and the exchange rate
Chapter 19 Exchange Rate Regimes
Pathologies
Chapter 20 The crisis of 2007-2010 – NEW CHAPTER
Chapter 21 High Debt – NEW CHAPTER
Chapter 22 High Inflation
Should Policymakers Be Restrained?
Chapter 23 Policy and Policymakers: What Do We Know?
Chapter 24 Monetary and Fiscal Policy Rules
Europe in progress
Chapter 25 European Economic and Monetary Integration – NEW CHAPTER
Chapter 26 The Euro: The Ins and the Outs – NEW CHAPTER
616 pages, Paperback