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“Really up-to-date…gives a fantastic overview of the financial crisis”

Fabian Kreutzer, University of Applied Science Niederrhein, Germany

“Extensive references to and content regarding crises. It’s really amazing”

Yioryos Georgios Makedonis, Queen Mary University of London

Using real-world case studies and examples, this comprehensive text offers intermediate and applied macroeconomics students a truly European and global perspective. Continuing to successfully combine theory with application, Macroeconomics has been fully updated in this fifth edition to keep students up-to-date with the ever changing macroeconomic environment we are experiencing today.

This book presentsmacroeconomics as an applied science designed to improve our understanding of current and past policy issues.

• The unique mix of theory, analysis and policy issues takes students from macroeconomic basics to cutting-edge research topics

• Includes case studies addressing major policy issues in detail, supported by a wealth of economic data

• Moves beyond standard intermediate macroeconomics content by discussing liquidity traps, quantitative easing, price bubbles, multiple equilibria, self-fulfilling prophecy, ratings agencies, debt brakes and austerity

• Self quizzes, road map, glossary and other content also available for mobile devices

Visit www.pearsoned.co.uk/gartner for a comprehensive companion website featuring interactive macroeconomic models equipped with guided exercises, state of the art data display and analysis, quizzes and more.

Macroeconomics

• Macroeconomics


• Macroeconomics


• Brief Contents


• Contents


• Guided Tour of the Book


• List of Case Studies and Boxes


• Preface


• What Makes this Book Unique?


• Content


• Learning Features


• What Courses does the Book Accommodate?


• Prerequisites


• Chapter 1 Macroeconomic essentials


• What to expect


• 1.1 The issues of macroeconomics


• 1.2 Essentials of macroeconomic accounting


• The circular flow of income and spending


• Money in the circular flow


• The government budget and the balance of payments


• 1.3 Beyond accounting


• The art of simplifying and model-building


• Mathematical models


• Empirical tests


• Institutions


• Chapter Summary


• Key terms and concepts


• Exercises


• Online resources


• Self quiz


• Recommended reading


• Appendix Logarithms, growth rates and logarithmic scales


• Logarithms


• Growth rates


• Logarithmic scales


• Chapter 2 Booms and recessions (I): the Keynesian cross


• What to expect


• 2.1 The circular flow model revisited: terminology and overview


• 2.2 Income determination: a first look


• Human behaviour in the circular flow


• Equilibrium income


• What if spending plans change?


• 2.3 Income determination: a second look


• 2.4 An intertemporal view of consumption and investment


• A second look at consumption


• Lifetime patterns of income and consumption


• Stocks and other assets


• When do firms invest?


• The Keynesian cross with future income expectations


• Chapter Summary


• Key terms and concepts