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In the Seventh Edition of his seminal text, world-renowned economist Olivier Blanchard delivers a rigorous, yet intuitive, exploration of the forces that shape our economic world. Published by Pearson, this edition continues its legacy of providing a unified, global perspective on macroeconomics, making it an indispensable resource for students and aspiring economists.
Blanchard’s unique approach masterfully connects the dots between the goods, financial, and labor markets, offering a coherent framework to understand everything from business cycles and economic growth to the intricate policy decisions that follow. The text is structured to build knowledge logically, with a core section covering the short, medium, and long-run dynamics, complemented by in-depth extensions on crucial topics like expectations and the open economy.
What’s New in the Seventh Edition?
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Contemporary Relevance: Understand the real-world implications of macroeconomic theory with updated “Focus” boxes that delve into current events, such as monetary policy in the United States, the challenges of the Euro area, and the growth trajectory of China.
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Refined Models for Today’s Economy: This edition introduces a modernized IS-LM model that reflects how today’s central banks conduct policy by setting interest rates. It also extends the framework to differentiate between the policy rate and the borrowing rate, providing a clearer view of the financial system’s role.
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Updated Data: All figures, tables, and examples have been revised with the latest available data, ensuring students are analyzing the most current economic landscape.
Authored by a former Chief Economist of the International Monetary Fund (IMF), this textbook is distinguished by its authoritative insight and clarity. It doesn’t just teach the principles of macroeconomics; it empowers readers to analyze and make sense of the major economic events of our time and those yet to unfold.
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