Macroeconomics

This is a new Australian adaptation of the latest US edition of the best-selling Dornbusch's "Macroeconomics 8/E". The Australian edition closely follows the basic structure of the International edition but has been extensively 'Australianised'. The chapters on the open economy have been extended to include information on the Asian and New Zealand economies and two chapters have been added to emphasise the international perspective. The book can be used for a variety of courses, ranging from an overview through to an in-depth study with either a Keynesian or Classical focus. Through the use of selected chapters, it is also ideal for business school courses. Straightforward explanations and an emphasis on concepts make the text accessible for most students. Extensive footnotes referencing the latest research and additional reading, together with 'optional', more difficult sections, cater for those wishing to undertake a deeper study of the topic. About the Author RUDI DORNBUSCH (19422002) was Ford Professor of Economics and International Management at MIT. He did his undergraduate work in Switzerland and held a PhD from the University of Chicago. He taught at Chicago, at Rochester, and from 1975 to 2002 at MIT. His research was primarily in international economics, with a major macroeconomic component. His special research interests included the behavior of exchange rates, high inflation and hyperinflation, and the problems and opportunities that high capital mobility pose for developing economies. He lectured extensively in Europe and in Latin America, where he took an active interest in problems of stabilization policy, and held visiting appointments in Brazil and Argentina. His writing includes Open Economy Macroeconomics and, with Stanley Fischer and Richard Schmalensee, Economics. PHILIP BODMAN is a Senior Lecturer of Economics at the University of Queensland. He did his undergraduate studies and also obtained a Masters degree at the University of Essex in the United Kingdom. He holds a PhD from Queen's University in Canada, where he also taught intermediate macroeconomics. His research interests are in the areas of macroeconomics specifically, business cycle modelling and international influences on the Australian economyand labour economicsin particular, the economics of unemployment and education and the economics of crime. His work on the econometric modelling of business cycles is part of an ongoing collaboration with Mark Crosby. Philip has taught extensively in intermediate and advanced macroeconomics, labour economics, advanced applied econometrics and international economics. He has been a Visiting Professor at the University of Melbourne and has worked closely with government bodies such as the Queensland Treasury MARK CROSBY is a Senior Lecturer of Economics at the Melbourne Business School and was previously at the University of Melbourne. He did his undergraduate studies at Adelaide University and completed his PhD at Queen's University in Canada, where he began a long friendship and collaboration with Phil Bodman. He has been a Research Fellow at the Hong Kong Institute for Monetary Research and has also been a member of the faculty at the University of Toronto and the University of New South Wales, as well as being a visitor at the Universitï¿ du Quebec ï¿ Montrï¿al. Mark's research interests are in the areas of exchange rate determination, economic growth and monetary policy. www.economics.unimelb.edu.au/mcrosby/home.html STANLEY FISCHER is governor of the Bank of Israel. Previously he was vice chairman of Citigroup and president of Citigroup International, and from 1994 to 2002 he was first deputy managing director of the International Monetary Fund. He was an undergraduate at the London School of Economics and has a PhD from MIT. He taught at the University of Chicago while Rudi Dornbusch was a student there, starting a long friendship and collaboration. He was a m