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Published: 01 June 2017

624 Pages


ISBN: 9780198737513

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This text is published by OUP Higher Education Division

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a European Text

Seventh Edition

Michael Burda and Charles Wyplosz

  • The most applied macroeconomics textbook on the market, utilising case studies from the post-crisis macro economy to help students think like modern economists.
  • Presents macroeconomics from a European perspective making it easier for students to relate the concepts to their own economic environment.
  • Provides a comprehensive analysis of modern macroeconomics with a balance of theoretical approaches; fully up-to-date with the most current debates over the role of the banking system in the macroeconomy.
  • A wealth of online content provides lecturers with a ready bank of practical resources to use in their teaching and gives students the opportunity to test their understanding of key concepts.

New to this Edition:

  • The chapter on Money and Monetary Policy has been expanded into two new chapters: 'Money and Interest Rates' and 'Monetary Policy, Banks, and Financial Stability.
  • The banking system has been brought to the fore in the authors' description of the macroeconomic system and characterization of monetary policy.
  • Coverage of the interest rate's zero lower bound, quantitative easing, bank regulation, and the role of shadow banking has been included in Chapter 7 'Asset Markets'.
  • Coverage of the banking and European debt crises, European monetary union and money markets in a fixed exchange rate has been increased.
  • Chapter 14 'Aggregate Demand and Aggregate Supply' has been streamlined and simplified to aid understanding.
  • The new IMF standards for measuring balance of payments have been adopted.
  • The IS-TR chapters in the closed and open economy, in addition to the central model chapters, have been thoroughly revised.

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