We use cookies to enhance your experience on our website. By continuing to use our website, you are agreeing to our use of cookies. You can change your cookie settings at any time. Find out more


Eighth Edition

Michael Burda and Charles Wyplosz

02 September 2022

ISBN: 9780192893574

632 pages

In Stock

Price: £57.99

The most applied macroeconomics textbook on the market, utilising case studies from the post-crisis macro economy to help students think like modern economists.



This text provides a comprehensive analysis of contemporary macroeconomics, within a European and global context. The authors balance the theoretical aspects with up-to-date policy examples throughout, allowing the reader to relate the concepts to their own economic environment.

  • Presents macroeconomics from a European perspective, making it easier for students to relate the concepts to their own economic environment
  • Provides a comprehensive and contextualised analysis of modern macroeconomics, balancing a theoretical outlook with current policy examples
  • Wealth of case studies from the post-crisis macro economy help students to think like modern economists
  • Updated to reflect current debates concerning the role of the banking system in the macroeconomy
  • Also available as an e-book enhanced with self-assessment activities and multi-media content to offer a fully immersive experience and extra learning support

New to this edition

  • Expanded coverage on income distribution in Chapters 5 and 18
  • New coverage on the Covid-19 pandemic crisis and its effects on labour and supply in Chapter 16
  • Revised content on the global financial crisis and the European debt crisis in Chapter 16
  • A new presentation on the secular stagnation hypothesis in Chapter 11
  • Updated debate about the flattening of the Phillips curve in Chapter 13
  • New content on public indebtedness in Chapter 17, including a new detailed discussion of the role of interest rates
  • Additional real-life examples, case studies, and non-standard monetary policies throughout

About the Author(s)

Michael Burda, Humboldt University, Berlin, Professor of Economics, and Charles Wyplosz, The Graduate Institute, Geneva, Professor of Economics

Table of Contents

    Part I: Introduction to Macroeconomics
    1:What is macroeconomics?
    2:Macroeconomic accounts
    Part II: The Macroeconomy in the Long Run
    3:The fundamentals of economic growth
    4:Labour markets and unemployment
    5:Money, prices, and exchange rates in the long run
    Part III: The Macroeconomy in the Short Run: the Building Blocks
    6:Borrowing, lending, and budget constraints
    7:Asset markets
    8:Private sector demand: consumption and investment
    9:Money and the demand for money
    10:The supply of money and monetary policy
    Part IV: Macroeconomic Equilibrium
    11:Macroeconomic equilibrium in the short run
    12:International capital flows and macroeconomic equilibrium
    13:Output, employment, and inflation
    14:Aggregate demand and aggregate supply
    15:The exchange rate
    Part V: Macroeconomic Policy in a Global Economy
    16:Demand management policies
    17:Fiscal policy, debt, and seigniorage
    18:Policies for the long run
    19:The architecture of the international monetary system


"Burda and Wyplosz have done a marvelous job for this eighth edition by further tweaking what has long since been an outstanding foundational book in macroeconomics. Macroeconomics: A European Text is superb in striking the right balance between theory and evidence and it remains peerless in integrating open economy aspects to the macroeconomics curriculum. The book continuous to be the go-to book for equipping undergraduate students with the thinking tools needed for understanding modern macroeconomics. " - Mark Weder, Professor of Economics, Aarhus University

"An excellent introduction to macroeconomics. It explains advanced concepts in easily understood models and language, with applications to real-world problems that helps students grow into mature economists. Many of Europe's economic challenges are different from those of the United States and other advanced countries, because of its unique nature of a large market made up of several smaller entities that have discretion over many aspects of economic management. It is most welcome to find a book that addresses these issues within a rigorous, yet approachable framework, that can help the reader engage in a well-informed discourse about our future. " - Sir Christopher Pissarides, Regius Professor of Economics, London School of Economics

"This is a superb and engaging macroeconomics text for those interested in Europe. It contains plenty of theory, empirics and case studies with excellent sections on income distribution and the global financial crisis. To be recommended strongly for those who want to teach macroeconomics for the real world. " - Rick Van der Ploeg ,Professor of Economics, Oxford University

Additional Resources

The eighth edition is available for students and institutions to purchase in a variety of formats and is supported by online resources.

The ebook offers a mobile experience and convenient access along with self-assessment activities, hyperlinked further reading functionality tools, navigation features and links that offer extra learning support:

Online student resources supporting the book include:
Sample exam questions
Multiple choice questions
Review questions
Web appendices
Web links
Video walkthroughs on trickier concepts for chapters 3,4,6,8,11,12,13,16, and 18

Online lecturer resources supporting the book include:
Power Point slides
Excel based exercises for macroeconomic modelling
Lecture plans
Solutions to end-of-chapter exercises -
Test bank