International Economics

Description: For one semester courses in International Economics. *Addressing the changing face of economics education, Sawyer and Sprinkle is written at a level that is appropriate for a broader range of students (economics majors, business majors, international relations and other nonbusiness students) than most existing texts. Written for students who need only to be familiar with supply/demand analysis and aggregate demand/aggregate supply analysis, the main purpose of this book is to teach international economics using the tools that the students have been exposed to in their principles course. This approach reinforces the tools students have learned and relieves instructors of trying to teach international economics while also teaching a set of tools with which students are unfamiliar. *This text covers the most important recent developments in international economics. Entire chapters are devoted to intraindustry trade (chapter 4), international factor movements (chapter 5), and regional economic issues (chapter 9). Sawyer and Sprinkle also provide a more current treatment of monetary theory/policy.Distinct from other books in the market, this text adopts the modern asset market approach to exchange rate determination. Sawyer and Sprinkle's approach is a departure from the historical approach and shows how the floating exchange rate is a result of current international monetary arrangements. Contents: 1. Introduction: An Overview of the World Economy. 2. Why Countries Trade. 3. Factor Endowments and The Commodity Composition of Trade. 4. Intraindustry Trade. 5. International Factor Movements. 6. Tariffs. 7. Nontariff Distortions to Trade. 8. International Trade Policy. 9. Regional Economic Issues. 10. National Income Accounting and the Balance of Payments. 11. International Transactions and Financial Markets. 12. Exchange Rates and Their Determination: A Basic Model. 13. Money, Interest Rates, and The Exchange Rate. 14. Price Levels and Exchange Rates in The Long Run. 15. Output and The Exchange Rate in The Short Run. 16. Macroeconomic Policy and Floating Exchange Rates. 17. Fixed Exchange Rates and Currency Unions. 18. International Monetary Arrangements. Author Biography: W. Charles Sawyer is a Professor of Economics and International Business at the University of Southern Mississippi. He earned both a B.A. and M.A. from St. Mary's University and a Ph.D. from the University of Arkansas. He has also taught at the University of Arkansas, Louisiana State University, and the Helsinki School of Economics and Business. In addition to his academic teaching he has taught in a number of executive development programs for both the public and private sectors. He has served as a consultant for the United Nations Industrial Development Organization and the United Nations Conference on Trade and Development. Professor Sawyer's primary research interests have been in the areas of international economics and economic development. He has authored or co-authored a number of research articles that have appeared in journals such as the Review of Economics and Statistics, the Journal of Regional Science, Economic Development and Cultural Change, and Weltwirtschaftliches Archiv. His current research focuses on the effects of international trade on U.S. states and regions. He is a member of the American Economic Association and the International Economics and Finance Society. Richard L. Sprinkle is a Professor of Economics at the University of Texas at El Paso. Professor Sprinkle holds a Ph.D. in Economics from the University of Arkansas with specializations in international economics, international finance, and applied econometrics. He currently teaches macroeconomics, econometrics, and international economics. Over the past 25 years he has been affiliated with the College of the Ozarks, Louisiana State University, the Helsinki School of Economics and Business, and the University of Texas at El Paso. Professor Sprinkle's research has focused on U.S. international trade relations, and the effects of trade agreements on trade and employment. He has published numerous journal articles, books, chapters in books and technical documents, and he has received professional awards for both his research and teaching at the undergraduate and graduate levels. Professor Sprinkle is the former Director of the Center for the Study of Western Hemispheric Trade at UTEP and currently holds the Western Hemispheric Trade Research Professorship.