For the fourth edition of this innovative textbook, 2001 Nobel Prize winner Joseph E. Stiglitz again joins forces with top monetary economist, Carl E. Walsh. Together, they integrate contemporary economics into the traditional curriculum. Highlights are the continued coverage of the economics of information and imperfect markets, and the emphasis is on the critical role of capital markets in the macro economy.
Joseph Stiglitz has written an excellent introduction to macroeconomics, including a complete introduction to ISLM economic theory at full employment and with significant unemployment. There is an excellent introduction to monetary theory by this nobel laureate economist and former official of the World Bank. This is a book that undergraduates students and teachers can appreciate. Conservative proponents should recognize that learning from a master economist no less worthy than appreciating the wisdom J.M. Keynes or James Tobin.
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