Higher Education

Microeconomics, 9th Edition

  • William Boyes Arizona State University
  • Michael Melvin Arizona State University
  • ISBN-10: 1111826153  |  ISBN-13: 9781111826154
  • 552 Pages
  • Previous Editions: 2011, 2008, 2005
  • © 2013 | Published
  • College Bookstore Wholesale Price = $224.75
  • Newer Edition Available

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About

Overview

Introduce the latest thinking of today's economists on important microeconomic phenomena while equipping your students with a solid global understanding of microeconomic principles with Boyes/Melvin's MICROECONOMICS, 9E. Now you can clearly illustrate the connections between key microeconomic principles and today's actual business practices with this book's reader-friendly approach, carefully integrated learning features, memorable examples, and unique global emphasis. Timely revisions and the latest microeconomic statistics ensure your course incorporates the most recent data and developments. Revised microeconomics materials emphasize the fundamentals and the practical application of concepts to current events. New microeconomics coverage highlights the current debate on government economic intervention and new discussion of the Economic Freedom Index. Your students gain an in-depth understanding of globalization and its impact on microeconomics today. Effective, leading teaching and learning technology and a full range of supplements, including the best-selling Aplia™ homework system and CourseMate online tools, help complete your microeconomics coverage that clarifies and emphasizes the importance of concepts for career and business success.

Features and Benefits

  • UNIQUE, PROVEN LEARNING FEATURES IMPROVE COMPREHENSION AND STUDENT PERFORMANCE. This popular text's one-of-a-kind, proven pedagogical program helps improve both comprehension and performance. Students attain the knowledge and skills to succeed in class and to develop an understanding of core microeconomic principles essential for success throughout their careers.
  • FUNDAMENTAL QUESTIONS DIRECT STUDENTS' FOCUS TO KEY ISSUES. As students read and prepare for class, this book's useful Fundamental Questions for each chapter help direct students' attention to key microeconomics issues. Chapter summaries and the book's supplements further reinforce these themes and effectively guide students' study.
  • CONVENIENT, INTEGRATED REFERENCING SYSTEM ENABLES STUDENTS TO WORK EFFICIENTLY. With this book's integrated referencing system, students can easily explore and review the microeconomics topics they need, allowing them to work more efficiently and effectively.
  • LEADING APLIA™ ONLINE HOMEWORK SYSTEM INCREASES STUDENT EFFORTS AND ENGAGEMENT. The most successful online product for economics is now fully integrated with this text. Aplia™ offers interactive tools to help prepare your economics students and increase student effort and engagement--without requiring more work from you, the instructor. Students stay on top of coursework with regularly scheduled homework assignments while Aplia™'s high quality automatic grading provides detailed, immediate feedback.

Table of Contents

Part I: INTRODUCTION TO THE PRICE SYSTEM.
1. Economics: The World Around You.
Appendix: working with Graphs.
2. Choice, Opportunity Costs, and Specialization.
3. Markets, Demand and Supply, and the Price System.
4. The Market System and the Private and Public Sectors.
Part II: PRODUCT MARKET BASICS.
5. Elasticity: Demand and Supply.
Appendix: Calculating Elasticity.
6. Consumer Choice.
Appendix: Indifference Analysis.
7. Supply: The Costs of Doing Business.
Appendix: The Mechanics of Going from Production to Costs.
Part III: PRODUCT MARKETS.
8. Profit Maximization.
9. Perfect Competition.
10. Monopoly.
11. Monopolistic Competition and Oligopoly.
12. Antitrust and Regulation.
13. Government and Market Failure.
Part IV: RESOURCE MARKETS.
14. Resource Markets.
15. The Labor Market.
16. Capital Markets.
17. The Land Market and Natural Resources.
Part V: CURRENT ISSUES INVOLVING THE PUBLIC SECTOR AND THE MARKET ECONOMY.
18. Aging, Social Security, and Health Care.
19. Income Distribution, Poverty, and Government Policy.
Part VIII: ISSUES IN INTERNATIONAL TRADE AND FINANCE.
20. World Trade Equilibrium.
21. International Trade Restrictions.
22. Exchange Rates and Financial Links Between Countries.

What's New

  • UPDATED ECONOMIC INSIGHT BOXES EMPHASIZE THE RELEVANCE OF CONCEPTS TO CURRENT EVENTS. Fresh new Economic Insights throughout this edition highlight some of today's most current events to focus readers' attention on the relevance and real-world applications of the concepts in the chapter. These engaging features help students carefully consider a wide range of topics from an informed microeconomic perspective.
  • NEW AND UPDATED ECONOMICALLY SPEAKING AND COMMENTARY FEATURES HIGHLIGHT THE MICROECONOMIC IMPACT OF TODAY'S MOST IMPORTANT EVENTS. Introduce your students the microeconomic causes and consequences of important world events with recent newspaper and magazine articles in this edition's updated and new Economically Speaking and Commentary features. These familiar, interesting, and memorable examples at the end of each chapter emphasize the importance of the material students are learning in your course.
  • REVISED COVERAGE OF MICROECONOMIC TOPICS FURTHER CLARIFIES THE FUNDAMENTALS AND THEIR APPLICATION TO CURRENT EVENTS. New meaningful examples and extensive revisions to various key chapter ensure students better understand microeconomics concepts and their importance in business today.
  • NOTABLE CHANGES TO CONTENT KEEP YOUR COURSE AS CURRENT AS POSSIBLE. Updated examples throughout the text, extensive revisions to the chapter on elasticity, further development of the debate on government economic intervention, a new discussion of the Economic Freedom Index keep your instruction up to date with current developments. You'll also find additional material on game theory, updated information on health care costs, and a detailed examination of income distribution.
  • OPTIONAL COURSEMATE ONLINE RESOURCES SUPPORT INTERACTIVE LEARNING AND CLASS ENGAGEMENT. Watch student comprehension soar as your class works with the printed text and this new, optional text-specific website. This MICROECONOMICS CourseMate brings course concepts to life with interactive learning, study, and exam preparation tools. CourseMate steps beyond the book to deliver an interactive eBook and engaging teaching and learning tools, including quizzes, flashcards, videos, and more. Engagement Tracker, a first-of-its-kind tool, helps you monitor student engagement in your course.

Learning Resource Bundles

Choose the textbook packaged with the resources that best meet your course and student needs. Contact your Learning Consultant for more information.

Printed Text + Aplia Instant Access

ISBN-10: 1285040295  | ISBN-13: 9781285040295

List Price = $311.95  | CengageBrain Price = $311.95  | College Bookstore Wholesale Price = $234.75

This Bundle Includes:

  • Microeconomics
    List Price = $298.95  | CengageBrain Price = $298.95  | College Bookstore Wholesale Price = $224.75
  • Aplia™, 1 term Instant Access
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Printed Text + Economics CourseMate with eBook Instant Access Code

ISBN-10:  1285326539  | ISBN-13:  9781285326535

List Price = $311.95  | CengageBrain Price = $311.95  | College Bookstore Wholesale Price = $234.75

This Bundle Includes:

  • Microeconomics
    List Price = $298.95  | CengageBrain Price = $298.95  | College Bookstore Wholesale Price = $224.75
  • CourseMate, 1 term (6 months) Instant Access
    List Price = $209.00  | CengageBrain Price = $209.00  | College Bookstore Wholesale Price = $209.00


Printed Text + CengageNOW with eBook Instant Access Code

ISBN-10:  1285326547 | ISBN-13:  9781285326542

List Price = $311.95  | CengageBrain Price = $311.95  | College Bookstore Wholesale Price = $234.75

This Bundle Includes:

  • Microeconomics
    List Price = $298.95  | CengageBrain Price = $298.95  | College Bookstore Wholesale Price = $224.75
  • CengageNOW™, 1 term (6 months) Instant Access
    List Price = $126.00  | CengageBrain Price = $126.00  | College Bookstore Wholesale Price = $126.00


Supplements

All supplements have been updated in coordination with the main title. Select the main title's "About" tab, then select "What's New" for updates specific to title's edition.

For more information about these supplements, or to obtain them, contact your Learning Consultant.

Instructor Supplements

Economics, 9th: Test Bank, Microeconomics  (ISBN-10: 1111970246 | ISBN-13: 9781111970246)

Efficiently test your students' understanding of concepts with Examview® test creation software. You'll find the tools you need to import questions directly from the Test Bank, create your own questions, or edit existing questions to create multiple types of tests. Choose from thousands of true/false, multiple-choice, and essay questions from two proven micro and macro printed Test Banks. Examview® is available on the IRCD. Test Banks are also available in print or by download on the Instructor's Text Companion Site. This Microeconomics Test Bank incorporates all of the updates to the text. This test bank is intended for use with Boyes Economics, 9e.

CourseMate, 1 term (6 months) Instant Access  (ISBN-10: 1111964386 | ISBN-13: 9781111964382)

MICROECONOMICS CourseMate brings concepts to life with interactive learning, study, and exam preparation tools that support the printed book. Watch student comprehension soar with this one-stop shop for online learning tools and activities that help students study and apply economic concepts. Students can read using an interactive eBook, can access video tutorials, review flash cards, use a graphing tool, and check understanding with interactive quizzing. All resources are organized by chapter. Engagement Tracker, a first-of-its-kind tool, helps you monitor student engagement in your course.

List Price = $209.00  | CengageBrain Price = $209.00  | College Bookstore Wholesale Price = $209.00

Aplia™, 1 term Instant Access  (ISBN-10: 1133494250 | ISBN-13: 9781133494256)

Engage, prepare and educate students for economic success with this online learning solution. Aplia™ is an online, auto-graded homework system that improves learning by increasing student effort and engagement--without requiring more work from you, the instructor. Students stay on top of coursework with scheduled homework assignments while automatic grading provides detailed, immediate feedback. Aplia™ assignments match the language and structure of MICROECONOMICS, 9E with the most current microeconomic information. Aplia is used by more than 1,000,000 students at over 1,300 institutions.

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Aplia™ with Cengage Learning Write Experience 2.0 Powered by MyAccess, 1 term (6 months) Instant Access  (ISBN-10: 1285058461 | ISBN-13: 9781285058467)

Aplia significantly improves outcomes and elevates thinking by increasing student effort and engagement. Developed by teachers and used by more than 1,000,000 students Aplia assignments connect concepts to the real world and focus on the unique course challenges facing students.

List Price = $136.00  | CengageBrain Price = $136.00  | College Bookstore Wholesale Price = $136.00

Aplia with Cengage Learning Write Experience 2.0 Powered by MyAccess, 1 term (6 months) Instant Access  (ISBN-10: 1133586759 | ISBN-13: 9781133586753)

Succeed in your course with Aplia's interactive learning system--featuring practice problems with immediate feedback and tools developed specifically for EXPLORING MICROECONOMICS, 6th Edition, including step-by-step explanations that help you improve your reasoning and skills, interactive assignments that help you understand difficult or counterintuitive concepts, and more. You'll also receive access to Write Experience 2.0, an innovative system that scores your writing instantly and provides you with detailed revision goals and feedback to put you on track for writing excellence.

List Price = $136.00  | CengageBrain Price = $136.00  | College Bookstore Wholesale Price = $136.00

CengageNOW™, 1 term (6 months) Instant Access  (ISBN-10: 113372664X | ISBN-13: 9781133726647)

Succeed in your economics course with CengageNOW, a powerful online homework tool that optimizes your learning experience. This interactive system generates a diagnostic Personalized Study Plan (with a chapter-specific Pre-test, Study Plan, and Post-test) to help you master concepts, prepare for exams, and get a better grade

List Price = $126.00  | CengageBrain Price = $126.00  | College Bookstore Wholesale Price = $126.00

CengageNOW with Cengage Learning Write Experience 2.0 Powered by MyAccess, 1 term (6 months) Instant Access  (ISBN-10: 1133365736 | ISBN-13: 9781133365730)

With its engaging learning and assessment tools, CengageNOW supports the entire student workflow, from motivation to mastery. For instructors, CengageNOW provides control and customization with the opportunity to tailor the learning experience to improve outcomes.

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MindTap® Economics, 1 term (6 months) Instant Access for Boyes/Melvin's Microeconomics  (ISBN-10: 1285382404 | ISBN-13: 9781285382401)

MindTap was created to harness the power of technology to drive student success. This cloud-based platform integrates a number of learning applications (“apps”) into an easy-to-use and easy to access tool that supports a personalized learning experience. MindTap combines student learning tools-readings, multimedia, activities and assessments-into a singular Learning Path that guides you through your economics course.

List Price = $126.00  | CengageBrain Price = $126.00  | College Bookstore Wholesale Price = $126.00

General MindLink for MindTap® Economics, 1 term (6 months) Instant Access  (ISBN-10: 1285408284 | ISBN-13: 9781285408286)

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MindLink to CengageNOW™, 1 term (6 months) Instant Access  (ISBN-10: 1285321812 | ISBN-13: 9781285321813)

Succeed in your microeconomics course with 1-semester access to CengageNOW, a powerful online homework tool that optimizes your learning experience. This interactive system generates a diagnostic Personalized Study Plan (with a chapter-specific Pre-test, Study Plan, and Post-test) to help you master concepts, prepare for exams, and get a better grade

List Price = $126.00  | CengageBrain Price = $126.00  | College Bookstore Wholesale Price = $126.00

LMS Integrated for Aplia™, 1 term Instant Access  (ISBN-10: 1285323327 | ISBN-13: 9781285323329)

Succeed in your microeconomics course with one full semester of access to Aplia's interactive learning system--featuring practice problems with immediate feedback and tools developed specifically for MICROECONOMICS, 9th Edition. Aplia has already helped more than a million students succeed in college classes.

List Price = $126.00  | CengageBrain Price = $126.00  | College Bookstore Wholesale Price = $126.00

Instructor's Resource Manual (print-on-denand, online & Instructor's Resource CD-ROM)  (ISBN-10: 1111970262 | ISBN-13: 9781111970260)

This updated Instructor's Resource Manual highlights the book's most recent content and updates as well as unique features of the chapter and objectives students need to master for success in later chapters. You'll find fundamental questions, key terms, discussion opportunities, active learning exercises, and answers to every exercise in each chapter. Chapter lecture outlines offer teaching strategies, including general techniques, guidelines, essay topics, and other suggestions. You'll also find Study Guide homework questions. The Instructor's Manual is available on the IRCD or in print.

Instructor’s Resource CD-ROM  (ISBN-10: 1111826196 | ISBN-13: 9781111826192)

Find everything you need for your Principles of Economics course with this all-in-one resource. The Instructor’s Resource CD-ROM includes the Instructor’s Manual, Test Banks (for micro and macro), PowerPoint® slides, Exhibit PowerPoint® slides, and ExamView™ test generating software. These resources are also available for download at your convenience at the text’s Companion Website. New content within each of these resources is thoroughly updated to correspond to the updates and content of the latest edition of this text.

Student Supplements

CengageNOW on Blackboard®, 1 term (6 months) Instant Access  (ISBN-10: 1133726666 | ISBN-13: 9781133726661)

Have the tools you need to be successful A variety of tools are available in CengageNOW™, all combined in one easy-to-use resource designed to improve your grades. Some resources get you prepared for class and help you succeed on homework, and others show you specific areas where you can work to improve. Stay ahead of the course requirements CengageNOW shows you the path through your course—from first day through finals. Once you know what’s expected, it’s easier to complete your assignments. Gain understanding that stays with you Do well on tests as well as the assignments! Bridge the gap between homework and tests by using CengageNOW to truly understand the material. Self-study and review materials keep you on the right track, to make sure your understanding goes beyond memorization. Set yourself up for better grades Why wonder where you stand? CengageNOW includes trackable assignments and grades. It tells you what to do to improve your grade, and gives you the tools to accomplish it! Student Testimonials: “I love the check your work option. Really, when you’re having a hard time figuring out an answer, sometimes working backwards is the best way to understand conceptually what you’re doing wrong.” - Brad Duncan University of Utah “I liked the videos because they were short enough to teach me and because they were short, I was able to find time to watch them again and again if I did not understand the first time.” - Jennifer Wright Northeast Wisconsin Technical College CTA: Ask your instructor about CengageNOW for this course.

List Price = $126.00  | College Bookstore Wholesale Price = $126.00

CourseMate, 1 term (6 months) Instant Access  (ISBN-10: 1111964386 | ISBN-13: 9781111964382)

The more you study, the better the results. Make the most of your study time by accessing everything you need to succeed in one place online. MICROECONOMICS CourseMate equips you with a portal to a wealth of resources to help you both study and apply economic concepts. You can access video tutorials, review with flash cards and a graphing tool, and check your understanding of the chapter with interactive quizzing. All the study and application resources in CourseMate are organized by chapter and reflect the latest updates in the text to help you get the most from your microeconomics course.

List Price = $209.00  | CengageBrain Price = $209.00  | College Bookstore Wholesale Price = $209.00

Aplia™, 1 term Instant Access  (ISBN-10: 1133494250 | ISBN-13: 9781133494256)

Succeed in your course with Aplia™'s interactive learning system--featuring practice problems, interactive tutorials, online experiments, and more. With Aplia™ you get the help you need to stay on top of your coursework. This innovative, online learning solution makes it convenient to read your e-text and master microeconomics. Interactive tools and automatically graded homework with immediate feedback further your understanding. It's easy to apply what you learn in the text directly to homework. Aplia is used by more than 1,000,000 students at over 1,300 institutions worldwide.

List Price = $126.00  | CengageBrain Price = $126.00  | College Bookstore Wholesale Price = $126.00

Aplia™ with Cengage Learning Write Experience 2.0 Powered by MyAccess, 1 term (6 months) Instant Access  (ISBN-10: 1285058461 | ISBN-13: 9781285058467)

One million+ students, one billion answers In just 10 years, more than one billion answers have been submitted through Aplia, the premier online assignment solution. Millions of students use Aplia to better prepare for class and for their exams. Join them today! Know what’s important Aplia assignments mean “no surprises”—with an at-a-glance view of current assignments organized by due date, you always know what’s due, and when. Discover real-world relevance Aplia ties your lessons into real-world applications so you get a bigger, better picture of how you’ll use your education in your future workplace. Master the content Automatic grading and immediate step-by-step feedback helps you master content the right way the first time. Student Testimonial: “I was very engaged; the content in Aplia is useful. The study tools and materials in Aplia most definitely help me feel more prepared. I understood more than I would have otherwise.” - Tia Student, Glendale Community College CTA: Ask your instructor about Aplia for this course. www.cengage.com/aplia

List Price = $136.00  | CengageBrain Price = $136.00  | College Bookstore Wholesale Price = $136.00

Aplia with Cengage Learning Write Experience 2.0 Powered by MyAccess, 1 term (6 months) Instant Access  (ISBN-10: 1133586759 | ISBN-13: 9781133586753)

Succeed in your course with Aplia's interactive learning system--featuring practice problems with immediate feedback and tools developed specifically for EXPLORING MICROECONOMICS, 6th Edition, including step-by-step explanations that help you improve your reasoning and skills, interactive assignments that help you understand difficult or counterintuitive concepts, and more. You'll also receive access to Write Experience 2.0, an innovative system that scores your writing instantly and provides you with detailed revision goals and feedback to put you on track for writing excellence.

List Price = $136.00  | CengageBrain Price = $136.00  | College Bookstore Wholesale Price = $136.00

CengageNOW™, 1 term (6 months) Instant Access  (ISBN-10: 113372664X | ISBN-13: 9781133726647)

Succeed in your economics course with CengageNOW™, a powerful online homework tool that optimizes your learning experience. This interactive system generates a diagnostic Personalized Study Plan (with a chapter-specific Pre-test, Study Plan, and Post-test) to help you master concepts, prepare for exams, and get a better grade

List Price = $126.00  | CengageBrain Price = $126.00  | College Bookstore Wholesale Price = $126.00

CengageNOW with Cengage Learning Write Experience 2.0 Powered by MyAccess, 1 term (6 months) Instant Access  (ISBN-10: 1133365736 | ISBN-13: 9781133365730)

Have the tools you need to be successful A variety of tools are available in CengageNOW™, all combined in one easy-to-use resource designed to improve your grades. Some resources get you prepared for class and help you succeed on homework, and others show you specific areas where you can work to improve. Stay ahead of the course requirements CengageNOW shows you the path through your course—from first day through finals. Once you know what’s expected, it’s easier to complete your assignments. Gain understanding that stays with you Do well on tests as well as the assignments! Bridge the gap between homework and tests by using CengageNOW to truly understand the material. Self-study and review materials keep you on the right track, to make sure your understanding goes beyond memorization. Set yourself up for better grades Why wonder where you stand? CengageNOW includes trackable assignments and grades. It tells you what to do to improve your grade, and gives you the tools to accomplish it! Student Testimonials: “I love the check your work option. Really, when you’re having a hard time figuring out an answer, sometimes working backwards is the best way to understand conceptually what you’re doing wrong.” - Brad Duncan University of Utah “I liked the videos because they were short enough to teach me and because they were short, I was able to find time to watch them again and again if I did not understand the first time.” - Jennifer Wright Northeast Wisconsin Technical College CTA: Ask your instructor about CengageNOW for this course.

List Price = $136.00  | CengageBrain Price = $136.00  | College Bookstore Wholesale Price = $136.00

Cengage Learning Write Experience 2.0 Powered by MyAccess with eBook, 1 term (6 months) Instant Access  (ISBN-10: 1285058453 | ISBN-13: 9781285058450)

List Price = $126.00  | College Bookstore Wholesale Price = $126.00

MindTap® Economics, 1 term (6 months) Instant Access for Boyes/Melvin's Microeconomics  (ISBN-10: 1285382404 | ISBN-13: 9781285382401)

MindTap was created to harness the power of technology to drive student success. This cloud-based platform integrates a number of learning applications (“apps”) into an easy-to-use and easy to access tool that supports a personalized learning experience. MindTap combines student learning tools-readings, multimedia, activities and assessments-into a singular Learning Path that guides you through your economics course.

List Price = $126.00  | CengageBrain Price = $126.00  | College Bookstore Wholesale Price = $126.00

General MindLink for MindTap® Economics, 1 term (6 months) Instant Access  (ISBN-10: 1285408284 | ISBN-13: 9781285408286)

MindTap was created to harness the power of technology to drive student success. This cloud-based platform integrates a number of learning applications (“apps”) into an easy-to-use and easy to access tool that supports a personalized learning experience. MindTap combines student learning tools-readings, multimedia, activities and assessments-into a singular Learning Path that guides you through your economics course.

List Price = $126.00  | CengageBrain Price = $126.00  | College Bookstore Wholesale Price = $126.00

MindLink to CengageNOW™, 1 term (6 months) Instant Access  (ISBN-10: 1285321812 | ISBN-13: 9781285321813)

Succeed in your microeconomics course with 1-semester access to CengageNOW™, a powerful online homework tool that optimizes your learning experience. This interactive system generates a diagnostic Personalized Study Plan (with a chapter-specific Pre-test, Study Plan, and Post-test) to help you master concepts, prepare for exams, and get a better grade

List Price = $126.00  | CengageBrain Price = $126.00  | College Bookstore Wholesale Price = $126.00

LMS Integrated for Aplia™, 1 term Instant Access  (ISBN-10: 1285323327 | ISBN-13: 9781285323329)

Succeed in your microeconomics course with one full semester of access to Aplia's interactive learning system--featuring practice problems with immediate feedback and tools developed specifically for MICROECONOMICS, 9th Edition. Aplia has already helped more than a million students succeed in college classes.

List Price = $126.00  | CengageBrain Price = $126.00  | College Bookstore Wholesale Price = $126.00

Meet the Author

Author Bio

William Boyes

Dr. William Boyes is professor of economics at Arizona State University. He received his Ph.D. in economics from the Claremont Graduate School in 1974. Before joining the Arizona State faculty, he was the Distinguished Visiting Professor of Business at Weber State University; visiting professor at Tsinghua University, Beijing, China and the University of London, London, England, and lectured at ITAM in Mexico City; and was the dean of the College of Business at Cal Poly, San Luis Obispo. Dr. Boyes has also served as chairman of the Economics Department at ASU and has been an economist with Security Pacific National Bank (now Bank of America). He has been a consultant to the White House, the Commerce Department, the Federal Trade Commission, and several private firms. He is the director of the office of economic education at ASU and a member of the Pacific Research Institute's Academic Advisory Board. Dr. Boyes has received many teaching awards, including the Golden Key National Honor Society Outstanding Professor Award at ASU in 1988, the Outstanding Teacher in the MBA Program Award at ASU in 1994, the Outstanding Teacher in the College of Business Award at ASU in 1995, Huizingh Outstanding Honors Professor in 2007, and Outstanding MBA Professor in 2008.

Michael Melvin

Michael Melvin is currently Head of Currency Research at Barclays Global Investors. He also retains affiliations at the Arizona State University Department of Economics and the Haas School of Business at the University of California, Berkeley. Dr. Melvin received his Ph.D. in economics from UCLA in 1980. He has served as a visiting scholar at the Federal Reserve Board and the International Monetary Fund, was a Fulbright Professor at the University of Frankfurt, and has been a visiting professor at UCLA, Northwestern University, U.C. San Diego, and the University of Hawaii. His field of specialization is International Finance, and he is the coeditor of the Journal of International Money and Finance.