Macroeconomics, Global Edition

Series
Pearson
Author
Olivier Blanchard  
Publisher
Pearson
Edition
8
Language
English
Total pages
576
Pub.-date
June 2020
ISBN13
9781292351476
ISBN
1292351470
Related Titles



Description

This title is a Pearson Global Edition. The Editorial team at Pearson has worked closely with educators around the world to include content which is especially relevant to students outside the United States.

 

For intermediate courses in economics.

 

A unified view of the latest macroeconomic events

In Macroeconomics, Blanchard presents an integrated, global view of macroeconomics, enabling

students to see the connections between goods markets, financial markets, and labor markets

worldwide. Organized into two parts, the text contains a core section that focuses on short-,

medium-, and long-run markets and two major extensions that offer more in-depth coverage of

the issues at hand. From the major economic crisis that engulfed the world in the late 2000s, to

monetary policy in the US, to the problems of the Euro area, and growth in China, the text helps

students make sense not only of current macroeconomic events but also of those that may

unfold in the future. Integrated, detailed boxes in the 8th Edition have been updated to convey

the life of macroeconomics today, reinforce lessons from the models, and help students employ

and develop their analytical and evaluative skills.

 

Pearson MyLab Economics is not included. Students, if Pearson MyLab Economics is a recommended/mandatory component of the course, please ask your instructor for the correct ISBN. Pearson MyLab Economics should only be purchased when required by an instructor. Instructors, contact your Pearson representative for more information.

 

Reach every student by pairing this text with MyLab Economics

MyLab™ is the teaching and learning platform that empowers you to reach every student. By combining trusted author content with digital tools and a flexible platform, MyLab personalizes the learning experience and improves results for each student.

Features

Thoroughly updated references and trusted content from a renowned author keeps the text relevant

·    Distinguished authorship. Olivier Blanchard is one of Pearson’s most notable economics authors and brings his years of experience and research of macroeconomic issues, including his time as the chief economist at the International Monetary Fund, to the text.

·    Comprehensive coverage of current macroeconomic events is integrated into every chapter of the book. Notable updates include:

o NEW - Chapter 13 “The Challenges of Growth” discusses the relationship between growth and inequality, the challenges of climate change, and whether the introduction of robots will lead to mass unemployment.

o REVISED - Chapter 8 “The Phillips Curve, the Natural Rate of Unemployment, and Inflation” looks at the Phillips curve as it relates to inflation and unemployment (vs. a change between the two).

o REVISED - Chapter 9 “Putting All Markets Together: From the Short to the Medium Run” examines how changes in the Phillips curve relation have led to changes in monetary policy.

o NEW - A new appendix in Chapter 1 titled “What Do Macroeconomists Do?” gives students a sense of what careers they can pursue if they were to specialize in macroeconomics.

  • UPDATED - Figures and tables showcase the latest data available, bringing currency into your classroom. 

 

Student-focused features facilitate learning

  • NEW and UPDATED - Focus boxes discuss particular macroeconomic events or facts, showing students how they can use what they’ve learned to get an understanding of economics in the real world. Notable updates include:

o NEW - The Denomination of Euro Banknotes: Between the Problem of Small Change and the Curse of Cash (chapter 4)

o NEW - Will Bitcoins Replace Dollars?  (chapter 4)

o NEW - Will Japan Finally Overcome the Liquidity Trap? (chapter 4)

o NEW - The European Sovereign Debt Crisis with a Special Focus on Greece during 2010–2013 (chapter 5)

o UPDATED - From Henry Ford to Jeff Bezos (chapter 7)

o NEW - Will Robot and AI Mean Job Destruction?  (chapter 13)

o UPDATED - What Lies Behind Chinese Growth? (chapter 12)

o UPDATED - Uncertainty and Fluctuations (chapter 16)

o NEW - Deficits and the Crowding Out of Private Investment: France During World War I (chapter 22)

  • Margin notes create a dialogue with the reader, making the more difficult passages easier to comprehend, and giving students a deeper understanding of the concepts and the results derived along the way.
  • Short appendixes to some chapters expand on points made within the chapter for students who want to further explore macroeconomics.
  • Further Readings sections direct students to alternative sources of macroeconomic information.
  • End-of-chapter sections, consisting of a chapter summary, list of key terms, exercises, and list of symbols, ensure the material in the chapter has been digested.

 

A flexible organization lets instructors tailor the material to fit how they teach their course

  • Short, flexible chapters provide plenty of opportunity for alternative course organization. A flowchart also makes it easy to see how the chapters are organized and fit within the book’s overall structure. 
  • Material is organized around 2 parts: the core (chapters 3-13), which focus on the short-, medium-, and long-run markets; and a set of 2 major extensions (chapters 14-20), which provide more detailed examination of the issues at hand. An intro to macroeconomics precedes the core (chapters 1-2), while the extensions are followed by a review of the role of policy (chapters 21-23).

 MyLab™ Economics is not included. Students, if Pearson MyLab Economics is a recommended/mandatory component of the course, please ask your instructor for the correct ISBN. Pearson MyLab Economics should only be purchased when required by an instructor. Instructors, contact your Pearson representative for more information.

 

  • Teach your course your way: Your course is unique. So, whether you’d like to build your own assignments, teach multiple sections, or set prerequisites, MyLab gives you the flexibility to easily create your course to fit your needs.
    • Pearson eText is a simple-to-use, personalized reading experience available within MyLab. Students can use their computer or the mobile app to easily highlight and take notes all in one place -- even when offline. You can also share your own notes with students, so they see the connection between their reading and what they learn in class.
  • Empower each learner: Each student learns at a different pace. Personalized learning pinpoints the precise areas where each student needs practice, giving all students the support they need—when and where they need it—to be successful.
    • Dynamic Study Modules use the latest developments in cognitive science and help students study chapter topics by adapting to their performance in real time.
    • Digital Interactives are dynamic and engaging assessment activities that promote critical thinking and the application of key economic principles. Many Digital Interactives also include real-time data from the Federal Reserve’s Economic Data (FRED™), allowing professors and students to display up-to-the-minute data in key areas. Digital Interactives can be assigned and graded within Pearson MyLab Economics or used as a lecture tool to encourage engagement and classroom conversation.
  • Deliver trusted content: You deserve teaching materials that meet your own high standards for your course. That’s why we partner with highly respected authors to develop interactive content and course-specific resources that you can trust and that keep your students engaged. 
  • Improve student results: When you teach with MyLab, student performance often improves. That’s why instructors have chosen MyLab for over 15 years, touching the lives of over 50 million students. 

New to this Edition

Thoroughly updated references and trusted content from a renowned author keeps the text relevant

·    Comprehensive coverage of current macroeconomic events are integrated into every chapter of the book. Notable updates include:

o Chapter 13 “The Challenges of Growth” discusses the relationship between growth and inequality, the challenges of climate change, and whether the introduction of robots will lead to mass unemployment.

o Chapter 8 “The Phillips Curve, the Natural Rate of Unemployment, and Inflation” looks at the Phillips curve as it relates to inflation and unemployment (vs. a change between the two).

o Chapter 9 “Putting All Markets Together: From the Short to the Medium Run” examines how changes in the Phillips curve relation have led to changes in monetary policy.

o A new appendix in Chapter 1 titled “What Do Macroeconomists Do?” gives students a sense of what careers they can pursue if they were to specialize in macroeconomics.

·    Figures and tables showcase the latest data available, bringing currency into your classroom. 

 

Student-focused features facilitate learning

·    Focus boxes discuss particular macroeconomic events or facts, showing students how they can use what they’ve learned to get an understanding of economics in the real world. Notable updates include:

o NEW - The Denomination of Euro Banknotes: Between the Problem of Small Change and the Curse of Cash (chapter 4)

o NEW - Will Bitcoins Replace Dollars?  (chapter 4)

o NEW - Will Japan Finally Overcome the Liquidity Trap? (chapter 4)

o NEW - The European Sovereign Debt Crisis with a Special Focus on Greece during 2010–2013 (chapter 5)

o UPDATED - From Henry Ford to Jeff Bezos (chapter 7)

o NEW - Will Robot and AI Mean Job Destruction?  (chapter 13)

o UPDATED - What Lies Behind Chinese Growth? (chapter 12)

o UPDATED - Uncertainty and Fluctuations (chapter 16)

o NEW - Deficits and the Crowding Out of Private Investment: France During World War I (chapter 22)

Table of Contents

THE CORE

 

PART I: INTRODUCTION

1. A Tour of the World  

2. A Tour of the Book

 

PART II: THE SHORT RUN  

3. The Goods Market  

4. Financial Markets I

5. Goods and Financial Markets; The IS-LM Model

6. Financial Markets II

 

PART III: THE MEDIUM RUN

7. The Labor Market

8. The Phillips Curve, the Natural Rate of Unemployment, and Inflation

9. Putting All Markets Together: From the Short to the Medium Run

 

PART IV: THE LONG RUN

10. The Facts of Growth

11. Saving, Capital Accumulation, and Output

12. Technological Progress and Growth

13. The Challenges of Growth

 

EXTENSIONS

 

PART V: EXPECTATIONS

14. Financial Markets and Expectations

15. Expectations, Consumption, and Investment

16. Expectations, Output, and Policy

 

PART VI: THE OPEN ECONOMY

17. Openness in Goods and Financial Markets

18. The Goods Market in an Open Economy

19. Output, the Interest Rate, and the Exchange Rate

20. Exchange Rate Regimes

 

PART VII: BACK TO POLICY

21. Should Policy Makers Be Restrained?

22. Fiscal Policy: A Summing Up

23. Monetary Policy: A Summing Up

24. Epilogue: The Story of Macroeconomics