Do you want a book that provides an integrated view of macroeconomics?

Olivier Blanchard helps students to see the big macroeconomic picture by integrating one unifying model throughout the text.

Are you tired of macroeconomics texts that take too many shortcuts?

Olivier Blanchard gives thorough treatment to many concepts that other books just skim over, with the understanding that students will use these tools throughout their academic and professional careers.

Do you want a book that allows the greatest degree of flexibility in learning and teaching macroeconomics?

Olivier Blanchard’s organization allows for the greatest degree flexibility, so professors can direct their class as they see fit, and students can learn from a methodology that matches the goals of their course.

Blanchard presents a unified and global view of macroeconomics, enabling students to see the connections between the short-run, medium-run, and long-run.

Technological problems and growth, financial markets and expectations, the goods market in an open economy, monetary policy, and fiscal policy.

 For business professionals seeking to understand the macroeconomic picture of corporate businesses.

Olivier Blanchard is the Class of 1941 Professor of Economics at MIT. He did his undergraduate work in France, and received a Ph.D. in economics from MIT in 1977. He taught at Harvard from 1977 to 1982, and has taught at MIT since 1983. He has frequently received the award for best teacher in the department of economics.

He has done research on many macroeconomic issues, from the effects of fiscal policy, to the role of expectations, to price rigidities, to speculative bubbles, to unemployment in Western Europe, transition in Eastern Europe, and more recently, on labor market institutions. He has done work for many governments and many international organizations, including the World Bank, the IMF, the OECD, the EU commission and the EBRD. He has published over 150 articles and edited or written over 15 books, including Lectures on Macroeconomics with Stanley Fischer.

He is a research associate of the National Bureau of Economic Research, a fellow and a council member of the Econometric Society, a member of the American Academy of Arts and Sciences, and a past Vice President of the American Economic Association. He is also a member of the French Council of Economic Advisers.

He lives in Cambridge, with his wife, Noelle. He has three daughters, Marie, Serena, and Giulia.

INTRODUCTION

Chapter 1.                 A Tour of the World

Chapter 2.                 A Tour of the Book

THE CORE

THE SHORT RUN

Chapter 3.                 The Goods Market

Chapter 4.                 Financial Markets

Chapter 5.                 Goods and Financial Markets: The IS-LM Model

THE MEDIUM RUN

Chapter 6.                 The Labor Market

Chapter 7.                 Putting All Markets Together. The AS-AD Model.

Chapter 8.                 The Natural Rate of Unemployment and The Phillips Curve

Chapter 9.                 Inflation, Activity, and Nominal Money Growth

THE LONG RUN

Chapter 10.              The Facts of Growth

Chapter 11.              Saving, Capital Accumulation, and Output

Chapter 12.              Technological Progress and Growth

Chapter 13.              Technological Progress. The Short, the Medium, and the Long Run.

EXTENSIONS

EXPECTATIONS

Chapter 14.              Expectations: The Basic Tools

Chapter 15.              Financial Markets and Expectations

Chapter 16.              Expectations, Consumption, and Investment

Chapter 17.              Expectations, Output, and Policy

THE OPEN ECONOMY

Chapter 18.              Openness in Goods and Financial Markets

Chapter 19.              The Goods Market in an Open Economy

Chapter 20.              Output, the Interest Rate, and the Exchange Rate

Chapter 21.              Exchange Rate Regimes

PATHOLOGIES

Chapter 22.              Depressions and Slumps

Chapter 23.              High Inflation

BACK TO POLICY

Chapter 24.              Should Policy Makers Be Restrained?

Chapter 25.              Monetary Policy: A Summing Up

Chapter 26.              Fiscal Policy: A Summing Up

EPILOGUE

Chapter 27.              Epilogue: The Story of Macroeconomics

Appendix 1.      An Introduction to National Income and Product Accounts

Appendix 2.      A Math Refresher

Appendix 3.      An Introduction to Econometrics

Glossary.

Index.