For the Fourth Edition of this innovative text, 2001 Nobel Laureate Joseph E. Stiglitz again joins forces with one of the world's top monetary economists, Carl E. Walsh, who brings both macroeconomic expertise and teaching savvy to the project. Together, Stiglitz and Walsh thoroughly integrate contemporary economics into the traditional curriculum. Highlights of the new edition are the continued unsurpassed coverage of the economics of information and imperfect markets, and the emphasis on the critical role of capital markets in the macro economy.

Stiglitz and Walsh embrace the information revolution as an opportunity to revitalize the presentation of economics by linking fundamental concepts and basic models to examples in the "new economy."

�ber die Autorinnen und Autoren

Joseph E. Stiglitz is a Nobel Prize–winning economist and the best–selling author of People, Power, and Profits: Progressive Capitalism for an Age of Discontent; Globalization and Its Discontents Revisited: Anti-Globalization in the Era of Trump; The Price of Inequality; and Freefall. He was chairman of the Council of Economic Advisers under President Clinton, chief economist of the World Bank, named by Time as one of the 100 most influential individuals in the world, and now teaches at Columbia University and is chief economist of the Roosevelt Institute.

Carl E. Walsh is professor of economics at the University of California, Santa Cruz. He is widely known for his research in monetary economics and is the author of a leading graduate text, Monetary Theory and Policy (MIT Press). Before joining the Santa Cruz faculty, Professor Walsh was senior economist at the Federal Reserve Bank of San Francisco, where he continues to be a visiting scholar.

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