International Economics 14th edition
Authors: Robert Carbaugh
Publisher: CENGAGE Learning
Details of the book:
Economics is one subject whose relevance is not only bound to the students of its own stream, but rather it flows into other subjects and areas of life which are not even remotely associated to the subject (at least at a superficial glance). However, most books on the subject are authored in such a way that individuals belonging to other fields of education i.e. laymen, find it rather difficult to understand them. International Economics by Robert Carbaugh is an exception to this rule. The book offers a happy union between theory and practice, keeping in mind the needs of contemporary time, but in an extremely accessible manner. The text provided inside is backed by many real world applications and graphs, which makes it even easier to relate to and understand. Carbaugh keeps it simple without trivializing the matter, his book provides a wealth of knowledge on international economics, enriched with examples and application, but makes little demand on the part of the readers in the form of previous knowledge. Thus, whether you are an econ major or simply interested in the subject, this book will suffice your needs sufficiently in any case. Currently running in its 14th edition, this particular book is an academic favourite and leader in the market, setting and raising standard in its field.
Some of the most important issues tackled in this text are:
- International trade relations, economy and the effects of globalization.
- Modern trade theory
- Comparative advantage and its sources
- Policies and regulations of trade in developed and developing nation markets
- Macroeconomic policies characterizing the open economies of the world
- Tariff and non tariff barriers in trading
- Balance of payment issues, foreign exchange rate determination and other issues on this subject.
- Other monetary relations of the international world including exchange rate and its adjustments, currency crisis and exchange rate systems of the international market etc.
- A different segment in international banking covers all relevant topics of this area including those of debt, risk and reserve.
All in all, this book is an excellent source for information on international economic issues, suitable for readers with all kinds of background. It is exceedingly modern in its approach, but provides enough insights on the time tested theories and concepts of the field. Thus, a willing reader will find both theoretical and practical knowledge from this book, expressed in words and graphs, and illustrated or backed by concept testing examples and applications. In short, this is a simple but effective book on the subject of international economics.
About the author: Robert Carbaugh is a well respected and renowned teacher of economics, he is a Professor of the same at Central Washington University. Among the several honours he has been bestowed with are included the 1984 Excellence in Teaching award at the University of Wisconsin, Eau Claire, and also the very prestigious 'the Distinguished Professor of the University'-Teaching award at Central Washington University in 1993.