Core Macroeconomics, Hilary Term 2015


The main textbook for the course is by W. Carlin & D. Soskice. There is a brand new edition out, but at least initially I will continue to refer to the 2006 version:

Macroeconomics: Imperfections, Institutions and Policies, OUP, 2006. I will often refer to this as "C&S".

The new edition is titled Macroeconomics: Institutions, Instability, and the Financial System, OUP, 2015. As the title suggests, this edition has more on financial crises. It is also supposed to have a better integration of the domestic "three-equation model" and the international economy model. But as I write this in early January, I haven't read any of the new edition yet. You can use either.

A more advanced text, in which the treatment is more technically difficult, but which also covers all the relevant topics, is D. Romer, Advanced Macroeconomics, McGraw-Hill, 2011 (4th ed.; earlier editions are fine).

For many topics, it may make sense to start with an "intermediate" level textbook before moving on to C&S or other readings assigned for the week. Mankiw, which you will probably be familiar with from your first year, is a good one. So too are the Burda & Wyplosz and Blanchard et al.

M. Burda and C. Wyplosz, Macroeconomics: a European Text, OUP, 2013 (6th ed.; earlier versions fine).

O. Blanchard, F. Giavazzi, and A. Amighini, Macroeconomics: a European Perspective, Pearson, 2013 (2nd edition; earlier, US, and "global" editions with other coauthors alongside Blanchard fine).

N. G. Mankiw and M. Taylor, Macroeconomics (European ed.), Worth, 2007 (6th ed.; earlier and US versions fine).

A textbook at about the same level as these, but with a very different approach - namely market clearing, equilibrium, new classical - that I think is well done is the following. I will assign a chapter in it for the real business cycles topic.

S. Williamson, Macroeconomics (International ed.), Pearson, 2014 (5th ed.; earlier versions fine).

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