e-book
Macroeconomics: A european perspective
This European edition of Macroeconomics is based on the well-tested US edition and on the experience of previous European editions in national languages – French, German, Spanish and Italian – some of which have been used in universities around Europe for many years (the Italian edition since 1998).
We had three goals in preparing this edition:
● To provide an integrated view of macroeconomics. The book is built on one underlying model, a model that
draws the implications of equilibrium conditions in three sets of markets: the goods market, the financial markets, and the labour market. Depending on the issue at hand, the parts of the model relevant to the issue are developed in more detail while the other parts are simplified or lurk in the background. But the underlying model is always the same. This way, you will see macroeconomics as a coherent whole, not a collection of models. And you will be able to make sense not only of past macroeconomic events, but also of those that unfold in the future.
● To make close contact with current macroeconomic events. What makes macroeconomics exciting is the light it
sheds on what is happening around the world, from the economic impact of the introduction of the euro in Western Europe, to the large US current account deficits, to the economic rise of China and other large emerging economies, and last but not least to the origins of the world crisis that started in 2007. These events – and many more – are described in the book, not in footnotes, but in the text or in detailed boxes. Each box shows how you can use what you have learned to get an understanding of these events. Our belief is that these boxes not only convey the ‘life’ of macroeconomics, but also reinforce the lessons from the models, making them more concrete and easier to grasp.
● To focus on European events, both from the euro area and from the countries outside the euro, Sweden,
Denmark and the UK in particular.
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