For courses in Intermediate Macroeconomics or MBA level Macroeconomics for Managers. The fundamental goals of this text are to provide an integrated view of macroeconomics, and to make close contact with current macroeconomic events. This Intermediate Macroeconomics text is organized around a set of core chapters followed by three optional extensions. The core covers the short run, medium run and then long run and is then followed by the three extensions: openness, expectations, and pathologies. The book concludes with a section on policy although policy issues are also sprinkled through most chapters. The book is known for its global emphasis and empirical applications. The Third Edition has simplified many of the more difficult topics. Theoretical material is always presented in three ways: in words, in graphs, and with algebra.