Macroeconomics (4th Ed.)
A European Perspective

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Language: English

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624 p. · 21x27.4 cm · Paperback

Develop a unified view of the latest global macroeconomic events, connecting the short, medium, and long-run markets.

Macroeconomics: A European Perspective, 4th edition by Blanchard, Amighini & Giavazzi, offers the European perspective based on the best-selling US text by leading author Olivier Blanchard, presenting an integrated, global view of macroeconomics, and showing the connections between goods markets, financial markets, and labour markets worldwide.

An essential textbook for students studying Macroeconomics at an intermediate level, this is a book rooted in the real world: from the major economic crisis of the late 2000s to the profound economic effects caused by the COVID-19 pandemic, from monetary policy in the US to Brexit, the problems of the Euro area, and growth in China, this edition will help you make sense not only of current macroeconomic events but also those that may unfold in the future.

Key features include:

  • A new chapter 'The COVID economic crisis' examines the economic impact of the COVID-19 pandemic.
  • A new appendix, 'What do macroeconomists do?', explores career options for those thinking about taking their Macroeconomics study further.
  • Organised into two distinct parts: a core section focuses on short, medium, and long-run markets, and two extensions offer more in-depth coverage of the issues.
  • Margin notes help re-create a student-teacher dialogue, further explaining more challenging concepts.
  • Focus boxes discuss real macroeconomic events and facts from Europe, the United States, and around the world.

With a series of features and digital resources to help you cement your learning, this is a must-have textbook on the European perspective reflecting all major contemporary changes in the field.

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If you would like to purchase both the physical text and MyLab® Economics, search for:

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Package consists of:

  • 9781292360898 Macroeconomics: A European Perspective Paperback, 4th Edition
  • 9781292360935 Macroeconomics: A European Perspective Paperback, 4th Edition MyLab® Economics
  • 9781292360973 Macroeconomics: A European Perspective Paperback, 4th Edition Pearson eText

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

    CORE Introduction

  1. A tour of the world
  2. A tour of the book
  3. The goods market
  4. Financial markets
  5. Goods and financial markets: the IS-LM model
  6. Financial markets II: the extended IS-LM model
  7. The labour market
  8. The Phillips curve, the natural rate of unemployment and inflation
  9. From the short to the medium run: the IS-LM-PC model
  10. The COVID economic crisis
  11. The facts of growth
  12. Saving, capital accumulation and output
  13. Technological progress and growth
  14. The challenges of growth
  15. Financial markets and expectations
  16. Expectations, consumption and investment
  17. Expectations, output and policy The open economy
  18. Openness in goods and financial markets
  19. The goods market in an open economy
  20. Output, the interest rate and the exchange rate
  21. Exchange rate regimes Back to policy
  22. Should policy makers be restrained?
  23. Fiscal policy: a summing up
  24. Monetary policy: a summing up
  25. Epilogue: the story of macroeconomics

    Appendix 1 An introduction to national income and product accounts

    Appendix 2 A maths refresher

    Appendix 3 An introduction to econometrics

    Glossary

    Symbols used in this book

Olivier Blanchard studied at the University of Paris, Nanterre, and has taught at the Massachusetts Institute of Technology since 1982. He was Chief Economist at the International Monetary Fund between 2008 and 2015.

He is currently the Fred Bergsten Senior Fellow at the Peterson Institute for International Economics in Washington. He also remains Robert M. Solow Professor of Economics Emeritus.

Francesco Giavazzi is a Professor of Economics at Bocconi University in Milan and has been a visiting professor at the Massachusetts Institute of Technology for over a decade, where he teaches a course on Macroeconomics to Undergraduate students based on this textbook.

Alessia Amighini is an associate professor of Economics at Universita del Piemonte Orientale in Novara, Italy, and an adjunct professor of international economics at the Catholic university in Milan.

Hallmark features of this title

Presenting a range of features to support your students' learning

  • Organised into two distinct parts: a core section focusing on short-, medium-, and long-run markets, and two extensions offering more in-depth coverage of the issues.
  • Margin notes further explaining more challenging concepts.
  • Focus boxes discussing macroeconomic events and facts from Europe, the United States, and around the world.

A series of end-of-chapter exercises allow students to test their understanding of the topic.

  • "Quick Check": basic-level exercises helping students check what they have learned.
  • "Dig Deeper": exercises requiring further thinking of the concepts presented.
  • "Explore Further": activities requiring either Internet access or the use of a spreadsheet program.