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国际经济学第九版英文课后答案

国际经济学第九版英文课后答案
国际经济学第九版英文课后答案

CHAPTER 1

*(Core Chapter)

INTRODUCTION

OUTLINE

1.1 Importance of International Economics

Case Study 1-1: The Dell and Other PCs Sold in the United States Are All But

American

Case Study 1-2: What Is an "American" Car?

1.2 International Trade and The Nation's Standard of Living

Case Study 1-3: Rising Importance of International Trade to the United States 1.3 The Major U.S. Trade Partners: The Gravity Model

1.4 The Subject Matter of International Economics

1.5 Purpose of International Economic Theories and Policies

1.6 Current International Economic Challenges

1.7 The Globalization Challenge

1.8 Organization and Methodology of the Book

Appendix: A1.1 Basic International Trade Data

A1.2 Sources of Additional International Data and Information

Key Terms

Interdependence Adjustment in the balance of payments Gravity model Microeconomics

International trade theory Macroeconomics

International trade policy Open economy macroeconomics

New protectionism International finance

Foreign exchange markets Globalization

Balance of payments Anti-globalization movement

Lecture Guide

1. As the first chapter of the book, the general aim here is simply to define the field

of study of international economics and its importance in today's interdependent world.

The material in this chapter can be covered in two classes. I would utilize one

class to cover Sections 1 to 4 and the second class to cover Sections 5 to 8. I

would spend most of the second class on Section 6 on the major current

international economic challenges facing the United States and the world today

and to show how international economics can suggest ways to solve them. This

should greatly enhance students' motivation.

Answer to Problems

1. a) International economic problems reported in our daily newspapers are likely to

include:

?trade controversies between the United States, Europe, Japan, and China;

?great volatility of exchange rates;

?Increasing international competition from China and fear of job losses in the United States and other advanced countries.

?structural unemployment and slow growth in Europe, and stagnation in Japan;

?financial crises in emerging market economies;

?restructuring problems of transition economies;

?deep poverty in many developing nations in the world.

b) Can result in trade restrictions or even a trade war, which reduce the volume

and the gains from trade;

?discourage foreign trade and investments, and thus reduce the benefits from trade;

?Can result in trade restrictions or even a trade war, which reduce the volume and the gains from trade;

?reduces European and Japanese imports and the volume and the benefits from trade;

?financial crises in emerging market economies could spread to the United States;

?can lead to political instability, which will adversely affect the United States;

?can lead to political instability in these countries - which also adversely affect the United States.

c) Can result in your paying higher prices for imported products;

?lead to great fluctuations in the price of imported products and cost of foreign travel;

?Can lead higher prices for imported products and increases the chances that you will have to change jobs;

?can lead you to support demands for trade protection in the United States;

?can reduce the value of your investments (such as a stocks) in the United States;

?can lead to your paying higher taxes for the United States to respond to these threats;

can result in your paying higher taxes to help these nations.

2. a) Five industrial nations not mentioned are: Italy, France, Canada, Austria, and

Ireland.

b) See Table 1A.

c) Smaller nations, such as Ireland and Austria, are more interdependent than the

larger ones. Note that interdependence was measured by the percentage of the

value of imports and exports (line 98c and 90c, respectively in IFS) to GDP (line

99b).

Table 1A

Economic Interdependence as

Measured by Imports and Exports

*Source: International Financial Statistics

(Washington, D.C., IMF, March 2006).

3. a) Five developing nations not mentioned in the text are: Brazil, Pakistan,

Colombia, Nepal, and Tunisia.

b) See Table 1B.

c) In general, the smaller the nation, the greater is its economic interdependence.

Note that interdependence was measured by the percentage of the value of

imports and exports (line 98c and 90c, respectively in IFS) to GDP (line 99b).

Table 1B

Economic Interdependence as

Measured by Imports and Exports

*Source: International Financial Statistics

(Washington, D.C., IMF, March 2006).

4. Trade between the United States and Brazil is much larger than trade between the

United States and Argentina. Since Brazil is larger and closer than Argentina, this trade does follow the predictions of the gravity model.

5. a) Mankiw’s Economics (4th., 2007) includes the following microeconomics

topics:

?The market forces of demand and supply;

?elasticity and its application;

?the theory of consumer choice;

?consumers, producers, and the efficiency of markets;

?the costs of production;

?firms in competitive markets;

?monopoly;

?oligopoly;

?monopolistic competition;

?markets for the factors of production;

?the demand for resources;

b) Just as the microeconomics parts of your principles text deal with individual

consumers and firms, and with the price of individual commodities and factors of production, so do Parts One and Two of this text deal with production and

consumption of individual nations with nations with and without trade, and with

the relative price of individual commodities and factors of production.

c) Mankiw’s Economi cs (4th., 2007) includes the following microeconomics topics:

measuring a nation’s income and the cost of living;

?production and growth;

?savings investment and the financial system;

?unemployment and its natural rate;

?the monetary system, growth and inflation;

?money growth and inflation;

?open-economy macroeconomics: basic concepts;

? a macroeconomic theory of the open economy;

?aggregate demand and aggregate supply;

?the influence of monetary and fiscal policy on aggregate demand;

?the short-run trade off between inflation and unemployment

?five debates over macroeconomic policy.

d) Just as the macroeconomics parts of your principles text deal with the aggregate

level of savings, consumption, investment, and national income, the general price level, and monetary and fiscal policies, so do Parts Three and Four of this text

deal with the aggregate amount of imports, exports, the total international flow of resources, and the policies to affect these broad aggregates.

6. a) Consumer demand theory predicts than when the price of a commodity rises

(cet. par.), the quantity demanded of the commodity declines.

When the price of imports rises to domestic consumers, the quantity demanded of exports can be expected to decline (if everything else remains constant).

7. a) A government can reduce a budget deficit by reducing government

expenditures and/or increasing taxes.

b) A nation can reduce or eliminate a balance of payments deficit by taxing

imports and/or subsidizing exports, by borrowing more abroad or lending less to

other nations, as well as by reducing the level of its national income.

8. a) Nations usually impose restrictions on the free international flow of goods,

services, and factors. Differences in language, customs, and laws also hamper

these international flows. In addition, international flows may involve receipts and payments in different currencies, which may change in value in relation to one

another through time. This is to be contrasted with the interregional flow of

goods, services, and factors, which face no such restrictions as tariffs and are

conducted in terms of the same currency, usually in the same language, and under basically the same set of customs and laws.

b) Both international and interregional economic relations involve the overcoming

of space or distance. Indeed, they both arise from the problems created by

distance. This distinguishes them from the rest of economics, which abstracts

from space and treats the economy as a single point in space, in which production, exchange, and consumption take place.

9. We can deduce that nations benefit from voluntarily engaging in international

trade because if they did not gain or if they lost they could avoid those losses by

simply refusing to trade. Disagreement usually arises regarding the relative

distribution of the gains from specialization in production and trade, but this does not mean that each nation does not gain from trade.

10. International trade results in lower prices for consumers but harms domestic

producers of products, which compete with imports. Often those domestic

producers that stand to lose a great deal from imports band together to pressure

the government to restrict imports. Since consumers are many and unorganized

and each individually stands to lose only very little from the import restrictions,

governments often give in to the demands of producers and impose some import

restrictions. These topics are discussed in detail in Chapter 9.

11. A nation can subsidize exports of the commodity to other nations until it drives

the competing nation's industry out of business, after which it can raise its price

and benefit from its newly acquired monopoly power.

Some economists and politicians in the United States have accused Japan of doing just that (i.e., of engaging in strategic trade and industrial policy at the expense of U.S. industries), but this is a very complex and controversial aspect of trade

policy and will be examined in detail in Chapter 9.

12. a) When the value of the U.S. dollar falls in relation to the currencies of other

nations, imports become more expensive for Americans and so they would

purchase a smaller quantity of imports.

b) When the value of the U.S. dollar falls in relation to the currencies of other

nations, U.S. exports become chapter for foreigners and so they would purchase a greater quantity of U.S. exports.

Multiple-Choice Questions

1. Which of the following products are not produced at all in the United States?

*a. Coffee, tea, cocoa

b. steel, copper, aluminum

c. petroleum, coal, natural gas

d. typewriters, computers, airplanes

2. International trade is most important to the standard of living of:

a. the United States

*b. Switzerland

c. Germany

d. England

3. Over time, the economic interdependence of nations has:

*a. grown

b. diminished

c. remained unchanged

d. cannot say

4. A rough measure of the degree of economic interdependence of a nation is given by:

a. the size of the nations' population

b. the percentage of its population to its GDP

*c. the percentage of a nation's imports and exports to its GDP

d. all of the above

5. Economic interdependence is greater for:

*a. small nations

b. large nations

c. developed nations

d. developing nations

6. The gravity model of international trade predicts that trade between two nations is larger

a. the larger the two nations

b. the closer the nations

c. the more open are the two nations

*d. all of the above

7. International economics deals with:

a. the flow of goods, services, and payments among nations

b. policies directed at regulating the flow of goods, services, and payments

c. the effects of policies on the welfare of the nation

*d. all of the above

8. International trade theory refers to:

*a. the microeconomic aspects of international trade

b. the macroeconomic aspects of international trade

c. open economy macroeconomics or international finance

d. all of the above

9. Which of the following is not the subject matter of international finance?

a. foreign exchange markets

b. the balance of payments

*c. the basis and the gains from trade

d. policies to adjust balance of payments disequilibria

10. Economic theory:

a. seeks to explain economic events

b. seeks to predict economic events

c. abstracts from the many detail that surrounds an economic event

*d. all of the above

11. Which of the following is not an assumption generally made in the study of international economics?

a. two nations

b. two commodities

*c. perfect international mobility of factors

d. two factors of production

12. In the study of international economics:

a. international trade policies are examined before the bases for trade

b. adjustment policies are discussed before the balance of payments

c. the case of many nations is discussed before the two-nations case

*d. none of the above

13. International trade is similar to interregional trade in that both must overcome: *a. distance and space

b. trade restrictions

c. differences in currencies

d. differences in monetary systems

14. The opening or expansion of international trade usually affects all members of society:

a. positively

b. negatively

*c. most positively but some negatively

d. most negatively but some positively

15. An increase in the dollar price of a foreign currency usually:

a. benefit U.S. importers

*b. benefits U.S. exporters

c. benefit both U.S. importers and U.S. exporters

d. harms both U.S. importers and U.S. exporters

16. Which of the following statements with regard to international economics is true?

a. It is a relatively new field

*b. it is a relatively old field

c. most of its contributors were not economists

d. none of the above

克鲁格曼国际经济学第八版上册课后答案Word版

Chapter 3 Labor Productivity and Comparative Advantage: The Ricardian Model Chapter Organization The Concept of Comparative Advantage A One-Factor Economy Production Possibilities Relative Prices and Supply Trade in a One-Factor World Box: Comparative Advantage in Practice: The Case of Babe Ruth Determining the Relative Price after Trade The Gains from Trade A Numerical Example Box: The Losses from Non-Trade Relative Wages Misconceptions about Comparative Advantage Productivity and Competitiveness The Pauper Labor Argument Exploitation Box: Do Wages Reflect Productivity? Comparative Advantage with Many Goods Setting Up the Model Relative Wages and Specialization Determining the Relative Wage with a Multigood Model Adding Transport Costs and Non-Traded Goods Empirical Evidence on the Ricardian Model Summary

国际经济学课后答案解析

第一章绪论 1、列举出体现当前国际经济学问题的一些重要事件,他们为什么重要?他们都是怎么影响中国与欧、美、日的经济和政治关系的?当前的国际金融危机最能体现国际经济学问题,其深刻地影响了世界各国的金融、实体经济、政治等领域,也影响了各国之间的关系因此显得尤为重要;其对中国与欧、美、日的政治和经济关系的影响为:减少中国对上述国家的出口,影响中国外汇储备,贸易摩擦加剧,经济联系加强,因而也会导致中国与上述国家在政治上的对话与合作。 2、我们如何评价一国与他国之间的相互依赖程度?我们可以通过一国的对外贸易依存度来评价该国与他国之间的相互依赖程度,也可以通过其他方式来评价比如一国政府政策的溢出效应和回震效应以及对外贸易对国民生活水平的影响。 3、国际贸易理论及国际贸易政策研究的内容是什么?为什么说他们是国际经济学的微观方面?国际贸易理论分析贸易的基础和所得,国际贸易政策考察贸易限制和新保护主义的原因和效果。国际贸易理论和政策是国际经济学的微观方面,因为他们把国家看作基本单位,并研究单个商品的(相对)价格。 4、什么是外汇交易市场及国际收支平衡表?调节国际收支平衡意味着什么?为什么说他们是国际经济学的宏观方面?什么是宏观开放经济学及国际金融?外汇交易市场描述一国货币与他国货币交换的框架,国际收支平衡表测度了一国与外部世界交易的总收入与总支出的情况。调节国际收支平衡意味着调节一国与外部世界交易出现的不均衡(赤字或盈余);由于国际收支平衡表涉及总收入和总支出,调节政策影响国家收入水平和价格总指数,因而他们是国际经济学的宏观方面;外汇交易及国际收支平衡调节涉及总收入和总支出,调整政策影响国家收入水平和价格总指数,这些内容被称为宏观开放经济学或国际金融。 5、浏览报刊并做下列题目:(1)找出5条有关国际经济学的新闻(2)每条新闻对中国经济的重要性或影响(3)每条新闻对你个人有何影响 A (1) 国际金融危机: 影响中国整体经济,降低出口、增加失业、经济减速等 (2) 美国大选:影响中美未来经济政治关系 (3) 石油价格持续下跌:影响中国的能源价格及相关产业 (4) 可口可乐收购汇源被商务部否决:《反垄断法》的第一次实施,加强经济法治 (5) 各国政府经济刺激方案:对中国经济产生外部性效应B 以上5条新闻对个人影响为:影响个人消费水平和就业前景 第二章比较优势理论 1、重商主义者的贸易观点如何?他们的国家财富概念与现在有何不同?重商主义者主张政府应当竭尽所能孤立出口,不主张甚至限制商品(尤其是奢侈类消费品)。重商主义者认为国家富强的方法是尽量使出口大于进口,而出超的结果是金银等贵重金属流入,而一个国家拥有越多的金银,就越富有越强大。现在认为一个国家生产力即生产商品的能力越高则一国越富强 2、亚当.斯密主张的贸易基础和贸易模式分别是什么?贸易所得是如何产生的?斯密倡导什么样的国际贸易基础?他认为政府在经济生活中的适当功能是什么?亚当.斯密主张的贸易基础是绝对优势;贸易模式为两国通过专门生产自己有绝对优势的产品并用其中一部分来交换器有绝对劣势的商品。通过生产绝对优势商品并交换,资源可以被最有效的使用,而且两种商品的产出会有很大的增长,通过交换就会消费比以前更多的商品从而产生了贸易所得;斯密倡导自由贸易,主张自由放任也就是政府尽可能少干涉经济

李坤望《国际经济学》课后习题答案

第一章 1.为什么说在决定生产和消费时,相对价格比绝对价格更重要? 答案提示:当生产处于生产边界线上,资源则得到了充分利用,这时,要想增加某一产品的生产,必须降低另一产品的生产,也就是说,增加某一产品的生产是有机会机本(或社会成本)的。生产可能性边界上任何一点都表示生产效率和充分就业得以实现,但究竟选择哪一点,则还要看两个商品的相对价格,即它们在市场上的交换比率。相对价格等于机会成本时,生产点在生产可能性边界上的位置也就确定了。所以,在决定生产和消费时,相对价格比绝对价格更重要 2.仿效图1—6和图1—7,试推导出Y商品的国民供给曲线和国民需求曲线。 答:参见教材第一章第二节内容,将图1-6a中,以横坐标表示y商品的供给,以纵坐标表示x商品供给,得出相应生产可能性边界线,然后将图1-6b中,以横坐标表示y商品供给,以纵坐标表示y的相对价格,通过类似推导可得出国民供给曲线,国民需求曲线作类似推导可得。 3.在只有两种商品的情况下,当一个商品达到均衡时,另外一个商品是否也同时达到均衡? 答:两种商品同时达到均衡。一种商品均衡时,由其相对价格,机会成本,需求可知另一种商品得相对价格,机会成本和需求。 4.如果生产可能性边界是一条直线,试确定过剩供给(或需求)曲线。 答案提示:略,参见书上 5.如果改用Y商品的过剩供给曲线(B国)和过剩需求曲线(A国)来确定国际均衡价格,那么所得出的结果与图1—13中的结果是否一致? 答案提示:国际均衡价格将依旧处于贸易前两国相对价格的中间某点。 6.说明贸易条件变化如何影响国际贸易利益在两国间的分配。 答案提示:一国出口产品价格的相对上升意味着此国可以用较少的出口换得较多的进口产品,有利于此国贸易利益的获得,不过,出口价格上升将不利于出口数量的增加,有损于出口国的贸易利益;与此类似,出口商品价格的下降有利于出口商品数量的增加,但是这意味着此国用较多的出口换得较少的进口产品。对于进口国来讲,贸易条件变化对国际贸易利益的影响是相反的。 7.如果国际贸易发生在一个大国和一个小国之间,那么贸易后,国际相对价格更接近于哪一个国家在封闭下的相对价格水平?

克鲁格曼《国际经济学》第八版课后答案(英文)-Ch06

Chapter 6 Economies of Scale, Imperfect Competition, and International Trade Chapter Organization Economies of Scale and International Trade: An Overview Economies of Scale and Market Structure The Theory of Imperfect Competition Monopoly: A Brief Review Monopolistic Competition Limitations of the Monopolistic Competition Model Monopolistic Competition and Trade The Effects of Increased Market Size Gains from an Integrated Market: A Numerical Example Economies of Scale and Comparative Advantage The Significance of Intraindustry Trade Why Intraindustry Trade Matters Case Study: Intraindustry Trade in Action: The North American Auto Pact Dumping The Economics of Dumping Case Study: Anti-Dumping as Protection Reciprocal Dumping The Theory of External Economies Specialized Suppliers Labor Market Pooling Knowledge Spillovers External Economies and Increasing Returns

国际经济学课后习题答案

For personal use only in study and research; not for commercial use 第一章 1.为什么说在决定生产与消费时,相对价格比绝对价格更重要? 答案提示:当生产处于生产边界线上,资源则得到了充分利用,这时,要想增加某一产品的生产,必须降低另一产品的生产,也就就是说,增加某一产品的生产就是有机会机本(或社会成本)的。生产可能性边界上任何一点都表示生产效率与充分就业得以实现,但究竟选择哪一点,则还要瞧两个商品的相对价格,即它们在市场上的交换比率。相对价格等于机会成本时,生产点在生产可能性边界上的位置也就确定了。所以,在决定生产与消费时,相对价格比绝对价格更重要 2.仿效图1—6与图1—7,试推导出Y商品的国民供给曲线与国民需求曲线。 答:参见教材第一章第二节内容,将图1-6a中,以横坐标表示y商品的供给,以纵坐标表示x商品供给,得出相应生产可能性边界线,然后将图1-6b中,以横坐标表示y商品供给,以纵坐标表示y的相对价格,通过类似推导可得出国民供给曲线,国民需求曲线作类似推导可得。 3.在只有两种商品的情况下,当一个商品达到均衡时,另外一个商品就是否也同时达到均衡? 答:两种商品同时达到均衡。一种商品均衡时,由其相对价格,机会成本,需求可知另一种商品得相对价格,机会成本与需求。 4.如果生产可能性边界就是一条直线,试确定过剩供给(或需求)曲线。 答案提示:略,参见书上 5.如果改用Y商品的过剩供给曲线(B国)与过剩需求曲线(A国)来确定国际均衡价格,那么所得出的结果与图1—13中的结果就是否一致? 答案提示:国际均衡价格将依旧处于贸易前两国相对价格的中间某点。 6.说明贸易条件变化如何影响国际贸易利益在两国间的分配。 答案提示:一国出口产品价格的相对上升意味着此国可以用较少的出口换得较多的进口产品,有利于此国贸易利益的获得,不过,出口价格上升将不利于出口数量的增加,有损于出口国的贸易利益;与此类似,出口商品价格的下降有利于出口商品数量的增加,但就是这意味着此国用较多的出口换得较少的进口产品。对于进

[VIP专享]国际经济学(第四版)

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Chapter 8 The Instruments of Trade Policy Chapter Organization Basic Tariff Analysis Supply, Demand, and Trade in a Single Industry Effects of a Tariff Measuring the Amount of Protection Costs and Benefits of a Tariff Consumer and Producer Surplus Measuring the Costs and Benefits Other Instruments of Trade Policy Export Subsidies: Theory Case Study: Europe’s Common Agricultural Policy Import Quotas: Theory Case Study: An Import Quota in Practice: U.S. Sugar Voluntary Export Restraints Case Study: A Voluntary Export Restraint in Practice: Japanese Autos Local Content Requirements Box: American Buses, Made in Hungary Other Trade Policy Instruments The Effects of Trade Policy: A Summary Summary Appendix I: Tariff Analysis in General Equilibrium A Tariff in a Small Country A Tariff in a Large Country Appendix II: Tariffs and Import Quotas in the Presence of Monopoly The Model with Free Trade The Model with a Tariff The Model with an Import Quota Comparing a Tariff with a Quota

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克鲁格曼国际经济学课 后答案英语版 Company Document number:WUUT-WUUY-WBBGB-BWYTT-1982GT

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李坤望国际经济学第四版课后习题答案(自整理)教学教材

李坤望国际经济学第四版课后习题答案(自 整理)

第一章 1.封闭条件下,中国和美国的小麦与布的交换比率分别为1:4和2:5,那么在两国之间展开贸易后,小麦与布之间的交换比率可能为. A.1:6 B.2:6 C.3:6 D.4:6 2.在机会成本递增条件下,只要各国在生产同样产品时存在着价格差异,那么比较利益理论就仍然有效。这种说法是否正确? A.正确 B.不正确 3.作为新贸易理论的核心基础之一,规模经济意味着随着产量增加,() A.平均成本与边际成本都下降 B. 平均成本变化不确定,边际成本下降 C. 平均成本下降 D.平均成本与边际成本都上升 4.以下说法中,()是错误的。 A.绝对优势理论是以机会成本不变为前提的,而相对优势理论则是以机会成本递增为前提的 B.相对优势理论可以部分地解释经济技术发展水平和层次不同的国家之间进行贸易的基础 C.生产要素禀赋理论用生产要素禀赋的差异解释国际贸易产生的动因 D.无论是生产技术差异还是生产要素禀赋差异导致国际贸易产生,都是以两国之间同一产品的价格存在差异为前提

第二章 1.下列() 属于李嘉图模型的假定前提条件。 A.生产过程中使用资本和劳动力两种要素 B.没有运输成本和其他交易成本 C.生产要素可以在两国间自由流动 D.生产要素非充分利用因此机会成本不变 2.下列()不属于重商主义的观点。 A.货币是财富的唯一表现形式 B.通过国际贸易可以提高所有贸易参与国的福利水平 C.出口意味着贵金属的流入 D.进口意味着贵金属的流出 3.下列关于技术差异论的表述哪一项是不正确的() A.分为绝对技术差异论与相对技术差异论 B.劳动力在国内两个部门之间自由流动,而且机会成本保持不变 C.参与贸易的两个国家福利水平都可以得到提高 D.一国比另一国家的技术优势越大,则通过国际贸易获得的福利增加越大 4.下列哪一条不是重商主义的理论主张() A.贸易不是“零和”的 B.多卖少买,保持贸易顺差,是获得财富的基本原则 C.国家应干预经济,鼓励出口,限制进口 D.金银货币是财富的唯一形态

克鲁格曼 国际经济学第9版教材答案

Chapter 1 Introduction ?Chapter Organization What Is International Economics About? The Gains from Trade The Pattern of Trade How Much Trade? Balance of Payments Exchange Rate Determination International Policy Coordination The International Capital Market International Economics: Trade and Money ?Chapter Overview The intent of this chapter is to provide both an overview of the subject matter of international economics and to provide a guide to the organization of the text. It is relatively easy for an instructor to motivate the study of international trade and finance. The front pages of newspapers, the covers of magazines, and the lead reports on television news broadcasts herald the interdependence of the U.S. economy with the rest of the world. This interdependence may also be recognized by students through their purchases of imports of all sorts of goods, their personal observations of the effects of dislocations due to international competition, and their experience through travel abroad. The study of the theory of international economics generates an understanding of many key events that shape our domestic and international environment. In recent history, these events include the causes and consequences of the large current account deficits of the United States; the dramatic appreciation of the dollar during the first half of the 1980s followed by its rapid depreciation in the second half of the 1980s; the Latin American debt crisis of the 1980s and the Mexican crisis in late 1994; and the increased pressures for industry protection against foreign competition broadly voiced in the late 1980s and more vocally espoused in the first half of the 1990s. The financial crisis that began in East Asia in 1997 and spread to many countries around the globe and the Economic and Monetary Union in Europe highlighted the way in which various national economies are linked and how important it is for us to understand these connections. These global linkages have been highlighted yet again with the rapid spread of the financial crisis in the United States to the rest of the world. At the same time, protests at global economic meetings and a rising wave of protectionist rhetoric have highlighted opposition to globalization. The text material will enable students to understand the economic context in which such events occur. ? 2012 Pearson Education, Inc. Publishing as Addison-Wesley

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