Discover why Carbaugh's best-selling INTERNATIONAL ECONOMICS, 18E is a favorite among students of all backgrounds for its clear, concise presentation of international trade and finance theory. This edition uses the latest examples from around the world as well as updated, practical applications to vividly demonstrate the relevance of the theory you are learning. You see how the concepts you are mastering apply to today's economic issues and global policy questions as you examine the economic impact of events such as Brexit, China's forced technology transfer, China's Belt Road initiative, the U.S.-Mexico-Canada agreement and the global pandemic. Written and visually driven discussions make content understandable even if you have little economics background. This edition is organized around five themes that emphasize global economics and trade issues. This streamlined presentation is clear, concise and contemporary with award-winning author Dr. Carbaugh.
1. The International Economy and Globalization.
PART I: International Trade Relations.
2. Foundations of Modern Trade Theory: Comparative Advantage.
3. Sources of Comparative Advantage.
4. Tariffs.
5. Nontariff Trade Barriers.
6. Trade Regulations and Industrial Policies.
7. Trade Policies for the Developing Nations.
8. Regional Trading Arrangements.
9. International Factor Movements and Multinational Enterprises.
International Monetary Relations.
10. The Balance-of-Payments.
11. Foreign Exchange.
12. Exchange Rate Determination.
13. Exchange Rate Adjustments and the Balance-of-Payments.
14. Exchange Rate Systems and Currency Crises.
15. Macroeconomic Policy in an Open Economy.
Glossary.
Index.
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Robert Carbaugh
Known for his excellence in teaching, Dr. Robert J. Carbaugh is professor of economics at Central Washington University. He has been honored with numerous top teaching awards, including the 1984 Excellence in Teaching award at the University of Wisconsin, Eau Claire and the Distinguished Professor of the University--Teaching award at Central Washington University in 1993. In 1996, Dr. Carbaugh was named Scholar of the Year by the Phi Kappa Phi Honorary Society at Central Washington University. In 2001, he received the Distinguished Professor of the University award for Research at Central Washington University. In 2004, Dr. Carbaugh was invited by the Directors of the Oxford Round Table to present a lecture, "Trade and Environmental Frictions in the Global Steel Industry," at Oxford University in England. For more than 40 years, Dr. Carbaugh has taught international economics as well as managerial economics, money and banking, and both introductory and intermediate levels of microeconomics and macroeconomics.
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NEW CONTENT THROUGHOUT CHAPTER 1 ADDRESSES THE ECONOMIC AND BUSINESS EFFECTS OF COVID-19. Students see how recent business and economic decisions and policies throughout the world have been impacted by Covid-19 pandemic and globalization.
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NEW MATERIAL IN CHAPTER 7 DISCUSSES CHINA'S BELT ROAD INITIATIVE. Students study this strategy initiated by China that seeks to connect Asia, Africa and Europe for increased trade and economic growth. Students also examine the potential risks of this initiative to U.S. economic interests.
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NEW MATERIAL (CH. 5) EXAMINES ECONOMIC CHANGES FROM PRESIDENT JOE BIDEN AND RECENT U.S. GOVERNMENT PROCUREMENT POLICIES. Students review both recent political events and the international economic impacts of the latest U.S. government policies and procedures.
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NEW CONTENT IN CHAPTER 8 DISCUSSES CURRENT WORLD EVENTS AS RECENT AS 2020, INCLUDING BREXIT. Students review the economic results as Brexit becomes a reality and the United Kingdom withdrawals from the European Union and European Atomic Energy Community.
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NEW CONTENT (CH. 7) DISCUSSES FORCED TECHNOLOGY TRANSFER AND CHINA. Students study the practice of force technology transfer in Chapter 7 as well as its impact for China and the foreign business that desire access to the Chinese market.
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NEW DISCUSSION IN CHAPTER 6 ADDRESSES CHINA'S ATTEMPT TO CORNER THE MARKET ON RARE EARTH METALS. New material in this chapter examines both China's efforts and activities to rival China's efforts.
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NEW COVERAGE REVIEWS THE U.S.-MEXICO-CANADA AGREEMENT. Students examine the modernizing of NAFTA and the resulting U.S.-Mexico-Canada Agreement in Chapter 8. New content reviews how this updated, rebalanced agreement from July 2020 is affecting the economy in North America.
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UPDATES EXAMINE THE AUTOMATION OF FOREIGN CURRENCY TRADING. In Chapter 11, students review the effects and economic repercussions as foreign currency trading becomes automated.
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STREAMLINED PRESENTATION OF THEORY PROVIDES GREATER FLEXIBILITY FOR YOUR COURSE. This edition's updated five main organizational themes now highlight globalization of economic activity, free trade and protectionism, trade conflicts between developing nations and industrial nations, liberalizing trade and turbulence in the global financial system.
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CLEAR, CONCISE PRESENTATION OF ESSENTIAL ECONOMIC THEORY PROVIDES A SOLID THEORETICAL FOUNDATION. Updated coverage of economic theory prepares readers for more in-depth explorations of contemporary issues, such as wage insurance, foreign aid, and free trade’s impact on the environment.
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A WEALTH OF CURRENT EXAMPLES AND UPDATED APPLICATIONS DEMONSTRATE THE RELEVANCE OF THE BOOK'S THEORY: This edition’s memorable examples and practical applications highlight international economic theories at work in today’s real world. Helpful illustrations depict the complex consequences of outsourcing, globalization, free trade, tariffs and exchange rate adjustments.
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FIVE CENTRAL THEMES, INTEGRATED THROUGHOUT THE TEXT, KEEP STUDENTS INVOLVED AND ACTIVELY LEARNING: These reader-friendly, engaging themes emphasize issues at the forefront of international economics today, including the globalization of economic activity, free trade and protectionism, trade conflicts between developing nations and industrial nations, liberalizing trade and turbulence in the global financial system.
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