Macroeconomics

Reviews / Votes

This book is one of the best. It is truly international, modern, well-written, and rigorous where necessary. Andrew Newell, Head of Department of Economics, University of Sussex This new edition is a major accomplishment. It has two unique and invaluable features: it explains the modern approach to macroeconomics with simplicity and rigor, while retaining the focus on the special aspects of the European economy. Guido Tabellini, Bocconi University This well-known book by Michael Burda and Charles Wyplosz has justifiably established itself as a leading textbook for economics students interested in the European economy. It is well-written, well-illustrated and achieves a good balance between theory and practice. The fifth edition is more compact and better-written than the fourth edition. An important innovation is that monetary policy is now shown by the Taylor rule instead of the money supply rule of the conventional model. the ease with which the authors have built the "TR" curve into the conventional framework for short-run equilibrium is admirable. The conventional IS-LM model has guided our intuition about policy for many decades but current practice requires different thinking, and the fifth edition of Burda-Wyplosz is an excellent place to learn about it. Christopher Pissarides, LSE What sets Macroeconomics 5e by Burda and Wyplosz apart from the rest of the field is its wide-ranging treatment of macroeconomic theory, policy, and institutions within a Eurpean as well as an international context. This is and ideal intermediate text for economics and business students across Europe and the world. Thorvaldur Gylfason, University of Iceland