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International Economics: Theory And Policy (7th Edition)
"International Economics "captures the vitality of modern international trade and finance. A classic textbook by world-renowned authors, the Seventh Edition is comprehensively revised and updated in a new, full-color format. Each half of the book contains a core of theory chapters followed by chapters applying the theory to major policy questions of the past and present.
A very good guide for an undergraduate course
By Ernesto Sep?lveda-Villarreal
- March 21, 2007
I used several times the fifth edition of Krugman and Obstfeld's book to teach International Finance to undergraduates in economics, and I found it comprehensive, understandable and very didactic. True, the book does not follow a rigorous mathematical approach, even less a dynamic one, but I think that is not the authors' intention. On the contrary, they use simple equations, basic graphical analysis, empirical data illustrations and some economic history to show the main issues they want to. And I must say that they clearly succeed in explaining virtually every topic an undergraduate student should know about international economics.
There are several essential topics that should be part of the backbone of a course in international finance, and they are included in this book:
- the asset approach to exchange rates;
- the crucial role of expectations;
- the relationship between money, interest rates and the exchange rates in the short run;
- the... read more
A not-so-bad survey of international economics
By Coleman Nee "economist dad"
- November 28, 2006
Regarding Gerald Senarclens de Grancy's comments: The idea of Krugman as a Bush administration cheerleader is pretty funny. At first I thought this was a joke but then I realised it wasn't. Granted, the book doesn't mention the Tobin Tax, but there's only so much you can pack into a superficial survey text like this. Overall, I think the authors are pretty unbiased and mainstream. (Haven't used the web supplements, so can't comment on that).
Having seen this book evolve over several editions, I can honestly say that the current one represents a distinct improvement, with the new introductory chapter on the gravity model providing some much needed perspective at the start. However, it's not an ideal book to learn trade theory and open econonmy macro from. My favorite (although slightly more rigorous) is "The International Economy" by Kenen. And if you are only interested in trade theory, "International Trade, Theory and Evidence" by Markusen et. al. is superior.
One word describes the book
By Asad Merchant
- March 10, 2007
Verbose! The authors spend pages upon pages wasting trees trying to explain a concept that could be explained using one paragraph. The authors go in circles in my opinion, sometimes i feel that they forget what they had initially started. And the shyness to use math and write out what could be written as a single equation makes the book about 600 pages when it should only be 200.
Study Guide to accompany Economics: Theory and Practice, 7th Edition
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International Economics: Theory and Policy
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