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. Carbaugh demonstrates the relevance of theory through real-world economic issues. Theoretical discussions are presented in both verbal and graphical terms, making the book highly accessible to students with little economics background. Its concise and flexible format makes it an ideal fit for most one-term courses.
Organized Around Five Themes: This edition has been revised with an eye toward improving the presentation. The author highlights five themes that are widely discussed by the news media: (1) globalization of economic activity; (2) free trade and "quality of life" issues; (3) trade conflicts between developing nations and industrial nations; (4) liberalizing trade- the WTO versus regional trading arrangements; and (5) the dollar as a key currency. These themes allow for greater clarity and organization which demonstrates the usefulness of theory to students.
Current Examples: Chapter 4, "Trade Model Extensions and Applications," includes a new discussion about the terrorist attacks using the example of the United States freight system to show that the results where added costs and slowdown of production.
New Applications: Chapter 6, "Nontariff Trade Barriers", uses a new application of smuggled steel to drive the discussion of United States tariffs and a significantly revised discussion on antidumping laws to reflect currency fluctuations. Chapter 15, "Exchange-Rate Adjustments and the Balance of Payments", offers a new application on the effects of an appreciating dollar and it's effects on United States Manufacturers.
Chapter Update: Chapter 7, "Trade Regulations and Industrial Policies", brings in a new discussion of Bush's stealy pragmatism.
New Chapter Material: Chapter 9, "Regional Trading Arrangements", holds new material on the trucking industries reaction to the NAFTA trade agreement and revised discussion on the facts about the euro.
Organized Around Five Themes: This edition has been revised with an eye toward improving the presentation. The author highlights five themes that are widely discussed by the news media: (1) globalization of economic activity; (2) free trade and "quality of life" issues; (3) trade conflicts between developing nations and industrial nations; (4) liberalizing trade- the WTO versus regional trading arrangements; and (5) the dollar as a key currency. These themes allow for greater clarity and organization which demonstrates the usefulness of theory to students.
Current Examples: Chapter 4, "Trade Model Extensions and Applications," includes a new discussion about the terrorist attacks using the example of the United States freight system to show that the results where added costs and slowdown of production.
New Applications: Chapter 6, "Nontariff Trade Barriers", uses a new application of smuggled steel to drive the discussion of United States tariffs and a significantly revised discussion on antidumping laws to reflect currency fluctuations. Chapter 15, "Exchange-Rate Adjustments and the Balance of Payments", offers a new application on the effects of an appreciating dollar and it's effects on United States Manufacturers.
Chapter Update: Chapter 7, "Trade Regulations and Industrial Policies", brings in a new discussion of Bush's stealy pragmatism.
New Chapter Material: Chapter 9, "Regional Trading Arrangements", holds new material on the trucking industries reaction to the NAFTA trade agreement and revised discussion on the facts about the euro.