International Trade and Global Macropolicy

In the curricula of highly ranked MBA programs, two areas of discussion are conspicuously absent: 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.

ABOUT THE AUTHORS

This volume provides a unique synthesis of academic and practical perspectives, thanks to the background of its authors.

Farrokh K. Langdana

Dr. Farrokh Langdana is a professor in the Finance/Economics Department at Rutgers Business School (RBS), New Jersey. In addition to this volume, he is the author of four other books including the textbook, Macroeconomic Policy: Demystifying Monetary and Fiscal Policy, and numerous research articles. Dr. Langdana is currently the Director of the globally ranked Executive MBA program at RBS. He has taught Macroeconomic Policy and InternationalTrade extensively at RBS and around the world. Dr. Langdana is the recipient of over thirty teaching and research awards including the Warren I. Susman Award for Excellence in Teaching (Rutgers University's highest teaching award).

Peter T. Murphy

Peter T. Murphy is an operating partner with Dubilier & Company, and currently serves as President and C.E.O. of DC Safety, a leading supplier to the automotive industry. Mr. Murphy has been a leader and pioneer in international business for 25 years, operating in dozens of countries across Asia, Europe, and the Americas. His expertise in strategy and value creation is complemented by hands-on experience across a range of business disciplines. He is a graduate of Iona College and earned his MBA with a concentration in Finance from Rutgers Business School.

Auteur

Farrokh K. Langdana

Dr. Farrokh Langdana is a professor in the Finance/Economics Department at Rutgers Business School, New Jersey. In addition to this volume, he is the author of three research-oriented books (two co-authored with Prof. Richard C.K. Burdekin), the textbook, Macroeconomic Policy: Demystifying Monetary and Fiscal Policy, now in its second edition, and several publications pertaining to macroeconomic policy and macro-experimentation.

Dr. Langdana is currently the Director of the globally ranked Executive MBA (EMBA) program at Rutgers Business School. He teaches Macroeconomic Policy as well as International Trade and Global Macroeconomics in the EMBA program as well as in the full-time and Flex MBA programs at Rutgers Business School.

In addition to being the recipient of the Warren I. Susman Award for Excellence in Teaching (Rutgers University's highest teaching award), Prof. Langdana has also been awarded the Paul Nadler Award for Teaching Excellence, the Horace dePodwin Research Award, over ten Executive MBA Teaching Excellence Awards and over 20 Rutgers MBA teaching awards. In addition to teaching in the United States, Prof. Langdana has also taught Executive MBA students in China (Beijing and Shanghai), Singapore, France and in Iceland, and has lectured in India.

Please visit Business.Rutgers.edu/Langdanamacro and scroll down for some of Professor Langdana's blogs. He can be contacted at Langdana@Business.Rutgers.edu

Peter T. Murphy Peter T. Murphy is an operating partner with Dubilier & Company. He currently serves as President and C.E.O. of DC Safety, a leading supplier of safety products to the automotive industry. Mr. Murphy has 25 years of experience as a pioneer and leader in global business, establishing ventures and achieving growth in dozens of countries across Asia, Europe, and the Americas. Mr. Murphy's expertise in business strategy is complemented by his hands-on experience in multiple disciplines including sales, operations, supply chain, finance, marketing, and technology. His industry experience, in addition to automotive, includes the packaging, apparel, medical equipment, and retail sectors. Mr. Murphy received his Masters in Business Administration with a concentration in Finance from Rutgers Business School in 2010, and was awarded the Executive MBA Achievement Award for Highest Academic Achievement in the EMBA Program. He earned his Bachelor of Science in Humanities from Iona College in 2006. He has given lectures on international business and global trade to academic and business audiences in Asia and the United States, and has taught at the MBA level as an adjunct lecturer at Rutgers Business School. Peter Murphy can be contacted at Murphypt@gmail.com

Contenu

Introduction and Overview.- Part One-International Trade Theory.- The Origins of Trade Theory.- The Ricardian Trade Model.- Factor Intensity.- Stripping Away Ricardo's Assumptions.- Trade Barriers and Protectionism.- Part Two-Global Macroeconomics.- Global Macroeconomics.- Exchange Rates.- The ISLM-BOP Model.- Exports and Imports, Real Exchange Rates.- Inflation Added to the Model.- Capital Flows.- The Global Monetary System.- References.