When studying macroeconomics it is vital for students to be able to relate the principles and theories they learn to what is actually happening in their local economy. Macroeconomics: Australasian edition, continues to provide an integrated view of macroeconomics and to make close contact with current macroeconomic events. A comprehensive and fully integrated text, this book retains the underlying balance and integrity of the US version whilst adding significant local and regional content. The book's inclusion of an analysis of monetary policy, conducted using the short-term interest rate as the instrument of policy, helps to build students' understanding and better reflects the realities of the Australian economy. The comprehensive macroeconomic ideas and theories of the text have been applied to Australasian issues to make it the only intermediate macroeconomics book that has a truly Australasian focus. The addition of a new chapter on the macroeconomics of financial crises brings it right up to date.