At the cutting edge of the subject area the authors bring the macroeconomics that researchers
and policymakers use today into focus. By developing a coherent set of tractable models the
book enables students to explore and make sense of the pressing questions facing global
economies. Carlin and Soskice connect students with contemporary research and policy in
macroeconomics. The authors' 3-equation model - extended to include the financial system and
with an integrated treatment of inequality - equips students with a method they can apply to
the enduring challenges stirred by the financial crisis and the Great Recession. Key features
¿ Engaged with the latest developments in macroeconomic research policy and debate the
authors make the cutting edge accessible to undergraduate readers ¿ The theme of inequality is
integrated throughout in modelling and applications with incomplete contracts in labour and
credit markets underpinning the presence of involuntary unemployment and credit constraints ¿
The content distils business cycles into a 3-equation model of the demand side the supply side
and the policy maker providing a realistic and transparent model which students can deploy to
address the questions that interest them ¿ Open economy modelling for both flexible and fixed
exchange rate regimes builds on the same foundations and handles oil and climate shocks as
well as the Eurozone crisis ¿ Features thorough treatment of the financial system and how to
integrate the financial and business cycles including coverage on policy design and
implementation for financial stability in the wake of the 2008-9 financial crisis and an
exploration of hysteresis in the context of the Great Recession ¿ Comprehensive coverage of
monetary policy including the ample reserves regime and of fiscal policy and debt dynamics ¿
Unified treatment of exogenous and endogenous growth models emphasizing the different
mechanisms through which diminishing returns to capital can be offset while Chapter 17 on the
ICT revolution examines the implications of innovation and technological change on the future
of work and inequality ¿ Contains a chapter considering contemporary quantitative
macroeconomics research - including the Heterogeneous Agent New Keynesian (HANK) model -
exposing students to the tools that researchers currently use as well as the benefits and
limitations of these methods ¿ End-of-chapter 'Checklist questions' enable students to assess
their comprehension while 'Problems' prompt students to apply independent critical thought ¿
Also available as an e-book enhanced with access to The Macroeconomic Simulator Animated
Analytical Diagrams and self-assessment activities enabling students to recap content and
investigate how models work at their own pace Digital formats and resources This title is
available for students and institutions to purchase in a variety of formats and is supported by
online resources. The e-book offers a mobile experience and convenient access along with
self-assessment activities multi-media content and links that offer extra learning support.
For more information visit: www.oxfordtextbooks.co.uk ebooks This title is supported by a
range of online resource for students including multiple-choice-questions with instant feedback
interactive Animated Analytical Diagrams access to The Macroeconomic Simulator web appendices
which develop chapters 1 4 7 and 18 In addition lecturers can access PowerPoint slides to
accompany each chapter and answers to the problems and questions set in the book.
