Author Description

"Since the first edition of our text, it has been our goal to present the theories of international economics and bring its models alive through applications that draw on world events. All students want to understand the events they see described on their mobile screens, and our book helps them do just that. We draw on the very latest research - presented at a level appropriate to undergraduate students - to put sold numbers on the models we discuss. Our applications deal not only with the economics behind world events but also with the political economy underlying policy decisions. How do you bring theories and models to life? You pair them with real life stories, so most of our chapters include a story, either told directly or taken from a media report. In each case, the story is meant to draw the student into the theme of the chapter by using a current or historical event. But it's not just these stories that will engage the students: our textbook is unique in that it integrates empirical applications throughout the chapters. Students are asked to think critically about the theory and how it holds up in reality by applying it to historical and current examples. In addition to expanding our coverage to include up-to-date theory and policy applications, our other major goal is to present all the material - both new and old - in the most teachable way. To do this, we ensure that all of the material presented rests on firm and up-to-the-minute empirical evidence. We believe this approach is the right way to study economics, and it is our experience, shared by many instructors, that teaching is more effective and more enlivened when students can see not just an elegant derivation in theory but, right next to it, some persuasive evidence of the economic mechanisms under investigation."--adapted from Preface, page v-vi.