Today the news media focuses on ecomics and the global financial system as it never has before. Managers and executives possess years of hands-on experience dealing with the consequences of global ecomic shocks and increasing globalization, but may t have a solid grounding in the relevant ecomic concepts that shed light on the forces of globalization and attendant macroecomic fluctuations. This book will teach these very powerful ecomic concepts in everyday language with examples from the news, using little or math. Modern ecomics has a lot to say about the forces underlying long-term ecomic growth, international trade, and techlogy. The ecomics literature in these areas is vast, but it is surprising how little of it has percolated to articles or books for n-specialist audiences. For example, Paul Krugman has been an exception, as an author of excellent n-fiction books on ecomics and a New York Times column, but his writings do t explain the concepts he assumes readers understand and, in addition, they are explicitly political. This book's philosophy is that it is important to focus on the core set of models and ideas which have stood the test of time within the ecomics profession. Its goal is to teach the central ecomic material that businesspersons can use in their everyday work to help them interpret news and ecomic and political developments. It is intended as a practical textbook for Executive MBA programs and as a reference for students and business persons, t just in North America, but around the world.
Paul Torelli Seattle, WA, Chief Economist, Quantitative Social Science (MA and Ph.D. Harvard).