- The market leading text in the field of economic monetary union
- Comprehensive coverage of all key issues relating to monetary union, newly updated to take account of recent developments, ensuring students are aware of contemporary issues
- Explains the theoretical background of monetary union, putting current EMU issues in context of economic theory
- Pedagogy features even more case studies and end of chapter questions to aid student learning
- Supported by a companion web site featuring an Instructor's Manual and PowerPoint slides to assist lecturers using this book
New to this edition
- Expanded chapter on transition, helping students understand the issues relating to the enlargement of the eurozone
- Expanded discussion of monetary unions outside the EU, encouraging students to gain an appreciation of contemporary global issues
- Expanded chapter on the international role of the euro and the implications of financial integration, helping students to see EMU in its global context
- More institutional detail on the Stability Pact
- More case studies, helping students to understand the practical implications of EMU
- End of chapter questions to consolidate learning
- Supported by a companion web site featuring an Instructor's Manual and PowerPoint slides to assist lecturers using this book
'Economics of Monetary Union' is the market leader and the main specialist book in this area. De Grauwe has once again built on the success of the previous edition and thoroughly revised and updated this new edition. Clear and concise, the book covers all the key issues relating to monetary union and will fit with both undergraduate and postgraduate economics modules.
Student friendly and well structured with numerous new exercises and examples, the book is split into two parts. The first part examines the theory of optimal currency and the costs and benefits of joining a monetary union and the second part looks at the workings of the present monetary union in Europe. De Grauwe then applies these issues to real life case study examples.
This edition is supported by a companion website providing an Instructor's Manual and PowerPoint slides.
Reviews
- 'Review from previous edition The book presents a wide range of policy-oriented theoretical material in a lucid and terse manner, and it is based on an impressively wide grasp of the literature.' -Jacques Melitz, Economics Department, University of Strathclyde
- 'I found the textbook very well explained. I know that students like the book and find it easy to understand.' -Dr Virginie Boinet, Department of Economics and Finance, Brunel University
- 'Both undergraduate and graduate students find it accessible and friendly to use.' -George Chouliarakis, Department of Economics, University of Essex
Contents
- Costs and Benefits of Monetary Union
- 1 The Costs of a Common Currency
- 2 The Theory of Optimum Currency Areas: A Critique
- 3 The Benefits of a Common Currency
- 4 Costs and Benefits Compared
- 5 Optimal Currency Areas Case Studies: Is the Enlarged European Union an Optimal Currency Area? Is Latin America an Optimal Currency Area?
- Monetary Union
- 6 Incomplete Monetary Unions: The European Monetary System, Dollarization
- 7 The Transition to a Monetary Union: Problems of Transition in Central Europe, Problems of Transition of the UK
- 8 The European Central Bank
- 9 Monetary Policy in Euroland
- 10 Fiscal Policies in Monetary Unions
- 11 The Euro and Financial Markets
- Comprehensive coverage of all key issues relating to monetary union, newly updated to take account of recent developments, ensuring students are aware of contemporary issues
- Explains the theoretical background of monetary union, putting current EMU issues in context of economic theory
- Pedagogy features even more case studies and end of chapter questions to aid student learning
- Supported by a companion web site featuring an Instructor's Manual and PowerPoint slides to assist lecturers using this book
New to this edition
- Expanded chapter on transition, helping students understand the issues relating to the enlargement of the eurozone
- Expanded discussion of monetary unions outside the EU, encouraging students to gain an appreciation of contemporary global issues
- Expanded chapter on the international role of the euro and the implications of financial integration, helping students to see EMU in its global context
- More institutional detail on the Stability Pact
- More case studies, helping students to understand the practical implications of EMU
- End of chapter questions to consolidate learning
- Supported by a companion web site featuring an Instructor's Manual and PowerPoint slides to assist lecturers using this book
'Economics of Monetary Union' is the market leader and the main specialist book in this area. De Grauwe has once again built on the success of the previous edition and thoroughly revised and updated this new edition. Clear and concise, the book covers all the key issues relating to monetary union and will fit with both undergraduate and postgraduate economics modules.
Student friendly and well structured with numerous new exercises and examples, the book is split into two parts. The first part examines the theory of optimal currency and the costs and benefits of joining a monetary union and the second part looks at the workings of the present monetary union in Europe. De Grauwe then applies these issues to real life case study examples.
This edition is supported by a companion website providing an Instructor's Manual and PowerPoint slides.
Reviews
- 'Review from previous edition The book presents a wide range of policy-oriented theoretical material in a lucid and terse manner, and it is based on an impressively wide grasp of the literature.' -Jacques Melitz, Economics Department, University of Strathclyde
- 'I found the textbook very well explained. I know that students like the book and find it easy to understand.' -Dr Virginie Boinet, Department of Economics and Finance, Brunel University
- 'Both undergraduate and graduate students find it accessible and friendly to use.' -George Chouliarakis, Department of Economics, University of Essex
Contents
- Costs and Benefits of Monetary Union
- 1 The Costs of a Common Currency
- 2 The Theory of Optimum Currency Areas: A Critique
- 3 The Benefits of a Common Currency
- 4 Costs and Benefits Compared
- 5 Optimal Currency Areas Case Studies: Is the Enlarged European Union an Optimal Currency Area? Is Latin America an Optimal Currency Area?
- Monetary Union
- 6 Incomplete Monetary Unions: The European Monetary System, Dollarization
- 7 The Transition to a Monetary Union: Problems of Transition in Central Europe, Problems of Transition of the UK
- 8 The European Central Bank
- 9 Monetary Policy in Euroland
- 10 Fiscal Policies in Monetary Unions
- 11 The Euro and Financial Markets