Global Economics, International Edition 13e
ISBN-13: 9781439040447 / ISBN-10: 1439040443
Now in its Thirteenth Edition, this proven, market-leading text remains a favorite among students and instructors alike for its clear, concise treatment of international trade and finance theory. Using a wealth of contemporary examples and practical applications, GLOBAL ECONOMICS, 13e, International Edition vividly demonstrates the relevance of theory to real-world economic issues and policy questions. Discussions are presented both verbally and graphically, making the text highly accessible even for students with little economics background, and a flexible format makes the text suitable for a wide range of course structures and subjects. As delighted students and instructors have discovered, “if it’s clear, concise and contemporary, it has to be Carbaugh!”
- A streamlined, concise presentation of essential economic theory allows you to provide a solid theoretical foundation for more in-depth explorations of contemporary issues such as wage insurance, foreign aid, and free trade’s impact on the environment.
- The text demonstrates the relevance of theory through a wealth of up-to-date, real-world examples and applications, including illustrations of the complex consequences of outsourcing, globalization, free trade, tariffs, and exchange rate adjustments.
- The flexible format of GLOBAL ECONOMICS, 13e, International Edition enables you to present material in the order most appropriate for your course structure and goals by teaching chapters in a different order, or by easily teaching or omitting key portions of selected chapters.
- Six central themes are integrated through the text to provide a strong emphasis on issues at 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.
1. The International Economy and Globalization.
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.
10. The Balance of Payments.
11. Foreign Exchange.
12. Exchange-Rate Determination.
13. Balance-of-Payments Adjustments.
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.
- The Thirteenth Edition devotes considerable coverage to the “Global Economic Downturn of 2007-2009” to help students understand this important real-world situation. Coverage includes an overview of the crisis in chapter 1, as well as exploration of issues such as trade protectionism, the U.S. fiscal stimulus and “Buy American” legislation, government subsidies to automakers, falling commodity prices and developing economies, the U.S. tax code and outsourcing, and global capital flows.
- In addition to emphasizing current economic themes and trends, the new edition has been updated to include many contemporary topics such as outsourcing and the U.S. auto industry, U.S. importation of Chinese textiles, the disenchantment of some national industry groups with the euro currency, the impact of global competition, and day trading in currency markets.
- New, online “Exploring Further” sections support exploration and discussion of more advanced topics whenever appropriate based on course requirements or student interest, while freeing more room in the text for expanded coverage of economic theory and its contemporary applications.
- The online “Exploring Further” sections allow students to learn more about important current topics in international economics, including comparative advantage in money terms, indifference curves and trade, offer curves and trade equilibrium terms and tariffs, the specific-factors theory, welfare effects of strategic trade policy and tariff-rate and export quotas, foreign-exchange trading and market speculation techniques, fundamental forecasting and regression analysis, and more.
Known for his excellence in teaching, 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, Professor 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, 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 over 25 years, Professor Carbaugh has taught international economics, as well as managerial economics, money and banking, and both introductory and intermediate levels of microeconomics and macroeconomics.