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The fundamental goals of this book are to provide an integrated view of macroeconomics, and to make close contact with current macroeconomic events. The book is now organized around two main parts, a core of eleven chapters, followed by a set of three major extensions. The core looks at the short run, the medium run and the long run. The extensions look at expectations, openness and pathologies. Theory and applications are continuously used to explain what is happening around the world. All theoretical material is presented by relating it to the real world. For anyone wanting to further their knowledge of macroeconomics.

This book conveys the excitement of macroeconomics, covering many of the main macroeconomic issues of the day--issues often missing from other texts. Its example-rich approach provides a strong emphasis on the role of expectations, the openness of modern economics, and the role of dynamics.

Olivier Blanchard

Olivier Jean Blanchard (born December 27, 1948, Amiens, France) is currently the chief economist at the International Monetary Fund, a post he has held since September 1, 2008. He is also the Class of 1941 Professor of Economics at MIT, though he is currently on leave. Blanchard is one of the most cited economists in the world, according to IDEAS/RePEc.

Blanchard earned his Ph.D. in Economics in 1977 at MIT. He taught at Harvard University between 1977 and 1983, after which he returned to MIT as a professor. Between 1998 and 2003 Blanchard served as the Chairman of the Economics Department at MIT. He is also an advisor for the Federal Reserve Banks of Boston (since 1995) and New York (since 2004).

Blanchard has published numerous research papers in the field of macroeconomics, as well as undergraduate and graduate macroeconomics textbooks (including his extremely popular Macroeconomics).