Macroeconomics (Paperback)

Blanchard presents a unified view of macroeconomics, enabling students to see the connections between the short run, medium run, and long run. Salient Features* New definition of exchange rate defined as the price of domestic currency in terms of foreign currency* A discussion of whether we should think of the central bank as choosing the money stock or the interest rate has been introduced to spark student thought and interest.* Expanded discussion of inflation targeting and interest rate rules.* Many new boxes and discussions that focus on recent events and research Table of Contents Introduction* A Tour of the World* A Tour of the Book The Core* The Goods Market* Financial Markets* Goods and Financial Markets: The IS-LM Model* The Labor Market* Putting All Markets Together: The AS-AD Model* The Natural Rate of Unemployment and The Phillips Curve* Inflation, Activity and Nominal Money Growth* The Facts of Growth* Saving, Capital Accumulation and Output* Technological Progress and Growth* Technological Progress, Wages and Unemployment Extension: Expectations* 1Expectations: The Basic Tools* Financial Markets and Expectations* Expectations, Consumption and Investment* Expectations, Output and Policy Extention: The Open Economy* Openness in Goods and Financial Markets* The Goods Market in an Open Economy* Output, the Interest Rate and the Exchange Rate* Exchange Rate Regimes* Depressions and Slumps Extension: Pathologies* High inflation* Should Policy Makers Be Restrained?* Back to Policy* Monetary Policy: A Summing Up* Fiscal Policy: A Summing Up Epilogue* Epilogue: The Story of Macroeconomics