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Principles of Macroeconomics in New Zealand


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This new adaptation of N. Gregory Mankiw's highly successful textbook, Principles of Macroeconomics, has been revised to address issues that are specific to New Zealand. Maintaining Mankiw's approach to teaching the fundamentals of economics, Principles of Macroeconomics in New Zealand explains key macroeconomics principles within the context of New Zealand's small open economy. Written for students new to the study of economics, the text offers an understanding of the ways economists view the world. It provides a balanced view of contemporary macroeconomics theory by taking a modern perspective that encompasses both long-run and short-run issues. Distinctive features of the New Zealand economy, such as large international capital flow and a banking system without reserve requirement, are also discussed. This adaptation is suitable for all introductory macroeconomics courses in New Zealand. To encourage students to relate economic theory to their own experiences, New Zealand examples are incorporated throughout, including references to the RBNZ and a explanation of New Zealand's particular connection with the Phillips curve. While having a New Zealand focus, the text also provides a solid international perspective. The economic growth of various countries around the world is compared and contrasted with the New Zealand experience. Macroeconomic debates within New Zealand are placed in a wider international context so as to apply lessons developed in the text and motivate classroom discussion.

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