International Economics: Global Edition

Series
Pearson
Author
Prof. Dr. Paul Krugman / Maurice Obstfeld / Marc Melitz  
Publisher
Pearson
Cover
Softcover
Edition
9
Language
English
Total pages
736
Pub.-date
March 2011
ISBN13
9780273754091
ISBN
0273754092
Related Titles



Description

Nobel Prize winning economist Paul Krugman and renowned researcher Maurice Obstfeld set the standard for International Economics courses with the text that remains the market leader in the U.S. and around the world.

This title is a Pearson Global Edition.  The Editorial team at Pearson has worked closely with educators around the world to include content which is especially relevant to students outside the United States.


International Economics: Theory and Policy is a proven approach in which each half of the book leads with an intuitive introduction to theory and follows with self-contained chapters to cover key policy applications. 

Available with MyEconLab!
All end-of-chapter problems are integrated into MyEconLab—Pearson's online assessment and tutorial system. Students get instant, targeted feedback, and instructors can encourage practice without needing to grade work by hand. For more information visit MyEconLab

Features

Nobel Prize winning economist Paul Krugman and renowned researcher Maurice Obstfeld set the standard for International Economics courses with the text that remains the market leader in the U.S. and around the world.

International Economics: Theory and Policy is a proven approach in which each half of the book leads with an intuitive introduction to theory and follows with self-contained chapters to cover key policy applications. 

Available with MyEconLab!
All end-of-chapter problems are integrated into MyEconLab—Pearson's online assessment and tutorial system. Students get instant, targeted feedback, and instructors can encourage practice without needing to grade work by hand. For more information visit MyEconLab.

  • The book is divided into trade and finance. Within each half, core theory chapters are followed by a series of application chapters that confront policy questions using the newest empirical work, data, and policy debates.
  • Coverage of international trade features:
    • An integrated treatment and empirical evidence of the latest models of trade, such as the gravity, Ricardian, factor endowments, and imperfect competition models.
    • A thorough discussion of the causes and effects of trade policy focuses on the income-distribution effects of trade.
    • An emphasis on the potential substitutability of international trade and international movements of factors of production in Chapter 7, featuring an analysis of international borrowing and lending as intertemporal trade–the exchange of present consumption for future consumption.
  • Coverage of international finance includes:
    • unified model of open-economy macroeconomics that provides students with a cohesive approach to the theory, based on an asset-market approach to exchange rate determination with a central role for expectations.
    • A discussion of the international monetary experience that stresses the idea that different exchange rate systems lead to different policy coordination problems.
  • Tools to help students master the material include the following:
    • Learning Goals begin each chapter and list the essential concepts so students understand what they need to take away from each chapter.
    • Case Studies illustrate theory using real-world applications and provide important historical context.
    • Special Boxes offer vivid illustrations of points made in the text. Topics include the political backdrops of Ricardo’s and Hume’s theories; the story of Bolivian hyperinflation; and adjustments to asymmetric shocks.
    • End-of-chapter Problems, many of which cite real data or policies, range from routine computational drills to more analytical questions and problems. All end-of-chapter problems are included in MyEconLab so that instructors can assign homework without needing to grade students’ work by hand.
    • Further Reading sections end each chapter, providing annotated bibliographies of both seminal works and recent articles to make it easier to develop course syllabi and encourage students to explore the material.

New to this Edition

NEW! Show the importance of MIS in business:New chapter-opening cases and accompanying movies (FlexTime and Fox River Golf Course). Each of the twelve chapter-opening cases is dramatized in a four-to-six minute video segment. The stories of FlexTime (Chapters 1-6) and Fox Lake (Chapters 7-12) were written and filmed to engage students’ interest and emotion, to provoke classroom discussion, and to motivate, in an entertaining way, students to learn the ensuing chapter concepts. Author-written teaching notes are available (in the Annotated Instructor’s Edition) for using these cases and videos in your classroom.

 

NEW! Get students using MIS in and out of the classroom:

  • Experiencing MIS InClass. Each chapter of this text includes an exercise called Experiencing MIS InClass. This feature contains exercises that ask students to work in groups and apply the chapter contents to contemporary situations. Some of these exercises can be done in a single class period, while others span several class sections with out-of-class activities.
  • Collaboration Exercises. The Collaboration Exercises use Google Docs, Office Live Workspaces, Microsoft SharePoint, or some other tool to collaborate on collective answers. These exercises help students practice the collaboration skills that will be important to them in the workplace.

Offer a glimpse into the future: 2021. Each chapter concludes with a discussion of how the concepts, technology, and systems described might change by the year 2021. This feature helps students anticipate changes in technology and understand how those changes may impact the future business environment.

 

NEW! Encourage students to practice using Excel and Access: Application exercises for Excel and Access 2010 appear throughout this text.


NEW! Focus on the value of social media: Social Capital. This text now includes a discussion of the theory of social capital. This text also highlights social capital’s relevance to social networking, and includes discussions of Enterprise 2.0 and the integration of social networking with CRM that comprises social CRM.


NEW! Assess students’ AACSB comprehension: Test Bank tied to AACSB objectives. The following six categories are AACSB Learning Standards:

  • Communication
  • Ethical Reasoning
  • Analytic Skills
  • Use of Information Technology
  • Multiculturalism and Diversity
  • Reflective Thinking

This text includes questions to test  the skills relevant to these standards by tagging them with the appropriate standard. For example, a question testing the moral questions associated with externalities would receive the Ethical Reasoning tag. Tagged questions help you measure whether students are grasping the course content that aligns with AACSB guidelines. In addition, the tagged questions may help to identify potential applications of these skills. This, in turn, may suggest enrichment activities or other educational experiences to help students achieve these goals.

Table of Contents

1 Introduction

Part 1 International Trade Theory

2 World Trade: An Overview
3 Labor Productivity and Comparative Advantage: The Ricardian Model
4 Specific Factors and Income Distribution
5 Resources and Trade: The Heckscher-Ohlin Model
6 The Standard Trade Model
7 External Economies of Scale and the International Location of Production
8 Firms in the Global Economy: Export Decisions, Outsourcing, and Multinational Enterprises


Part 2 International Trade Policy

9 The Instruments of Trade Policy
10 The Political Economy of Trade Policy
11 Trade Policy in Developing Countries
12 Controversies in Trade Policy


Part 3 Exchange Rates and Open-Economy Macroeconomics

13 National Income Accounting and the Balance of Payments
14 Exchange Rates and the Foreign Exchange Market: An Asset Approach
15 Money, Interest Rates, and Exchange Rates
16 Price Levels and the Exchange Rate in the Long Run
17 Output and the Exchange Rate in the Short Run
18 Fixed Exchange Rates and Foreign Exchange Intervention

Part 4 International Macroeconomic Policy

19 International Monetary Systems: An Historical Overview
20 Optimum Currency Areas and the European Experience
21 Financial Globalization: Opportunity and Crisis
22 Developing Countries: Growth, Crisis, and Reform