Macroeconomics for Professionals

Leslie Lipschitz was an economist at the International Monetary Fund (IMF) for more than thirty-five years. He served as Director of the IMF Institute, taught at the School of Advanced International Studies at The Johns Hopkins University and at Bowdoin College, Maine, was a guest scholar at the Brookings Institution, worked and consulted with private financial institutions, and has written, spoken, and published widely on open-economy macroeconomics. Susan Schadler was an economist at the International Monetary Fund (IMF)for over thirty years. Her published articles and books cover exchange rate policies, economic growth and crises, how countries adjust in crises, and the integration of Eastern and Western Europe. Since leaving the IMF, she has been a senior member of St Antony's College, Oxford, senior fellow at the Atlantic Council and the Centre for International Governance Innovation, and a consultant for the IMF's Independent Evaluation Office.

1. Introduction, motivation, and overview; 2. Real economic activity; 3. Inflation, relative prices, and expectations; 4. Monetary policy and accounts; 5. The fiscal system; 6. Financial stability; 7. The external accounts.