• Economics of Monetary Union has established itself as the market-leading text in the field of economic monetary union. Lecturers can be confident that the book is a comprehensive and authoritative resource for their students.
• A balance of clear exposition of theory and topical real life examples ensures that students understand how the economics of monetary union work in the real world.
• The text is updated every two years to guarantee that the content is up to date, ensuring that the policy issues discussed are topical in this fast-evolving field.

New to this edition

• Expanded chapter on the benefits of a common currency, with discussion of proposals for an integrated payment system in the Eurozone
• Expanded discussion and empirical analysis of monetary unions outside Europe in chapter 4
• Increased discussion of the link between monetary and political union in chapter 4
• Expanded coverage of new member states in transition in chapter 6
• Updated discussion of the stability pact

Readership: All levels of undergraduate and postgraduate Economics students.

Paul De Grauwe, Department of Economics, Catholic University of Leuven, Belgium

Review(s) from previous edition

"The book presents a wide range of policy-oriented theoretical material in a lucid and terse manner, and it is based on an impressively wide grasp of the literature. - Jacques Melitz, Economics Department, University of Strathclyde

"I found the textbook very well explained. I know that students like the book and find it easy to understand." - Dr Virginie Boinet, Department of Economics and Finance, Brunel University

"Both undergraduate and graduate students find it accessible and friendly to use." - George Chouliarakis, Department of Economics, University of Essex

Costs and Benefits of Monetary Union
1: The Costs of a Common Currency
2: The Theory of Optimum Currency Areas: A Critique
3: The Benefits of a Common Currency
4: Costs and Benefits Compared
5: Optimal Currency Areas Case Studies: Is the Enlarged European Union an Optimal Currency Area? Is Latin America an Optimal Currency Area?
Monetary Union
6: Incomplete Monetary Unions: The European Monetary System, Dollarization
7: The Transition to a Monetary Union: Problems of Transition in Central Europe, Problems of Transition of the UK
8: The European Central Bank
9: Monetary Policy in Euroland
10: Fiscal Policies in Monetary Unions
11: The Euro and Financial Markets