Macroeconomics, 5th edition

Published by Pearson (October 10, 2024) © 2025

  • Olivier Blanchard
  • Jeffrey Sheen Macquarie University
  • Stella Huangfu
  • Ben Wang
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A unified view of recent macroeconomic events.

Suitable for intermediate economics courses, Macroeconomics presents an integrated, global view of the subject, and highlights the connections between goods, financial, and labour markets worldwide. A core section focuses on short-, medium-, and long-run markets while 2 extensions offer more in-depth coverage of the issues at hand.

This 5th local edition adapts the original US-based version of the text to Australasia. To do so, the text treats Australia as home and throughout, considers Australasian developments. Readers will find the local context and examples highly engaging and relevant, making it easier to make sense of current events and those that may unfold in the future. Macroeconomics effectively conveys the life of macroeconomics today, and helps students employ and develop their analytical and evaluative skills.

  • INTRODUCTION
  • Chapter 1. A Tour of the World
  • Chapter 2. A Tour of the Book
  • THE CORE
  • The Short Run
  • Chapter 3. The Goods Market
  • Chapter 4. Financial Market I
  • Chapter 5. Goods and Financial Markets: The IS-LM Model
  • Chapter 6. Financial Markets II: The Extended IS-LM Model
  • The Medium Run
  • Chapter 7. The Labour Market
  • Chapter 8. The Phillips Curve, the natural rate of unemployment and inflation
  • Chapter 9. From the short to the medium run: The IS-LM-PC model
  • The Long Run
  • Chapter 10. The Facts of Growth
  • Chapter 11. Saving, Capital Accumulation and Output
  • Chapter 12. Technological Progress and Growth
  • Chapter 13. The Challenges of growth
  • EXTENSIONS
  • Expectations
  • Chapter 14. Financial Markets and Expectations
  • Chapter 15. Expectations, Consumption, and Investment
  • Chapter 16. Expectations, Output and Policy
  • The Open Economy
  • Chapter 17. Openness in Goods and Financial Markets
  • Chapter 18. The Goods Market in an Open Economy
  • Chapter 19. Output, the Interest Rate and the Exchange Rate
  • Chapter 20. Exchange Rate Regimes
  • BACK TO POLICY
  • Chapter 21. Should Policymakers Be Restrained?
  • Chapter 22. Fiscal Policy: A Summing Up
  • Chapter 23. Monetary Policy: A Summing Up
  • EPILOGUE
  • Chapter 24. Epilogue: The Story of Macroeconomics

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