In Macroeconomics, Blanchard presents a unified, global view of macroeconomics, enabling students to see the connections between goods markets, financial markets and labor markets worldwide. Organized into two parts, the text contains a core section that focuses on short-, medium- and long-run markets and three major extensions that offer more in-depth coverage of the issues at hand.
Features
• Current Events. Current macroeconomic events are integrated into each chapter of the book within the text and detailed boxes.

• Implications of Equilibrium. Blanchard offers a underlying model that draws the implications of equilibrium in three sets of markets: the goods market, the financial markets and the labor market.

• From the major economic crisis to the budget deficits of the United States, the detailed boxes in this text have been updated to convey the life of macroeconomics today and reinforce the lessons from the models, making them more concrete and easier to grasp.

• New Chapter on the economic crisis. Chapter 9: The Crisis focuses on the origins of the crisis, the role of the financial system and the constraints facing fiscal and monetary policy, such as the liquidity trap and the high level of public debt.

• New Chapter 23 on Fiscal Policy has been substantially re-written to focus on the current debt problems of the United States.

Table of Contents Chapter 1. A Tour of the World
Chapter 2. A Tour of the Book
Chapter 3. The Goods Market
Chapter 4. Financial Markets
Chapter 5. Goods and Financial Markets: The IS-LM Model
Chapter 6. The Labor Market
Chapter 7 Putting All Markets Together: The AS/AD Model
Chapter 8. The Phillips Curve, the Natural Rate of Unemployment and Inflation
Chapter 9. The Crisis
Chapter 10. The Facts of Growth
Chapter 11. Saving, Capital Accumulation and Output
Chapter 12. Technological Progress and Growth
Chapter 13. Technological Progress. The Short, the Medium and the Long Run
Chapter 14. Expectations: The Basic Tools
Chapter 15. Financial Markets and Expectations
Chapter 16. Expectations, Consumption and Investment
Chapter 17. Expectations, Output and Policy
Chapter 18. Openness in Goods and Financial Markets
Chapter 19. The Goods Market in an Open Economy
Chapter 20. Output, the Interest Rate and the Exchange Rate
Chapter 21. Exchange Rate Regimes
Chapter 22. Should Policy Makers be Restrained?
Chapter 23. Fiscal Policy: A Summing Up
Chapter 24. Monetary Policy: A Summing Up
Chapter 25. Epilogue: The Story of Macroeconomics

About the Author

Olivier Blanchard : A citizen of France, Olivier Blanchard has spent most of his professional life in Cambridge, Massachusetts. After obtaining his PhD in economics at the Massachusetts Institute of Technology in 1977, he taught at Harvard University,