Modern Macroeconomics Second Edition

This new edition of a major textbook provides a clear and very accessible survey of macroeconomics for intermediate students, covering all recent developments. Special features include an extensive treatment of the open economy and explanations for high and persistent unemployment. The empirical content and policy discussion relates specifically to the United Kingdom. All the chapters have been revised and rethought to reflect new data, new research, and user’s comments. The most important change is one of structure: the presentation of theory is now organised around the three concepts of aggregate demand, aggregate supply, and macroeconomics equilibrium. New topics include economic growth and supply side economics.