A foundational text, this book explores the key components of international macroeconomics at the undergraduate level.
In fifteen chapters and five broad sections, the topics covered include the exchange rate, interest rates, and expectations; the intertemporal approach to net exports and the current account; intertemporal monetary models of the price level, the exchange rate, and the balance of payments; multi-sectoral models of real and nominal exchange rates; and topics in international finance.
Economics professor and researcher Kit Pasula’s approach provides significant prominence to dynamic models, financial and business cycle models that emphasize expectations, and multi-sectoral models with both traded and non-traded goods. While the approach is consistent with international macroeconomics at the academic level, the material is made highly accessible to undergraduate students and to all new learners using diagrams and equations. Each chapter also includes additional learning items, such as empirical applications, an extensive list of practice questions, and a “Data Analytics” section that provides details of applied exercises.
Well-organized, rigorous, and deeply informative, International Macroeconomics improves readers’ understandings of international macroeconomics and the workings of the global economy.
Preface
Part I: The Exchange Rate, Interest Rates, and Expectations
Chapter 1: The Exchange Rate in the Very Short Run
Chapter 2: The Exchange Rate and the Interest Rate in the Very Short Run
Chapter 3: A Fixed Exchange Rate in the Very Short Run
Part II: The Intertemporal Approach to Net Exports and the Current Account
Chapter 4: The Intertemporal Theory of Consumption and Saving
Chapter 5: The Intertemporal Approach to the Current Account
Chapter 6: Investment Spending, Production, and the Intertemporal Approach to
the
Current Account
Part III: Intertemporal Monetary Models of the Price Level, the Exchange
Rate,
and the Balance of Payments
Chapter 7: An Intertemporal, Choice-Theoretic Model with Money
Chapter 8: Money, the Price Level, and the Exchange Rate
Chapter 9: Money, Reserves, and the Price Level under a Fixed Exchange Rate
Part IV: Multi-Sectoral Models of Real and Nominal Exchange Rates
Chapter 10: Traded Goods, Non-Traded Goods, and the Exchange Rate
Chapter 11: Traded Goods, Non-Traded Goods, and the Price Level under a
Fixed
Exchange Rate
Chapter 12: The Terms of Trade and the Exchange Rate
Part V: Topics in International Macroeconomics
Chapter 13: The IS-LM-IRP Model of the Business Cycle
Chapter 14: A Dynamic Model with a Non-Traded Good
Chapter 15: A Two-Country Dynamic Model of Real Interest Rates and Current
Account
Balances
References
Index
Kit Pasula is an associate professor of economics at the University of British Columbia, Okanagan.
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