Mankiw's Macroeconomics is popular, widely adopted and well-known for clearly communicating the principles of Macroeconomics in a concise and accessible way. Every chapter of this textbook includes fully integrated real-world examples, stories and applications. These help to make economics accessible and entertaining while teaching intuitively and reinforcing critical concepts.
The European Edition keeps the formula that has made it a best-selling text, but introduces European cases and examples as well as relevant new theory content, for example there is a new chapter on European Monetary Union. The changes help to make an already successful book even more engaging and relevant for European students.
NEW TO THIS EDITION
* New chapter on European Monetary Union.
* Over 20 completely new case studies, with heavy adaptation of a further 25.
* 3 brand new 'For Your Information boxes.
Lessons about fiscal policy
In a small open economy with perfect capital mobility, fiscal policy is utterly incapable of affecting real GDP.
• closed economy:
Fiscal policy crowds out investment by
causing the interest rate to rise.
• small open economy:
Fiscal policy crowds out net exports by
causing the exchange rate to appreciate.
N. Gregory Mankiw
N. GREGORY MANKIW is Professor of Economics at Harvard University, based in Cambridge, Massachusetts, USA. He began his study of economics at Princeton University, where he received an AB in 1980. After earning a PhD in economics from the Massachusetts Institute of Technology, he began teaching at Harvard in 1985 and was promoted to full professor in 1987. Today, he regularly teaches both undergraduate and graduate courses in macroeconomics.
Личен сайт: http://gregmankiw.blogspot.com/
Mark P. Taylor
MARK P. TAYLOR is Professor of Macroeconomics and International Finance at the University of Warwick, UK and a Managing Director of Barclays Global Investors. He obtained his first degree in philosophy, politics and economics from Oxford University. He then worked as a foreign exchange dealer in London for two years, while simultaneously studying part-time for a master's degree in economics at London University, from where he also holds a doctorate in economics.