Publisher's Synopsis
Building upon the success of the first edition, this new edition of Macroeconomics: A European Text is fully revised and updated and provides a comprehensive analysis of macroeconomics within a European and global context. With an emphasis upon greater accessibility and clarity the text presents competing approaches in a balanced and lucid manner with continual reference to data and examples from the real world.;This text is innovative in four important respects: - it offers a contemporary approach that incorporates the `new' macroeconomics and emphasises microeconomic foundations and intertemporal aspects - it progresses rapidly to an open economy analysis, which is directly relevant to modern European economics - it presents a truly international perspective, giving the student economic data, timely examples, and lively case studies taken from the European and global economic scene - it is written in a lucid style that guides the student to the frontiers of the subject;The second edition has been substantially revised to take account of the changing European and global macroeconomic environment. Two new innovative chapters have been added. `Output Employment and Prices' introduces the classical general equilibrium model with flexible prices as the basis for the Keynesian model. `Business Cycles' provides and original account of the nature of output fluctuations, as well as a balanced presentation of competing sticky-price (new Keynesian) and real business cycle paradigms. There is also new material on growth and unemployment theory. Retained chapters have been re-written, tables and figures updated and new examples presented.;The text provides excellent teaching and learning aids including chapter overviews and summaries, key concepts and end of chapter exercises. Each chapter also includes suggestions for further reading. The book is accompanied by a wide range of supplements to assist both tutor and student.;This book is intended for second year undergraduates taking the compulsory course in intermediate macroeconomics. Supplementary for students taking options in European economics or open economy macroeconomics.
