More than a decade after the publication of the critically acclaimed A Modern Guide to Macroeconomics, Brian Snowdon and Howard Vane have produced a worthy successor in the form of Modern Macroeconomics. Thoroughly extended, revised and updated, it will become the indispensable text for students and teachers of macroeconomics in the new millennium.
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"'Brian Snowdon and Howard Vane are well-known for their astute understanding of the main macroeconomic schools of thought and their skilled use of interviews with major figures. Here, they deploy a depth of scholarship in explaining the different schools and their key points of departure from one another. This book will be particularly useful to students looking for a clear, non-technical explanation of the main approaches to macroeconomics.' - Patrick Minford, Cardiff University, UK 'There are two steps to learning macroeconomics. First, to see it as it is today. Second, to understand how it got there: to understand the right and the wrong turns, the hypotheses that proved false, the insights that proved true, and the interaction of events and ideas. Only then, does one truly understand macroeconomics. This book is about step two. It does a marvellous job of it. The presentation is transparent, the interviews fascinating. You will enjoy, and you will learn.' - Olivier Blanchard, Massachusetts Institute of Technology, US 'In 40 years of teaching macroeconomics, there has been just one textbook that I have assigned year after year after year, namely, A Modern Guide to Macroeconomics by Snowdon, Vane and Wynarczyk. That altogether admirable book made clear to students what were, and are, the main intellectual issues in macroeconomics and did so with just enough formal modeling to avoid distortion by over-simplification. That book is now ten years old and the debate in macro has moved on. So there is good reason to welcome Snowdon and Vane back with this superb updated version.' - Axel Leijonhufvud, University of Trento, Italy 'This outstanding book avoids the narrow scope of most textbooks and provides an excellent guide to an unusually broad range of ideas.' - Thomas Mayer, University of California, Davis, US"
About the Author
Brian Snowdon, Principal Lecturer in Economics, Newcastle Business School, Northumbria University, UK and Howard R. Vane, Professor of Economics, School of Accounting, Finance and Economics, Liverpool John Moores University, UK
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Most Helpful Customer Reviews
13 of 13 people found the following review helpful
Format:Paperback
The book surveys all of the major intellectual trends within macroeconomics since Keynes. The writing is clear, which is atypical for most economics books, and the discussion is rich with lore and plenty of references (the bibliography is over 80 pages!) It really filled many gaps in my understanding of macro. I recommend this book for graduate macro students and advanced undergraduates; others might find it hard to appreciate the models and the ideas if they don't have a good understanding of at least intermediate macro. Last but not least, the interviews are truly inspirational; I found myself hurrying through the chapters to get to the interviews as quickly as possible!
8 of 8 people found the following review helpful
Format:Paperback
This book is a nice overview of the main macro theories with a non-mathematical slant. But do not take it for a macro "overview for dummies". To fully appreciate the subtle nuances between competing views, one must have a firm grasp of macroeconomics.
Also, the interviews are really enjoyable and enlightening.
As a suggestion for next editions, i would like to read an interview with michael woodford, and a full chapter on the "new neoclassical synthesis".
Also, the interviews are really enjoyable and enlightening.
As a suggestion for next editions, i would like to read an interview with michael woodford, and a full chapter on the "new neoclassical synthesis".
5 of 5 people found the following review helpful
By Daniel Nobre
Format:Paperback|Amazon Verified Purchase
This is a great summary of the evolution of macroeconomic thought since Keynes, as well as a good explantion of their fundamentals and issues.
All major schools are impartially approached in a textbook fasion, followed by well-conducted interviews with leading economists of each school, such as Tobin (orthodox keynesians), Friedman (monetarists), Lucas (new classicals), Prescott (RBC), just to mention a few. Some schools out of the mainstream are also approached, with lower bright though (austrians and post-keynesians).
The book is a great companion for intermediate undergrads: in addition to provide a historical perspective, it equips readers of intermedate popular textbooks to shed different lights on issues and models presented as 'official truths' - such books rarely leave room for alternative approaches, debates, or criticisms between schools (Froyen's is a great exception, along with Mankiw to a minor extent).
The only flaw is the shallow coverage of schools not-aligned with mainstram, such as those aforementioned ones, or full omission of some (such as evolutionary / neo-schumpeterian and other hetherodoxes). PKs and Austrians deserved shorter texts, though presented by iminent shcholars from those schools, but had no interview - therefore restricting a better comprehension, as such 'live talks' with prominent authorities of each is what 'gives soul' to their claims (it works like a diligent defense of their approaches, persuasively enriching the reading, as they explain, criticize, support, compare, etc).
In sum, a book like no other in account for the richness of macroeconomic thought, to be extended for alternative approaches - if split in two volumes as it will become almost encyclopedical, the expense of further costs will certainly pay off the broader and eccletic coverage to be provided.
All major schools are impartially approached in a textbook fasion, followed by well-conducted interviews with leading economists of each school, such as Tobin (orthodox keynesians), Friedman (monetarists), Lucas (new classicals), Prescott (RBC), just to mention a few. Some schools out of the mainstream are also approached, with lower bright though (austrians and post-keynesians).
The book is a great companion for intermediate undergrads: in addition to provide a historical perspective, it equips readers of intermedate popular textbooks to shed different lights on issues and models presented as 'official truths' - such books rarely leave room for alternative approaches, debates, or criticisms between schools (Froyen's is a great exception, along with Mankiw to a minor extent).
The only flaw is the shallow coverage of schools not-aligned with mainstram, such as those aforementioned ones, or full omission of some (such as evolutionary / neo-schumpeterian and other hetherodoxes). PKs and Austrians deserved shorter texts, though presented by iminent shcholars from those schools, but had no interview - therefore restricting a better comprehension, as such 'live talks' with prominent authorities of each is what 'gives soul' to their claims (it works like a diligent defense of their approaches, persuasively enriching the reading, as they explain, criticize, support, compare, etc).
In sum, a book like no other in account for the richness of macroeconomic thought, to be extended for alternative approaches - if split in two volumes as it will become almost encyclopedical, the expense of further costs will certainly pay off the broader and eccletic coverage to be provided.
Most Recent Customer Reviews
5.0 out of 5 stars
Modern Macro
The book Modern Macroeconomics: Its Origins, Development and Current State by Brian Snowdon was as described, very good price and quality. Thanks!
Published 3 months ago by Alex Carsey
5.0 out of 5 stars
by far the best book on the overviews of economic thoughts by school
If you are interested in the essence of economic schools of thoughts, this is the book to get.
There are many macroeconomics books that teaches what the mainstream... Read more
There are many macroeconomics books that teaches what the mainstream... Read more
Published 4 months ago by Lee Chang Won
5.0 out of 5 stars
Nice book
Nice book, organizes the macroeconomic development on the 20th century. Good interviews in the end of each chapter, with great economists.
Published 6 months ago by Fernando
4.0 out of 5 stars
Gets the message across, but not in a very entertaining way
This book give a good overview of macroeconomic schools from 1935 to 2000. The book requires you to be familiar with a standard undergraduate textbook in macroeconomics. Read more
Published 12 months ago by Jackal
5.0 out of 5 stars
an interesting book - highly useful too!
This is undoubtedly the best book for an advanced introduction to Macroeconomics at graduate level, before one takes up more technical macro/growth theory books like Romer,... Read more
Published on October 16, 2009 by Praveen Kishore
5.0 out of 5 stars
Good price, fast delivery.
This book is not easy to find at any price. The price was great and delivery was prompt. Great service.
Published on January 8, 2008 by Eric Belliveau
4.0 out of 5 stars
Modern Macroeconomics
Good book with interesting interviews. Interviews are conducted by economists who actually know what they are talking about.
Published on October 2, 2007 by Piso Mojado
5.0 out of 5 stars
An Excellent Book to Understand Macroeconomics
Reading this book will open your mind in understanding what does Economics talk about, especially in macro scope. Read more
Published on March 25, 2006 by N. Widyaningsih
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