International Economics 16e
ISBN-13: 9781305507449 / ISBN-10: 1305507444
Discover the proven, market-leading text that is a favorite among students of all backgrounds for its clear, concise treatment of international trade and finance theory. Now in its 16th edition, INTERNATIONAL ECONOMICS uses a wealth of contemporary examples and practical applications to vividly demonstrate the relevance of the theory you are learning to real-world economic issues and policy questions. The author presents discussions, both verbally and graphically, making the text highly understandable even if you have little economics background. This edition reflects the latest economic issues, from deindustrialization and declining oil prices to foreign exchange market rigging and deflation and the Eurozone, keeping your instruction both current and interesting. You will soon discover, “If it’s clear, concise, and contemporary, it has to be Carbaugh!”
- STREAMLINED PRESENTATION OF ESSENTIAL ECONOMIC THEORY PROVIDES A SOLID THEORETICAL FOUNDATION: The book’s clear and concise 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.
- TEXT DEMONSTRATES RELEVANCE OF THEORY THROUGH A WEALTH OF EXAMPLES AND APPLICATIONS: This edition’s memorable examples and practical applications highlight international economic theories at work in today’s real-world with illustrations of the complex consequences of outsourcing, globalization, free trade, tariffs, and exchange rate adjustments.
- SIX CENTRAL THEMES ARE INTEGRATED THROUGHOUT THE TEXT: These reader-friendly, engaging themes provide a strong emphasis on issues at the forefront of international economics today, including the global economic downturn, globalization, free trade and quality of life, trade conflicts between developing and industrial nations, trade liberalization, and the dollar as a reserve currency.
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1. The International Economy and Globalization.
Part I: INTERNATIONAL TRADE RELATIONS.
2. Foundations of Modern Trade Theory: Comparative Advantage.
3. Sources of Comparative Advantage.
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.
Part II: INTERNATIONAL MONETARY RELATIONS.
10. The Balance of Payments.
11. Foreign Exchange.
12. Exchange-Rate Determination.
13. Mechanisms of International Adjustment.
14. Exchange-Rate Adjustments and the Balance of Payments.
15. Exchange-Rate Systems and Currency Crises.
16. Macroeconomic Policy in an Open Economy.
17. International Banking: Reserves, Debt, and Risk.
- NEW UPDATES REFLECT THE LATEST ECONOMIC ISSUES: This new edition is thoroughly updated with content that reflects the latest economic issues throughout the world today.
- CHAPTER HIGHLIGHTS INTERNATIONAL ECONOMY WITH NEW EXAMPLE: Chapter 1 now illustrates principles with new coverage of the U.S. Apple Growers and Chinese competition.
- NEW ILLUSTRATION EXEMPLIFIES COMPARATIVE ADVANTAGE IN CHAPTER ON MODERN TRADE THEORY: Chapter 2 now covers “Deindustralization Redeploys Workers, Shifting Competitiveness in Shipping Routes.”
- CHAPTER ON NONTARIFF TRADE BARRIERS FOCUSES ON TIMELY ISSUES SUCH AS AVOIDING ANTIDUMPING DUTIES: A new illustration features the U.S.-Mexico Sugar Agreement, Vaughan Basset Furniture Co. and dumping in Chapter 5.
- NEW CONTENT EXEMPLIFIES CONTEMPORARY ISSUES IN TODAY’S TRADE REGULATIONS AND INDUSTRIAL POLICIES: Chapter 6 now highlights the impact of the U.S. eliminating restrictions on oil exports, export-import bank and Iran sanctions, and how Russia has been hit by sanctions over Ukraine.
- TIMELY ISSUES CAPTURE STUDENTS’ ATTENTION IN CHAPTER 7: Readers examine China’s challenges and how declining oil prices are testing OPEC in this chapter on Trade Policies for the Developing Nations.
- NEW, MEMORABLE EXAMPLES BRING CONTENT ON REGIONAL TRADING ARRANGEMENTS TO LIFE: Chapter 8 now includes new coverage of deflation and the Eurozone, a transpacific partnership, free trade agreements that bolster Mexico, as well as content on Greece and the Eurozone.
- CHAPTER 11 ON FOREIGN EXCHANGE INCORPORATES NEW EXAMPLES: Readers examine new content on currency carry trade and reserve currency burdens for the United States.
- LATER CHAPTERS NOW INTEGRATE NEW, TIMELY EXAMPLES: Readers review new content on foreign exchange market rigging in Chapter 12, examine if currency depreciation increases exports in Chapter 14 and review how the Swiss Franc has soared after pegged rate is scrapped in Chapter 15.
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.