Economics of Monetary Union is the market leader and the main specialist book in this area. De Grauwe has once again built on the success of the previous edition and thoroughly revised and updated this new edition. Clear and concise, the book covers all the key issues relating to monetary union and will fit with both undergraduate and postgraduate economics modules. Student-friendly and well structured with numerous new exercises and examples, 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 then applies these issues to real life case study examples. This edition is supported by a companion website providing an Instructor's Manual and PowerPoint slides.