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International Macroeconomics

Fifth Edition ©2021 Robert Feenstra; Alan Taylor

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Help your students navigate the realities of the global economy—the theories, the data, the policies and their impact.

Available for the first time with Macmillan's new online learning tool, Achieve, the new edition of Feenstra and Taylor’s International Economics provides engaging, balanced coverage and applications of key concepts. Developed in the classroom by two of the most prominent researchers in the field, it seamlessly blends theory and empirical data with real-world policies, events, and evidence. And with Achieve, the new edition adds an enhanced interactive dimension to investigating the global economy.

Features

ONLINE
Achieve
Engage every student.
Achieve is a comprehensive set of interconnected teaching and assessment tools. It incorporates the most effective elements from Macmillan’s market leading solutions—including Sapling, LaunchPad, iClicker and others—in a single, easy to use platform. Our resources were co-designed with instructors and students, using a foundation of learning research and rigorous testing.

Featured in Achieve (derived from the text)
Discovering Data problems ask students to locate, analyze, and interpret real-world data related to chapter topics.

Work It Out problems at the end of each chapter provide students with step-by-step assistance, thus helping develop analytical skills.

Curated End of Chapter problems are multi-step questions, adapted from problems in the text, paired with rich feedback for incorrect and correct responses that guide students through the process of problem solving. These questions also feature graphing problems.

IN THE TEXTBOOK
Theory matched with application, reflecting applied research and data.

Balanced coverage of emerging and advanced economies.

Coverage of the latest events and the newest research.

New to This Edition

ONLINE
Achieve
Engage every student.
Achieve is a comprehensive set of interconnected teaching and assessment tools. It incorporates the most effective elements from Macmillan’s market leading solutions—including Sapling, LaunchPad, iClicker and others—in a single, easy to use platform. Our resources were co-designed with instructors and students, using a foundation of learning research and rigorous testing.

Featured in Achieve
Discovering Data problems ask students to locate, analyze, and interpret real-world data related to chapter topics.

Work It Out problems at the end of each chapter provide students with step-by-step assistance, thus helping develop analytical skills.

IN THE TEXTBOOK
A slimmed down text gives students more time for putting concepts into practice. In addition:

New coverage of poor countries and financial globalization.
New application about monetary policy at the zero-lower bound after the Global Financial Crisis and the coronavirus pandemic recession.
Thorough updating of the most recent changes in the EU and the Eurozone, including Brexit.
Data, examples and applications updated throughout.

"The Feenstra/Taylor text is consistently one of the most well written texts in international economics. They present material in a way that is consistent across chapters in the text and with other classes students take in economics."

-Mark Scanlan, Stephen F. Austin State University

"Currently, the best textbook in International Macroeconomic[s] for undergraduates in the U.S."

-Carlos Pulido, Arizona State University - Tempe

"One of the reasons why I choose to use this textbook is because of the quality of the problems at the end of each chapter and the numerous (rich) choices they give me in assigning a problem to my students."

-Bedassa Tadesse, University of Minnesota - Duluth

"The explanations of difficult concepts are the best in this book. The graphs are clear and well supported with discussion for students to understand how they work."

-Anthony Delmond, The University of Tennessee - Martin

International Macroeconomics

Robert Feenstra; Alan Taylor

International Macroeconomics

Fifth Edition 2021

Robert Feenstra; Alan Taylor

PART 1 INTRODUCTION TO INTERNATIONAL MACROECONOMICS
1. The Global Macroeconomy

PART 2 EXCHANGE RATES
2. Introduction to Exchange Rates and the Foreign Exchange Market
3. Exchange Rates I: The Monetary Approach in the Long Run
4. Exchange Rates II: The Asset Approach in the Short Run

PART 3 THE BALANCE OF PAYMENTS
5. National and International Accounts: Income, Wealth, and the Balance of Payments
6. Balance of Payments I: The Gains from Financial Globalization
7. Balance of Payments II: Output, Exchange Rates, and Macroeconomic Policies in the Short Run

PART 4 APPLICATIONS AND POLICY ISSUES
8. Fixed Versus Floating: International Monetary Experience
9. Exchange Rate Crises: How Pegs Work and How They Break
10. The Euro: Economics and Politics
11. (online only) Topics in International Macroeconomics

International Macroeconomics

Fifth Edition 2021

Robert Feenstra; Alan Taylor

Find Your Rep

Robert C. Feenstra

Robert C. Feenstra is Professor of Economics at the University of California, Davis. He received his B.A. in 1977 from the University of British Columbia, Canada, and his Ph.D. in economics from MIT in 1981. Feenstra has been teaching international trade at the undergraduate and graduate levels at UC Davis since 1986, where he holds the C. Bryan Cameron Distinguished Chair in International Economics. Feenstra is a research associate of the National Bureau of Economic Research, where he directs the International Trade and Investment research program. He is the author of Offshoring in the Global Economy and Product Variety and the Gains from Trade (MIT Press, 2010). Feenstra received the Bernhard Harms Prize from the Institute for World Economics, Kiel, Germany, in 2006, and delivered the Ohlin Lectures at the Stockholm School of Economics in 2008. He lives in Davis, California, with his wife Gail, and has two grown children: Heather, who is a genetic counselor; and Evan, who recently graduated from Pitzer College.

Alan M. Taylor

Alan M. Taylor is Professor of Economics at the University of California, Davis. He received his B.A. in 1987 from King’s College, Cambridge, U.K and earned his Ph.D. in economics from Harvard University in 1992. Taylor has been teaching international macroeconomics, growth, and economic history at UC Davis since 1999, where he directs the Center for the Evolution of the Global Economy. He is also a research associate of the National Bureau of Economic Research and coauthor (with Maurice Obstfeld) of Capital Markets: Integration, Crisis and Growth (Cambridge University Press, 2004). Taylor was awarded a Guggenheim Fellowship in 2004 and was a visiting professor at the American University in Paris and London Business School in 2005–06. He lives in Davis, with his wife Claire, and has two young children, Olivia and Sebastian.

International Macroeconomics

Fifth Edition 2021

Robert Feenstra; Alan Taylor

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International Macroeconomics

Fifth Edition ©2021 Robert Feenstra; Alan Taylor

GO DIGITAL WITH ACHIEVE

Help your students navigate the realities of the global economy—the theories, the data, the policies and their impact.

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