Macroeconomics presents a new approach to macroeconomics, based on microeconomic foundations combined with Keynesian-style short-run policy analysis. The book features: • A pronounced international stance, systematically presenting data from several countries • Consistent treatment of the long and short run and the closed and open economy • A highly relevant approach that takes account of market imperfections and rigidities, which characterize real economies • Up-to-date chapters on EMU, business cycles, institutions and policy, and financial markets and crises • End of chapter summaries, exercises with varying levels of difficulty, plus appendices providing extension material Written in a clear and direct style, Gottfries's Macroeconomics is the ideal textbook for students who seek a thorough understanding of modern macroeconomics in preparation for work or further study.