Macroeconomics

Description

Features

• Fresh and relevant case studies on issues affecting Europe and international experiences from outside Europe to engage and motivate students
• Comprehensive and rigorous approach to macroeconomics encourages students to think behind the issues and stretch their learning to maximum effect.
• Tables, boxes, diagrams and graphs illuminate the arguments put forward and help to break up the text
• Chapter objectives and summaries, margin notes, key terms and concepts, recommended reading and exercises ensure constant self assessment and practice.
• Full and improved resource package to include for lecturers: Online Instructor’s Manual and PowerPoint Slides, for students: Multiple Choice Questions, Index cards, Interactive Models and much more

New to this Edition

• New chapter on the booms and busts of real business cycles, perfect for understanding today’s current macroeconomic challenges.
• New case studies reflect recent events in the Economy.
• Considers the debate of whether the ISLM model is still useful in teaching intermediate macroeconomics today, considers other factors in setting monetary policy such as real interest rates but also looks at the move back to Keynesian economics in light of the current financial crises.  
• Brand new website with a wide range of interactive models equipped with guided exercises, State of the art interactive applets for data analysis and display, Online quizzes to assess understanding, link lists for further research and summaries.

Table of Contents

Chapter 1 Macroeconomic essentials
Chapter 2 Booms and recessions (I): they Keynesian cross
Chapter 3 Money, Interest rates and the global economy
Chapter 4 Exchange rates and the balance of payments
Chapter 5 Booms and recessions (II): the national economy
Chapter 6 Enter aggregate supply
Chapter 7 Booms and recessions (III): aggregate supply and demand
Chapter 8 Booms and recessions (IV): dynamic aggregate supply and demand
Chapter 9 Economic growth (I): basics
Chapter 10 Economic growth (II): advanced issues
Chapter 11 Endogenous economic policy
Chapter 12 The European Monetary System and Euroland at work
Chapter 13 Inflation and central banking independence
Chapter 14 Budget deficits and public debt
Chapter 15 Unemployment and growth
Chapter 16 Sticky prices: new perspectives on booms and recessions
Chapter 17 Real business cycles: new perspectives on booms and recessions

Back Cover

Macroeconomics 3^rd edition blurb

The third edition of Macroeconomics remains true to its guiding principle, understand and learn macroeconomic theory through applications of real-world issues and challenges facing the global economy.

What’s new

• Macroeconomics of the global economic and financial crisis – Recent events are a running theme in the business cycle chapters, featuring several case studies and boxes. Concepts that drifted to the edge of intermediate macroeconomics curriculums in recent years, such as liquidity traps, market psychology, risk premiums and deflation, receive renewed attention.
• Monetary policy rules – While the text retains its full treatment of money markets, using the LM curve, Chapter 3 Money and Interest rates has been thoroughly re-written to discuss the implications of monetary policy rules, such as the Taylor rule, that many central banks have adopted. The chapter shows how the two approaches relate, offering instructors the option to emphasise one or the other in later chapters. 
• Extended bridge towards graduate macroeconomics – The text's concluding chapters offer a bridge towards graduate macroeconomics, with Chapter 16 offering a serious introduction to the New Keynesian and Sticky Information Phillips Curves, and Chapter 17 introducing the real business cycle approach.
• Glossary and notes on Nobel laureates – A comprehensive glossary of all relevant technical terms has been added to the book, as has a new appendix titled Economics Nobel prize winners and earlier giants, introducing students to the names and work of the greatest minds that have contributed to the concepts and models that form the backbone of this textbook.

Visit www.pearsoned.co.uk/gartner for a sophisticated, up-to-date, companion website including interactive macroeconomic models equipped with guided exercises, state of the art data analysis and display, multiple choice quizzes and more.

Macroeconomics is aimed at courses in intermediate macroeconomics, applied macroeconomics, and on the European economy.

Manfred G™rtner is Professor of Economics at the University of St.Gallen, Switzerland.

Author

Manfred Gartner is Professor of Economics at the University of St.Gallen, Switzerland