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Macroeconomic Theory:
A Dynamic General Equilibrium Approach (Second Edition)
New Second edition
Michael Wickens

Hardcover | 2012 | $78.50 / £55.00 | ISBN: 9780691152868
616 pp. | 7 x 10 | 12 line illus. 85 tables. | SHOPPING CART

eBook | ISBN: 9781400842476 |
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Available online only:  Exercises & Solutions (Ch. 2-14, First Edition); Note: An update to "Exercises & Solutions for the Second Edition" is in preparation

Adopted at these universities

Macroeconomic Theory is the most up-to-date graduate-level macroeconomics textbook available today. This revised second edition emphasizes the general equilibrium character of macroeconomics to explain effects across the whole economy while taking into account recent research in the field. It is the perfect resource for students and researchers seeking coverage of the most current developments in macroeconomics.

Michael Wickens lays out the core ideas of modern macroeconomics and its links with finance. He presents the simplest general equilibrium macroeconomic model for a closed economy, and then gradually develops a comprehensive model of the open economy. Every important topic is covered, including growth, business cycles, fiscal policy, taxation and debt finance, current account sustainability, and exchange-rate determination. There is also an up-to-date account of monetary policy through inflation targeting. Wickens addresses the interrelationships between macroeconomics and modern finance and shows how they affect stock, bond, and foreign-exchange markets. In this edition, he also examines issues raised by the most recent financial crisis, and two new chapters explore banks, financial intermediation, and unconventional monetary policy, as well as modern theories of unemployment. There is new material in most other chapters, including macrofinance models and inflation targeting when there are supply shocks. While the mathematics in the book is rigorous, the fundamental concepts presented make the text self-contained and easy to use. Accessible, comprehensive, and wide-ranging, Macroeconomic Theory is the standard book on the subject for students and economists.

  • The most up-to-date graduate macroeconomics textbook available today
  • General equilibrium macroeconomics and the latest advances covered fully and completely
  • Two new chapters investigate banking and monetary policy, and unemployment
  • Addresses questions raised by the recent financial crisis
  • Web-based exercises with answers
  • Extensive mathematical appendix for at-a-glance easy reference

This book has been adopted as a textbook at the following universities:

  • American University
  • Bentley College
  • Brandeis University
  • Brigham Young University
  • California Lutheran University
  • California State University - Sacramento
  • Cardiff University
  • Carleton University
  • Colorado College
  • Fordham University
  • London Metropolitan University
  • New York University
  • Northeastern University
  • Ohio University - Main Campus
  • San Diego State University
  • St. Cloud State University
  • State University Of New York - Amherst Campus
  • State University Of New York - Buffalo North Campus
  • Temple University - Main
  • Texas Tech University
  • University of Alberta
  • University Of Notre Dame
  • University Of Ottawa
  • University Of Pittsburgh
  • University Of South Florida - Tampa
  • University Of Tennessee
  • University Of Texas At Dallas
  • University Of Washington
  • University of Western Ontario
  • Wesleyan University
  • Western Nevada Community College

Michael Wickens is professor of economics at the University of York and at Cardiff Business School. He is the coeditor of Handbook of Applied Econometrics and was managing editor of the Economic Journal from 1996 to 2004. He is specialist adviser to the House of Lords on macroeconomics and a member of the Shadow Monetary Policy Committee.

Review:

"Accessible, comprehensive, and wide-ranging, Macroeconomic Theory will become the standard text for students and is ideal for economists, particularly those in government, central and commercial banking, and financial investment."--World Book Industry

Endorsement:

Praise for the previous edition: "This is an innovative graduate textbook that develops much of modern macroeconomics in the framework of stochastic general equilibrium models. The book is especially good for its integration of macro and finance."--Christopher Pissarides, London School of Economics and Political Science

Praise for the previous edition: "There are very few good textbooks on the dynamic general equilibrium approach to macroeconomics; Macroeconomic Theory fills a big void and provides a comprehensive and integrated approach to the subject that covers both real and monetary models. Professor Wickens develops a series of topics, beginning with real models of the economy and proceeding through growth, fiscal policy, financial models, and the modern approach to monetary economies. Each topic begins with theoretical background and proceeds to practical applications. The level is appropriate for master's or advanced undergraduate students and is a welcome addition to the field that is likely to be widely adopted."--Roger E. A. Farmer, University of California, Los Angeles

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      File created: 11/10/2014

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