Summary: The hallmark approach of this very successful market-leading text is its clear and concise treatment of international trade and finance theory illustrated with a wealth of the most up-to-date contemporary issues and cases that demonstrate the relevance of theory to real-world economic problems. Theoretical discussions are presented in both verbal and graphical terms, making the book highly accessible to students with little economics background. Its concise and flexi ...show moreble format make it an ideal fit for most one-term courses.
* NEW! The Latest Developments: Consistent with the text's reputation for delivering coverage of the most up-to-date issues in the constantly changing global economy, this edition has been updated to reflect key recent topics such as: Has Globalization Gone Too Far?--Ch. 1; Does the U.S. Benefit from the WTO?--Ch. 8; China and Permanent Normal Trade Relations--Ch. 8; Europe Can't Handle the Euro--Ch. 9; Can the U.S. Continue to Run Current Account Deficits Year After Year?--Ch. 11; Does Foreign Currency Hedging Pay Off?--Ch. 12; Stabilizing Exchange Rates: Currency Boards Versus Dollarization--Ch. 16.
* NEW! More Logical Flow: To facilitate the flow of the text, three theoretical sections have been moved to appendices: ''Offer Curves and the Equilibrium Terms of Trade'' is now an appendix to Chapter 3; ''Specific Factors: Trade and the Distribution of Income in the Short Run'' is now an appendix to Chapter 4; and ''The Asset Markets Approach to Exchange-Rate Determination'' is now an appendix to Chapter 13.
* Clarity of Presentation: A serious presentation of international economic theory is made accessible through an extremely clear writing style.
* Practical Focus: Theory is supported by integration of a wealth of real-world applications throughout, providing motivation and relevance for students by showing students how it is used in practice. Boxed features, Case Studies, and numerous examples throughout the textual material are used to provide this practical focus.
* Internet Applications:''Netlink'' end-of-chapter Internet features direct students to the very latest, real-world, up-to-the-minute information and data related to international economics. ''Netlink Exercises'' at the Carbaugh Website draw upon these in-text features, and have students apply the information they have found to answer pertinent and practical questions, allowing them to practice their economic analysis skills. Additionally, ''Virtual Scavenger Hunt'' activities found at the Carbaugh site engages and encourages students to search for international economic answers at various Internet sites.
* Flexible Organization: A concise format makes the text easy to cover in 1-semester or even 1-quarter, and allows the instructor flexibility to bring in additional readings/up-to-the-minute issues as s/he deems appropriate. Also offers flexibility in covering international trade topics or international finance topics in whichever order is preferred.
* Telecourse Applicable: This is the recommended text for the telecourse ''Inside the Global Economy'', provided by the Annenberg/CPB Project. A Case Study Reader/Review Guide for students as well as special information contained within the Faculty Manual are available to tie the telecourse and text together.