International Trade and Global Macropolicy

In the conventional MBA and Executive MBA curricula of highly-ranked programs, it is increasingly evident that two areas of discussion are conspicuously absent. One area pertains to international trade. In the wake of the Subprime crisis, most economies, certainly including the United States, have become increasingly protectionist. In addition, many governments, intent on ensuring ongoing indigenous innovation, are exploring several forms of “strategic trade” by subsidizing designated “champion” industries with giant doses of tax revenues. The other area conspicuously absent is global macroeconomic policy. In the current global economy, any strategic executive decisions made in the absence of exchange rate considerations or global capital flows would be seriously inadequate and downright simplistic.This book addresses both of these topics and is divided into two parts. The first half contains topics from international trade, including the Ricardian trade theorem, the effect of trade on wages and employment, intra-industry vs. inter-industry trade, trade barriers such as tariffs and quotas, strategic trade, intellectual property, outsourcing and off-shoring, and innovation and trade policies. The second half would address vital issues in global macropolicy such as budget deficits, capital inflows, exchange rates, speculative asset price bubbles, global contagion, global reserve currency, challenges in the Eurozone, and the gold standard. Both international trade and global macropolicy would be each a semester's worth of coverage in a PhD-level economics program. However, at the MBA level, the prime focus is on the applications and policy implications of these topics, making this book the perfect text for MBA and executive MBA students enrolled in courses such as International Trade and Global Macroeconomic Policy, as well as to practitioners who need a solid working knowledge of these topics.

Farrokh K. LangdanaDr. 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.eduPeter T. MurphyPeter 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 strategy is 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