This book provides a very didactical and easy-to-read introduction to contemporary macroeconomics. The text covers the basic concepts and methods used in this field in an integrated manner . Theoretical considerations are consistently supported by real-world examples, various exercises and multiple choice equations. Special focus is given to various key aspects of the euro area economy.
This book is meant to represent a companion publication to the earlier and more basic book entitled “Fundamentals of monetary policy in the euro area” insofar as it covers topics that are more of a macroeconomic nature. Given the strong empirical focus that macroeconomics has witnessed over the last decades, the book aims at supplementing the basic concepts with a number of real-world examples conducted with adequate econometric tools.
Part I is meant to provide the reader with the basics. The key concepts are defined and some simple analysis is carried out in verbal and graphical form.
Part II takes some selected issues up and makes an attempt to dig deeper into the relevant issues. In particular, the institutional foundations of the European Economic and Monetary Union (EMU) are summarised and the process of European monetary integration is described in more detail. Additional topics are price indices and inflation, measures of real economic activity and unemployment.