The World Economy: Trade and Finance

Beth and Robert Yarborough have written a comprehensive text that examines the basis for trade and its contribution to ecoonomic growth and development among nations. As trade comes from general economic theory, the authors carefully present and analyze economic principles and how they can be applied to international markets and policies. The basic foundation for the study of economics is that humans have limitless desires but finite resources and alternatives available to them to attain these desires. International trade creates an interrelationship among nations where sociities may derive benefits from mutual exchanges of products and services that provide for more choices for humans to attain their wants and needs. The authors present excellent examples of case studies and policy issues throughout the course of the book. The 21 chapters are written in a clear, straightforward manner with numerous graphical analyses to lend support to trade concepts and principles. The authors do not lose the interest of the reader with intricate quantitative formulas and calculations that many economics books often utilize. They focus on real world issues and challenges that countries often face when dealing with trade policies. The problems and questions at the end of each chapter are also quite practical and involve real world situations. The Yarboroughs have done an excellent job in presenting an academic text for the study of international trade. This text is suitable for both business and non-business students, even those who may just have a cursory knowledge of economics. It would provide an excellent foundation for those wishing to understand how the global economy functions given that international trade is an often discussed subject and one of considerable significance in the world of marketing and commerce.

This book is pretty good as far as text books go. For those people who are very analytical and love things explained in numeric/math forms this is the book for you. I do wish it was more conceptual aka more import/export demand/supply oriented. Though if you're an econ person this shouldn't be too bad.

I used this text in the Multinational Economics 320 class, and I found it a very comprehensive and pleasurable reading. Principles are logically explained and profoundly supported with appropriate statistics. The book has rather broad scope, yet it remains thorough in explanation of basic principles. Suitable for undergraduate courses.