Macroeconomics 1 THE LONG RUN. Production Prices and the Distribution of Income Interest Rates and Investment Consumption and the Natural Rate of Interest Capital Accumulation and Growth Wage Setting and Unemployment Money and Inflation in the Long Run 2 THE SHORT RUN. The Interest Rate and Production in the Short Run Economic Activity and Inflation in the Short Run 3 ECONOMIC POLICY. Monetary Policy Fiscal Policy 4 THE OPEN ECONOMY. Exports Imports and International Financial Markets The Open Economy in the Long Run The Open Economy in the Short Run Exchange Rate Systems and Monetary Union 5 BUSINESS CYCLES POLICYMAKING FINANCIAL MARKETS. Business Cycles Institutions and Economic Policy Financial Markets Macroeconomics presents a new approach to macroeconomics based on microeconomic foundations combined with Keynesian style short run policy analysis. The book features: a pronounced international stance systematically presenting data from several countries; consistent treatment of the long and short run and the closed and open economy; a highly relevant approach that takes account of market imperfections and rigidities which characterize real economies; up to date chapters on EMU business cycles institutions and policy and financial markets and crises; end of chapter summaries exercises with varying levels of difficulty plus appendices providing extension material Written in a clear and direct style Gottfriess Macroeconomics is the ideal textbook for students who seek a thorough understanding of modern macroeconomics in preparation for work or further study provided by publisher