Roger E. Backhouse and Mauro Boianovsky have received the 2014 Best Book Award from the European Society for the History of Economic Thought for their book Transforming Modern Macroeconomics: Exploring Disequilibrium Microfoundations, 1956-2003 (Cambridge University Press, 2013).

The book explores the efforts of economists to develop a more rigorous macroeconomic theory in the second half of the twentieth century. Economic growth, rising prices, and then stagflation all needed to be explained. But economists also wanted to construct a macroeconomic theory that was rooted in microeconomic theory, a macroeconomic theory that could be ultimately traced to "microfoundations" or the behavior of households and firms.

As recipients of this year's Best Book Award, Roger and Mauro will deliver the Blanqui Lecture at the 2015 European Society meeting, which will be in Rome.

Transforming Modern Macroeconomics is part of Cambridge's series Historial Perspectives on Modern Economics, edited by Craufurd Goodwin.

For information on ordering the book, please see the publisher's website.