Hallmark and Updated Features Reveal theory and applications of trade and finance via a unified structure The text''s unified structure presents a balance of theoretical and practical coverage of international finance. Chapters on core theory are followed by a series of application chapters that confront policy questions using the newest empirical work, data, and policy debates. This structure enables students to grasp theoretical concepts and then see those same concepts in action, aiding retention and highlighting the relevance of course material. Highlights include: A unified model of open-economy macroeconomics that provides students with a cohesive approach to the theory, based on an asset-market approach to exchange rate determination with expectations in a central role. A discussion of the international monetary experience that stresses the idea that different exchange rate systems lead to different policy coordination problems. An emphasis on the potential substitutability of international trade and international movements of factors of production, featuring an analysis of international borrowing and lending as intertemporal trade--the exchange of present consumption for future consumption. Give students learning tools to master course material Learning Goals list essential concepts so students understand what they need to take away from each chapter. Case Studies illustrate theory using real-world applications and provide important historical context.
Special Boxes offer vivid illustrations of points made in the text, including the role of currency swap lines among central banks, and the rapid accumulation of foreign exchange reserves by developing countries. 200+ Captioned diagrams reinforce discussions in the text and help students in reviewing the material. Summary and Key Terms. Each chapter closes with a summary recapping the major points to aid student review of the material. Problems, many of which cite real data or policies, allow students to practice what they''re learning. They range from routine computational drills to more analytical questions and problems. All end-of-chapter problems are included in MyLabTM Economics so that instructors can assign homework without needing to grade students'' work by hand. Further Reading sections at the end of each chapter provide annotated bibliographies of both seminal works and recent articles, encouraging students to explore the material further.
Relay recent developments in the theoretical and practical sides of international finance UPDATED! Additional coverage of relevant topics and events including the impact of the North American Free Trade Agreement (NAFTA) on car production in Canada, Mexico, and the United States; why the decision by Nabisco to move production of Oreo cookies to Mexico is a consequence of trade restrictions on refined sugar; the role of negative interest rates in unconventional monetary policy; and the increasingly important role of emerging market economies in driving global growth. NEW! Box describes China''s offshore market and the relationship between its onshore and offshore exchange rates (Chapter 3). NEW! Box on the role of invoice currencies in exchange-rate pass-through and discussion of the role of negative interest rates in unconventional monetary policy (Chapter 6). NEW! Box describes the dangers of deflation (Chapter 8). NEW! Box on Brexit, specifically the process through which Britain is likely to leave the EU (Chapter 10). NEW! Coverage of the key role of commodities in developing-country growth, and the commodity "super cycle" (Chapter 11). Also available with MyLab Economics: MyLabTM Economics is an online homework, tutorial, and assessment program designed to work with this text to engage students and improve results. Within its structured environment, students practice what they learn, test their understanding, and pursue a personalized study plan that helps them better absorb course material and understand difficult concepts.
An online homework and tutorial system puts students in control of their own learning. Within the MyLab Economics structured environment, students practice what they learn, test their understanding, and then pursue a study plan that the MyLab Economics generates for them based on their performance on practice tests. Question Help. Homework and practice questions in MyLab Economics are correlated to the textbook, generate algorithmically to give students unlimited opportunity for practice and mastery, and offer helpful feedback when students enter incorrect answers. Questions include guided solutions and other multimedia assets for extra help at point-of-use. The Enhanced eText keeps students engaged in learning on their own time, while helping them achieve greater conceptual understanding of course material. The worked examples, animations, and interactive tutorials bring learning to life, and algorithmic practice allows students to apply the very concepts they are reading about. Combining resources that illuminate content with accessible self-assessment, MyLab Economics with Enhanced eText provides students with a complete digital learning experience--all in one place.
Animated Graphs in MyLab Economics accompany many of the key graphs and figures in the text, and have been updated with real-time data from FREDTM (Federal Reserve Economic Data)--a comprehensive, up-to-date data set maintained by the Federal Reserve Bank of St. Louis. Students can display a pop-up graph that shows new data plotted in the graph, to better understand how to work with data and understand how including new data affects graphs. More dynamic than graphs on a printed page, these animated ones help students understand shifts in curves, movements along curves, and changes in equilibrium values. Real-Time Data Analysis. These exercises allow instructors to assign problems that use up-to-the-minute data. Each RTDA exercise loads the appropriate and most currently available data from FRED. Exercises are graded based on that instance of data, and feedback is provided.
Interactive Homework Exercises. Participate in a fun, engaging, and easy-to-use activity that helps promote active learning and mastery of important economic concepts. Flexible tools allow instructors to easily and effectively customize online course materials to suit their needs. Instructors can create and assign tests, quizzes, or homework assignments. MyLab Economics saves time by automatically grading questions and tracking results in an online gradebook. After registering for MyLab Economics, instructors can also access downloadable supplements. Interactive Solved Problems. Each of the Solved Problems in the text is accompanied by a similar problem in MyLab Economics, so students can practice and build their problem-solving skills.
These interactive tutorials help students learn to think like economists and apply basic problem-solving skills to homework, quizzes, and exams. The goal is for students to build skills they can use to analyze real-world economic issues they hear and read about in the news. Available for select titles. NEW! Math Review Exercises. MyLab Economics now offers a rich array of assignable and auto-graded exercises covering fundamental math concepts geared specifically to principles and intermediate economics students. Aimed at increasing student confidence and success, the new math skills review Chapter R is accessible from the assignment manager and contains over 150 graphing, algebra, and calculus exercises for homework, quiz, and test use. Offering economics students warm-up math assignments, math remediation, or math exercises as part of any content assignment has never been easier! Current News Exercises. Every week, current microeconomic and macroeconomic news stories, with accompanying exercises, are posted to MyLab Economics.
Assignable and auto-graded, these multi-part exercises ask students to recognize and apply economic concepts to real-world events. Experiments are a fun and engaging way to promote active learning and mastery of important economic concepts. Pearson''s Experiments program is flexible and easy for instructors and students to use. Single-player experiments allow your students to play against virtual players from anywhere at any time so long as they have an Internet connection. Multiplayer experiments allow you to assign and manage a real-time experiment with your class. Pre- and post-questions for each experiment are available for assignment in MyLab Economics. Digital Interactives. Economic principles are not static ideas, and learning them shouldn''t be either! Digital Interactives are dynamic and engaging assessment activities that promote critical thinking and application of key economic principles.
Each Digital Interactive has 3-5 progressive levels and requires approximately 20 minutes to explore, apply, compare, and analyze each topic. Many Digital Interactives include real-time data from FRED allowing professors and students to display, in graph and table form, up-to-the-minute data on key macro variables. Digital Interactives can be assigned and graded within MyLab Economics, or used as a lecture tool to encourage engagement, classroom conversation, and group work. Learning CatalyticsTM helps you generate class discussion, customize your lecture, and promote peer-to-peer learning with real-time analytics. As a student response tool, Learning Catalytics uses students'' smartphones, tablets, or laptops to engage them in more interactive tasks and thinking. NEW! Upload a full PowerPoint® deck for easy creation of slide questions. NEW! Team.