This is a new Australian adaptation of the latest US edition of the best-selling Dornbusch, 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.
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RUDI DORNBUSCH is a Ford Professor of Economics and International Management at MIT. He did his undergraduate work in Switzerland and holds a Ph.D. from the University of Chicago. He has taught at Chicago, at Rochester, and since 1975 at MIT. His research is primarily in international economics, with a major macroeconomic component. His special research interests are the behavior of exchange rates, high inflation and hyperinflation, and the problems and opportunities that high capital mobility poses for developing economies. He visits and lectures extensively in Europe and in Latin America, where he takes an active interest in problems of stabilization policy, and has held visiting appointments in Brazil and Argentina. His writing includes Open Economy Macroeconomics and, with Stanley Fischer and Richard Schmalensee, Economics. His interests in public policy take him frequently to testify before Congress and to participate in international conferences. He regularly contributes newspaper editorials on current policy issues here and abroad. http://web.mit.edu/rudi/www/
STANLEY FISCHER is First Deputy Managing Director of the International Monetary Fund, on leave from the Department of Economics at MIT. He was an undergraduate at the London School of Economics and has a Ph.D. from MIT. He taught at the University of Chicago while Rudi Dornbusch was a student there, starting a long friendship and collaboration. He has been a member of the faculty of the MIT Economics Department since 1973. During that period he has taken leaves at the Hebrew University in Jerusalem and at Stanford. From 1988 to 1990 he was Chief Economist at the World Bank. He joined the IMF in 1994. His main research interests are economic growth and development; international economics and macroeconomics, particularly inflation and its stabilization; and the economics of transition. www.imf.org/external/np/omd/bios/sf.htm
RICHARD STARTZ is Castor Professor of Economics at the University of Washington. He was an undergraduate at Yale University and received his Ph.D. from MIT, where he studied under Stanley Fischer and Rudi Dornbusch. He taught at the Wharton School of the University of Pennsylvania before moving on to the University of Washington, and he has taught, while on leave, at the University of California – San Diego, the Stanford Business School, and Princeton. His principal research areas are macroeconomics, econometrics, and the economics of race. In the area of macroeconomics, much of his work has concentrated on the microeconomic underpinnings of macroeconomic theory. His work on race is part of a long-standing collaboration with Shelly Lundberg. www.econ.washington.edu/user/startz
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