on 17 November 2011
I am currently doing a PhD in Economic History and have always been a fan of the matter of fact descriptive and explanatory nature of macroeconomics by people like Krugman and Rajan. However, when it came to some exhange rate theories or concepts in international capital flows discussed by Eichengreen, I was unaware of some fundamentals. Usually these type of books are either bizarrely mathematically abstract with no foundations in the real world or very descriptive without models. This book for the first time strikes a beautiful balance between both. I'd imagine Krugmans International Macroeconomics does the same but the price differential was too great and this Macroeconomics course I am taking at present has been working with this book for years. Its easy to see why. It does assume a basic knowledge of economic fundamentals but does not lose you in equations before writing about the concepts involved first, be it balance of payments or exchange rates etc. Thoroughly recommended-I dont really ever write reviews but this book impressed me so much that I felt I had to.
on 18 January 2006
This is easily the best of the books that I have had delivered to cover our course in international macroeconomics this term. It covers the balance of payments,exchange rates, the European Monetary Union and the Asian financial crisis. There is a great balance between the theory and data - we are also using another book which only has theory but surely it should be a combination if students is to remain interested. Although the course has been only running for a couple of weeks this book is proviing to be a great investment.
on 10 October 2010
This UK text is beautifully written and the mathematics that underpins the economic models is clearly explained.
For example, the Keynesian IS / LM / BP loci are derived with reference to Keynesian algebra, and the contrasting methodology of the monetarist approach is outlined in comprehensible mathematical jargon. Like all good texts, the empirical validity of the models is appraised.
The analysis of economic 'shocks' for each model is logically expounded and, in summary, alongside Laurence Copeland's text,this is a must-buy for any undergraduate.
(Incidentally, I graduated in the 1980s, but, being unemployed, this text keeps me out of mischief).
on 11 January 2011
The books offers not just a theory, but examines extensively empirical evidence of the proposed concepts like exchange rate models and purchasing power parities, which is extremely interesting and valuable. I can recommend the book for all who are interested in international economics.