Macroeconomics

“Compared to other textbooks I’ve used in the past, this book stands out as it is unique and innovative.” 

– Dr. Sambit Bhattacharyya, Professor of Economics and Head of Department of Economics, University of Sussex

“The book’s structure is robustly set up for continuing the evolution of economics education. I truly think it is the way forward for Macroeconomics teaching.”
– Dr. Drew Woodhouse, Senior Lecturer in Economics, Sheffield Hallam University

Macroeconomics is a distinctive, accessible, and authoritative guide that equips students with the tools to understand the forces shaping today’s global economy. Clear, concise, and packed with real-world relevance, it is the ideal companion for undergraduates seeking both academic success and practical insight.

Real-world case studies are interwoven throughout, including financial crises, pandemics, sovereign debt crises, quantitative easing and topical debate on economic policy to demonstrate how macroeconomic theory operates in practice. The text offers novel coverage of growth frameworks, including the Circular Economy, IO Modelling, ESG and EDI considerations. It connects macroeconomics with econometrics in a chapter dedicated to macroeconometrics, introducing simple and multiple regression analysis, preliminary data investigation, and the important concept of causality. Dynamic labour market models, including labour market flows and matching functions, are explored in depth, while a chapter on macroeconomic modelling provides students with a coherent analytical framework. The book also covers intertemporal macroeconomics with constrained utility optimisation and offers a perspective of the wider financial system, including financial instruments, innovations, derivatives, and an understanding of the mechanics of monetary policy.

Key featuresGuided learning: Each chapter opens with an overview and clear learning outcomes, giving students a roadmap of what they will achieve.Clarity and understanding: Key definitions, supported by figures, graphs, and tables, ensure complex concepts are accessible and easy to visualise.Application in practice: A wide range of real world, worked and hypothetical examples demonstrate how theory applies to real events and possible futures.Assessment support: Exercises throughout encourage active engagement and practice. Assessment advice offers practical tips, while exam-style questions and graded problems test understanding and build confidence.Further exploration: Chapter summaries reinforce key points for revision, and case studies extend learning beyond the text, encouraging critical enquiry and independent thinking.

Macroeconomics is available through McGraw Hill’s Connect® learning platform as an interactive, adaptive eBook alongside a wealth of ready-made course content for teaching, learning, practice and assessment. With a variety of tools to help with course management, insight and tracking, Connect helps faculty and institutions improve student outcomes and deliver courses more efficiently. To learn more, visit mheducation.co.uk/connect.

Dr Paul Middleditch is an Associate Professor of Macroeconomics at the University of Manchester, Director of the Centre for Innovation in Pedagogy, Associate Member of the Economics Network. He has received the Economics Network 'Outstanding Teaching Award' in 2013 and a University of Manchester Distinguished Achievement Medal 'Teacher of the Year' in 2014.