"Macroeconomic Theory" is the most up-to-date graduate-level
macroeconomics textbook available today. This revised second
edition emphasizes the general equilibrium character of
macroeconomics to explain effects across the whole economy while
taking into account recent research in the field. It is the perfect
resource for students and researchers seeking coverage of the most
current developments in macroeconomics.
Michael Wickens lays out the core ideas of modern macroeconomics
and its links with finance. He presents the simplest general
equilibrium macroeconomic model for a closed economy, and then
gradually develops a comprehensive model of the open economy. Every
important topic is covered, including growth, business cycles,
fiscal policy, taxation and debt finance, current account
sustainability, and exchange-rate determination. There is also an
up-to-date account of monetary policy through inflation targeting.
Wickens addresses the interrelationships between macroeconomics and
modern finance and shows how they affect stock, bond, and
foreign-exchange markets. In this edition, he also examines issues
raised by the most recent financial crisis, and two new chapters
explore banks, financial intermediation, and unconventional
monetary policy, as well as modern theories of unemployment. There
is new material in most other chapters, including macrofinance
models and inflation targeting when there are supply shocks. While
the mathematics in the book is rigorous, the fundamental concepts
presented make the text self-contained and easy to use. Accessible,
comprehensive, and wide-ranging, "Macroeconomic Theory" is the
standard book on the subject for students and economists.The most
up-to-date graduate macroeconomics textbook available today General
equilibrium macroeconomics and the latest advances covered fully
and completely Two new chapters investigate banking and monetary
policy, and unemployment Addresses questions raised by the recent
financial crisis Web-based exercises with answers Extensive
mathematical appendix for at-a-glance easy reference
This book has been adopted as a textbook at the following
universities: American University Bentley College Brandeis
University Brigham Young University California Lutheran University
California State University - Sacramento Cardiff University
Carleton University Colorado College Fordham University London
Metropolitan University New York University Northeastern University
Ohio University - Main Campus San Diego State University St. Cloud
State University State University Of New York - Amherst Campus
State University Of New York - Buffalo North Campus Temple
University - Main Texas Tech University University of Alberta
University Of Notre Dame University Of Ottawa University Of
Pittsburgh University Of South Florida - Tampa University Of
Tennessee University Of Texas At Dallas University Of Washington
University of Western Ontario Wesleyan University Western Nevada
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