International Trade and Global Macropolicy

by Farrokh Langdana, Peter T. Murphy

In the curricula of highly ranked MBA programs, two areas of discussion are conspicuously International Trade, and Global Macroeconomic Policy. In this post-financial crisis environment, as the US and other advanced economies continue to experience sluggish growth, persistently high unemployment, and political agitation for increasingly protectionist policies, discussions pertaining to trade, currencies, and international capital flows are often fraught with emotion, tension, and hysteria. This book cuts through the emotions and superficial “solutions” and provides the reader with a thorough understanding of the hard-hitting theoretical models that drive the global flow of goods, services, and capital in the real world.  A key feature of this volume is the presentation of the theoretical models, and the discussion of their implications in the context of real-world applications. This text is uniquely designed for current and future business leaders who are, or will be, engaged in the global economy. Armed with an understanding of the theoretical underpinnings driving goods, capital and ideas across national boundaries, readers will learn to anticipate the effects of trade and macroeconomic policy changes, and will have the tools to make sound, informed decisions for themselves and their global organizations.

423 pages, Hardcover

First published November 30, 2012

Reviews

[Tim Duggan · Rating 5 out of 5]

Note: I read the 2nd edition which updates happenings to end of 2016 I think, so it's spot on.

This is a great book for those who need to understand the topics of macro economic policy and monetary and fiscal policy. Also those who need an understanding of the global economy and what the central banks are tying to constantly achieve and avoid.
As a trader, it is imperative that I understand these topics quite well and can make an attempt to get inside what the drivers are in a central bank. The author tried to simplify the topics quite well and there are plenty of very useful points where he uses articles to illustrate the concepts and language used around macro economics in day to day business.
Make no mistake, this is not an easy subject and not accessible to many, but it is worth sticking it out if you are willing to learn. Probably a mild bit simple for economics grads. I feel that I got all the relevant parts of macro economics from it and was spared theoretical macro conjecture.
Worth the read and I'm sure I will reference it time and time again.
I'm grateful it's over though.... phew