Macroeconomics: A European Perspective (3rd Edition) – eBook

Description

This comprehensive ebook, Macroeconomics: A European Perspective, 3rd Edition (PDF), equips economics students with an in-depth comprehension of macroeconomic principles through a cohesive lens. It effectively bridges the gap between short, medium, and long-term economic analysis. Authored by renowned economists who have meticulously restructured the content in response to the insights gained from the Great Recession, this essential textbook is a must-read for those delving into macroeconomics post the financial crisis.

With a fresh approach, this latest edition has been developed by reevaluating the pedagogical methods of teaching macroeconomics, taking into account the complexities brought forth by the recent economic downturn.

**Highlighted Features:**

• This textbook now acknowledges that contemporary central banks prioritize setting interest rates over controlling the money supply, effectively eliminating the LM curve and streamlining the discussion surrounding financial markets.
• The yield curve has been enhanced to include a risk premium, a factor that has gained prominence during the crisis, particularly as Quantitative Easing policies illustrate how monetary policy influences this critical premium.
• The Medium Run segment begins with the Phillips curve, circumventing the cumbersome AS-AD framework that many undergraduate students struggle to grasp. This approach clarifies how output exceeding potential or unemployment levels falling below the natural rate can exert upward pressure on inflation, driven by the dynamics of expectation formation, which are integral to current economic events.

What Others Are Saying

“This is a truly outstanding textbook that beautifully marries theory, empirics, and policy. It is surely destined to become the gold standard against which all other textbooks must be measured.” — Charles Bean, Deputy Governor, Bank of England.

ISBN: 978-1292085678

P.S. We also offer the Macroeconomics: A European Perspective (3rd Edition) test bank, instructor manual, and additional resources for purchase. Contact us for more information.

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NOTE: This listing exclusively includes the ebook Macroeconomics: A European Perspective, 3e in PDF format.