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“If anyone thought that the arrival of the euro would end interest in Irish macroeconomic developments, the events of the past six years has dispelled that illusion. (With this book) a new generation of Irish students will now be armed to help answer the biggest and most challenging economic policy question of today – how to consolidate the return to employment and income growth and manage down the burden of debt” Professor Patrick Honohan, Governor of the Central Bank of Ireland, 20th September 2013.

A new examination of macroeconomics that deals with topics relating to economic growth, unemployment and inflation, with particular emphasis on contemporary Irish and European economic issues.

  • Introduces the principles of macroeconomic theory and policy in a clear and concise way, with particular emphasis on small, open economies.

  • Discusses the origins of the current ‘Great Recession’, the Troika agreement and the sustainability of Ireland’s national debt.

  • Outlines alternative short- and long-run economic models and demonstrates how to use these models in evaluating today’s economic issues.

  • Provides students with an evaluation of the long-run economic performance of the Irish economy, looking at the factors that led to the present crisis and the policies that will help us emerge from it.

  • Looks at Ireland’s experience as a member of the euro area and the prospects for the euro area in light of the current crisis.

Written For:

Macroeconomics at undergraduate level in universities and Institutes of Technology
Macroeconomics modules at postgraduate level


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Publication Date

April 2013




Paperback, 720 pages

Country of Origin



Gill Education


1. Introduction to Macroeconomics
Appendix: Study Resources: the Irish Economy
2. National Income and Economic Performance
Appendix: Beyond GDP
3. Inflation
Appendix: Winners of the Nobel Prize in economics 1969-2011 S and their contributions to economics
4. The Labour Market and Unemployment
Appendix: The Cobb-Douglas production function and productivity
Appendix: The supply of labour in the long run
Appendix: The Live Register as a measure of unemployment
5. Introduction to the Theory of Income Determination
6. The Consumption Function and Income Determination
Appendix: Deriving the multiplier formula with saving, taxation and import leakages
7. Introduction to the Theory of Fiscal Policy
8. Fiscal Policy and Economic Planning in Practice: The Irish Record
9. Money and Banking
10. Money and Interest Rates in a Closed Economy
Appendix: Net present value


247 x 190 mm


By Anthony J. Leddin and Brendan M. Walsh

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Dr Anthony J. Leddin is Senior Lecturer in Economics at the Kemmy Business School, University of Limerick.

Prof. Brendan M. Walsh is Emeritus Professor, School of Economics, University College Dublin.

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