International Trade and Global Macropolicy

Farrokh K. Langdana Dr. Farrokh Langdana is a professor in the Finance/Economics Department at Rutgers Business School, New Jersey.  In addition to this volume, he is the author of three research-oriented books (two co-authored with Prof. Richard C.K. Burdekin), the textbook, Macroeconomic Policy: Demystifying Monetary and Fiscal Policy, now in its second edition, and several publications pertaining to macroeconomic policy and macro-experimentation. Dr. Langdana is currently the Director of the globally ranked Executive MBA (EMBA) program at Rutgers Business School.  He teaches Macroeconomic Policy as well as International Trade and Global Macroeconomics in the EMBA program as well as in the full-time and Flex MBA programs at Rutgers Business School. In addition to being the recipient of the Warren I. Susman Award for Excellence in Teaching (Rutgers University’s highest teaching award), Prof. Langdana has also been awarded the Paul Nadler Award for Teaching Excellence, the Horace dePodwin Research Award, over ten Executive MBA Teaching Excellence Awards and over 20 Rutgers MBA teaching awards. In addition to teaching in the United States, Prof. Langdana has also taught Executive MBA students in China (Beijing and Shanghai), Singapore, France and in Iceland, and has lectured in India. Please visit Business.Rutgers.edu/Langdanamacro and scroll down for some of Professor Langdana's blogs.  He can be contacted at Langdana@Business.Rutgers.edu Peter T. Murphy Peter T. Murphy is an operating partner with Dubilier & Company.  He currently serves as President and C.E.O. of DC Safety, a leading supplier of safety products to the automotive industry.  Mr. Murphy has 25 years of experience as a pioneer and leader in global business, establishing ventures and achieving growth in dozens of countries across Asia, Europe, and the Americas.   Mr. Murphy’s expertise in business strategyis complemented by his hands-on experience in multiple disciplines including sales, operations, supply chain, finance, marketing, and technology.  His industry experience, in addition to automotive, includes the packaging, apparel, medical equipment, and retail sectors. Mr. Murphy received his Masters in Business Administration with a concentration in Finance from Rutgers Business School in 2010, and was awarded the Executive MBA Achievement Award for Highest Academic Achievement in the EMBA Program.  He earned his Bachelor of Science in Humanities from Iona College in 2006.  He has given lectures on international business and global trade to academic and business audiences in Asia and the United States, and has taught at the MBA level as an adjunct lecturer at Rutgers Business School. Peter Murphy can be contacted at Murphypt@gmail.com

Introduction and Overview.- Part One–International Trade Theory.- The Origins of Trade Theory.- The Ricardian Trade Model.-  Factor Intensity.- Stripping Away Ricardo’s Assumptions.- Trade Barriers and Protectionism.- Part Two–Global Macroeconomics.- Global Macroeconomics.- Exchange Rates.- The ISLM-BOP Model.- Exports and Imports, Real Exchange Rates.- Inflation Added to the Model.- Capital Flows.- The Global Monetary System.- References.