Macroeconomics: Global and Southern African Perspectives (2nd Edition)

Description:

Master the forces that drive national economies with this specialized 2nd Edition. While Olivier Blanchard provides the world-class global framework, this edition is uniquely adapted to include “Southern African Perspectives.” It helps students understand the “why” behind inflation, unemployment, and exchange rate fluctuations specifically within the context of emerging markets like South Africa.

Why This Textbook is a “Must-Have” for Econ Students:

• Dual Perspective: Seamlessly blends global macroeconomic theory with local applications, covering the SARB’s monetary policy and SA’s fiscal challenges.

• The IS-LM Framework: Features Blanchard’s famous, simplified approach to the IS-LM model, making it “easy” to visualize how policy changes affect interest rates and output.

• Modern Macro: Includes updated sections on the “Liquidity Trap,” the aftermath of the global financial crisis, and modern labor market dynamics in developing nations.

• Data-Driven: Filled with “Focus” boxes that use real South African data to illustrate theoretical concepts.

Key Topics Covered:

• The Core: The Goods Market, Financial Markets, and the IS-LM Model.

• The Labor Market: Analyzing unemployment and the Phillips Curve.

• The Long Run: Economic growth, capital accumulation, and technological progress.

• Expectations: How future expectations impact consumption and investment.

• The Open Economy: Exchange rates, the Balance of Payments, and the Mundell-Fleming model.

• Policy: The role of the South African Reserve Bank (SARB) and Fiscal Policy.

Key Specifications:

• ISBN-13: 9781485709213

• Authors: Olivier Blanchard and David Johnson

• Publisher: Pearson South Africa

• Edition: 2nd Edition

• Format: Physical Paperback