Summary

Macroeconomics is a general textbook in macroeconomics and provides examples from a wide international context. It therefore by necessity covers both standard introductory macroeconomic topics and also the latest concepts arising from study of this international context. Examples in the book that require mature economies relate to Europe and the U.S., upon which much of standard macroeconomic theory is based. Amongst others, issues spanning the U.S. 'twin deficits, ' the euro and European economic and monetary union are treated. Macroeconomics also covers the changing international economic order, including the WTO, the growth model of Latin America in contrast to East Asia, the transition of China and other recently marketised economies. It also examines the financial crises of the past two decades that have fundamentally overhauled theories surrounding liquidity crises, exchange rates and structural reforms related to liberalisation