3 Review(s)

Blanchard presents a unified view of macroeconomics, enabling students to see the connections between the short run, medium run, and long run. Salient Features New definition of exchange rate defined as the price of domestic currency in terms of foreign currency A discussion of whether we should think of the central bank as choosing the money stock or the interest rate has been introduced to spark student thought and interest. Expanded discussion of inflation targeting and interest rate rules. Many new boxes and discussions that focus on recent events and research