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The market leader and the main specialist book in this area, De Grauwe has built on the success of the previous edition and thoroughly revised and updated this new edition of 'Economics of Monetary Union'. The text gives clear and concise coverage of all the key issues relating to monetary union and will fit with both undergraduate and postgraduate Economics modules. Student-friendly and well structured, the book is split into two parts. The first part examines the theory of optimal currency and the costs and benefits of joining a monetary union and the second part looks at the workings of the present monetary union in Europe. De Grauwe applies these issues to real life examples, including the question of the costs and benefits of joining the Euro for the UK and the independence and accountability of the European Central Bank. In addition, new, current topics have been added to the book, including the problems of monetary unification in Latin America and Asia and an analysis of dollarization. NEW TO THIS EDITION - New, current topics have been added to the book including: - the problems of monetary unification in Latin America and Asia - the transition problems towards EMU for the UK and Central Europe - an analysis of dollarization. - an evaluation of the monetary policies of the European Central Bank - Case studies analysing the costs and benefits of EMU for the UK and Central Europe. WEB SITE - This book now has a brand new text supporting web site with PowerPoint slides and Instructor's Manual which accompany and enhance the main text.