In recent years the world ecomy has been undergoing drastic changes, the East Asian miracle, the financial crisis, and today, globalization and the fundamental changes associated with the new ecomy . This book integrates these developments with macroecomics for business managers and policymakers.Macroecomics is essential background for the business manager and policymaker. Consequently macroecomics is an integral part of the business curriculum in mature and developing countries alike. And well it should be. The ecomy affects decisions by investors, manufacturers, distributors, importers and exporters, etc. in all parts of the world. Often, it is the difference between growth and profitability on one hand, and stagnation or failure on the other. In recent years as the world ecomy has undergone overwhelming changes, especially in East Asia and w in the advanced countries, understanding what is going on in the local ecomy and out there in the world has become a particular challenge to managers. The new developments, of which the new ecomy is the most recent one, do t supercede the basic theoretical framework of macroecomics. But they add greatly to the challenge of understanding the ecomic situation and to its uncertainty.This book was originally written to meet the needs of a business curriculum based on the program at the Sasin Graduate Institute of Business Administration of Chulalongkorn University in Bangkok in collaboration with the Wharton and Kellogg Business Schools in the United States. The book is intended for a broad audience - both domestic and international - that includes mature MBA business students, intermediate level undergraduates, and informed laypersons.