Discover why this best-selling text is a favorite among students for its clear, concise presentation of international trade and finance theory. This edition uses the latest examples from around the world and updated, practical applications, demonstrating the relevance of the theory you are learning. See how concepts you are mastering apply to today's economic issues and global policy questions as you examine the economic impact of events such as sanctions imposed against Russia, the industrial policy of President Biden, the impact of Bitcoin on the reserve currency status of the U.S. and the effects of AI on workers. 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 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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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.