Written specifically for MBA students, this Second Edition of MANAGING IN A GLOBAL ECONOMY: DEMYSTIFYING INTERNATIONAL MACROECONOMICS provides a strategic business focus and presents macroeconomics in the context of models for decision-making. With focused business applications, concrete business examples, and an approach to macroeconomic theory via markets, Marthinsen demonstrates how macroeconomics can help leaders make better business decisions. The book helps students grasp practical "big picture" concepts, nurtures an understanding of what causes macroeconomic variables to change, and relates these changes to issues confronting managers. Marthinsen integrates the three major macroeconomic sectors (the real goods market, real loanable funds market, and foreign exchange market) in a user-friendly way. Liberating readers from dry, overly complex macroeconomic models, Marthinsen uses theory only as a means to an end for practical understanding and includes a minimum of math. Real world business examples show how economic shocks, such as monetary and fiscal policies or shifts in international capital flows, affect management decisions. Keeping readers visually engaged with strategic use of figures, tables, charts, and illustrative exhibits, MANAGING IN A GLOBAL ECONOMY emphasizes the interaction among markets and equips MBAs with a macroeconomic perspective that will last (and be used) for years.
Table of Contents
1. Introduction to International Macroeconomics.
Part I: UNDERSTANDING A NATION'S ECONOMIC CONDITIONS.
2. Taking an Economic Pulse: Measuring National Output.
3. Monitoring Labor Market Conditions.
4. Inflation, Real GDP, and Business Cycles.
5. Inflation: Who Wins, and Who Loses?
Part II: REAL LOANABLE FUNDS MARKET.
6 Monetary Aggregates: Measuring Money.
7. Financial Intermediation, Market, and Intermediaries.
8. The Power of Financial Institutions to Create Money.
9. Who Controls the Money Supply and How?
10. The Economics of Virtual Currencies.
11. Interest Rates and Why They Change.
Part III: THE REAL GOODS SECTOR.
12. Price and Output Fluctuations.
13. Fiscal Policy and Automatic Stabilizers: What Managers Need to Know.
Part IV: FOREIGN EXCHANGE MARKET.
14. Basics of Foreign Exchange Markets.
15. Exchange Rates: Why Do They Change?
16. Balance of Payments Fundamentals.
Part V: SHORT-TERM ECONOMIC CHANGES: PUTTING IT ALL TOGETHER.
17. Putting It All Together.
18. Economic Shocks to Nations with Flexible Exchange Rates.
19. Economic Shocks to Nations with Fixed Exchange Rates.
20. Causes and Consequences of the Great Recession.
Part VI: LONG-TERM ECONOMIC CHANGES.
21. Causes of Long-Term Growth and Inflation.
22. Long-Term Exchange Rate Movements and Comparative Advantage.