Macroeconomics: A European Text

by Michael Burda (Author), Charles Wyplosz (Author)

• Used

  Paperback
  1993

  $7.77

  This economics course textbook is a self-contained text. Its emphasis on Europe sets it apart - accounts of open economies, exchange rates, capital movements and government intervention are central, with considerable explanation of labour market institutions. Students' interest is stimulated by consideration of current policy debates, with one chapter devoted to the monetary union debate and the epilogue considering the situation of Eastern Europe. The text is structured by modern microeconomic foundations for economic theory (Ricardian equivalence, trade union theory and endogenous growth), with rational expectations and intertemporal considerations fully incorporated. At the same time, neoclassical long-run explanations (IS-LM, aggragate demand and supply, and Solowian growth) are presented in detail. The authors have managed to present to the reader in an accessible fashion the current theoretical and empirical research in economics. This book can be used for undergraduates in economics as the main textbook for macroeconomics, and for MBA students or undergraduates of business studies as a textbook for a first-time course in economics. There is an accompanying teacher's manual which gives guidance on using selected chapters of the book on shorter courses, for example, an aggregate demand/business cycle track which avoids detailed microfoundations but emphasizes the role of sticky prices in generating cyclical fluctuations, or a neoclassical/microfoundations track for instructors who prefer to stress first principles. The theoretical and applied exercises at the end of each chapter are designed to serve as self-tests for the student to continuously check their understanding. Visual aids present students with live policy issues, and display the usefulness of each concept or result. Again, the European focus comes into play with results drawn from comparisons between European countries rather than being US-biased. The text does not depend on algebraic exposition, since the results are established with geometrical aids, aiming to encourage logic and intuitive thought in the readers. Each chapter includes a summary of key ideas, a list of important concepts and a set of applied and theoretical exercises.

• Used

  Paperback
  1997

  $3.25

  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 modern 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 economies - it presents a truly international perspective, giving the student economic data, timely examples, and lively case studies taken from the European and global scene - it is written in a lucid style that guides the students 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. This book is intended for undergraduates taking the compulsory course in intermediate macroeconomics. Supplementary for students taking options in European economics or open economy macroeconomics.