International Economics, 16th. ed.

• Main Author: Thomas A. Pugel.
• Format: Book
• Language: English
• Published: McGraw-Hill Education. 2020
• Subjects: 1. Commercial policy. 2. Foreign exchange.
• Online Access: http://dspace.uniten.edu.my/jspui/handle/123456789/15290
• Institution: Universiti Tenaga Nasional

International economics combines the excitement of world events and the incisiveness of economic analysis. We are now deeply into the second great wave of globalization, in which product, capital, and labor markets are becoming more integrated across countries. This second wave, which began in about 1950 and picked up steam in the 1980s, has now lasted longer than the first, which began in about 1870 and ended with World War I (or perhaps with the onset of the Great Depression in 1930). As indicators of the current process of globalization, we see that international trade, foreign direct investment, cross-border lending, and international portfolio investments have been growing faster than world production. Information, data, and rumors now spread around the world instantly through the Internet and other global electronic media. As the world becomes more integrated, countries become more interdependent. Increasingly, events and policy changes in one country affect many other countries. Also increasingly, companies make decisions about production and product development based on global markets. My goal in writing and revising this book is to provide the best blend of events and analysis, so that the reader builds the abilities to understand global economic developments and to evaluate proposals for changes in economic policies. The book is informed by current events and by the latest in applied international research. My job is to synthesize all of this to facilitate learning. The book Combines rigorous economic analysis with attention to the issues of economic policy that are alive and important today. Is written to be concise and readable. Uses economic terminology when it enhances the analysis but avoids jargon for jargon’s sake. I follow these principles when I teach international economics to undergraduates and master’s degree students. I believe that the book benefits as I bring into it what I learn from the classroom.