However, apart from the personal writing style, which in Blanchard's case is truly captivating, the layout and content of this material constitute a comparative advantage for this book.

More specifically:

• The distinction between the short-term and long-term period. Modern macroeconomic theory emphasizes the long-term period (where trends are observed over a decade) due to the significance of economic development. Traditional theory focuses on business cycles and thus emphasizes the short-term.
• Development. This manual incorporates contemporary development theory into its content. Development affects the standard of living more than cyclical fluctuations, a fact that other manuals often overlook.
• Coverage of the Keynesian model. Most economists consider it their duty to teach this model in detail.
• Emphasis on schools of macroeconomic thought. For the first time in an undergraduate manual, there is a summary of the contributions of the great figures of macroeconomic thought. Macro-economic disputes should be highlighted and not ignored.

(Christos Nikas)