For the fourth edition of this innovative textbook, 2001 Nobel Prize winner Joseph E. Stiglitz again joins forces with top monetary economist, Carl E. Walsh. Together, they integrate contemporary economics into the traditional curriculum. Highlights are the continued coverage of the economics of information and imperfect markets, and the emphasis is on the critical role of capital markets in the macro economy.
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Joseph E. Stiglitz is a Nobel Prize–winning economist and the best-selling author of People, Power, and Profits; Globalization and Its Discontents Revisited; The Price of Inequality; and Freefall. He was chairman of the Council of Economic Advisers under President Clinton, chief economist of the World Bank, and now teaches at Columbia University and is chief economist of the Roosevelt Institute.
Carl E. Walsh is professor of economics at the University of California, Santa Cruz. He is widely known for his research in monetary economics and is the author of a leading graduate text, Monetary Theory and Policy (MIT Press). Before joining the Santa Cruz faculty, Professor Walsh was senior economist at the Federal Reserve Bank of San Francisco, where he continues to be a visiting scholar.
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