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Since the global financial crisis, speculation has been rampant about the dollar's looming if not imminent displacement as the world's leading currency. The author makes the case that the crisis has actually strengthened the dollar's position.

International Economics: Understanding the Forces of Globalization for Managers is a 6-chapter book published in 2013 by the Business Expert Press and written by Dr. Paul Torelli, chief economist at Quantitative Social Science. The author explains that, because of the impact of globalization, new technology, and international trade, business managers need more than ever to understand basic economic concepts to make well-rounded decisions. To that end, this book outlines the conceptual foundation of economic globalization. Starting with the important milestones in the history of global trade development, the author explores how global trade has developed, and how globalization has fostered growth, consumption, and higher standards of living. He explains the core models of economic theory relevant to managers and how these concepts provide a framework for interpreting the global economy. He also shares insight on using the book in management courses and suggests complementary readings including case studies. In Chapter 1, A Brief History of Modern Economic Globalization (39 pages), the author explains the historical basis of modern economic thought. He shows how economic integration and international trade have continued to grow throughout history and recaps relevant historical milestones and their impact on the economy. He begins with the first outbreaks of the plague in the 1300s, which caused drastic global population decline, and follows the rise and fall of the world's economic powers through to the "hyper-globalization" of the 1980s.

International Economics: Understanding the Forces of Globalization for Managers is a 6-chapter book published in 2013 by the Business Expert Press and written by Dr. Paul Torelli, chief economist at Quantitative Social Science. The author explains that, because of the impact of globalization, new technology, and international trade, business managers need more than ever to understand basic economic concepts to make well-rounded decisions. To that end, this book outlines the conceptual foundation of economic globalization. Starting with the important milestones in the history of global trade development, the author explores how global trade has developed, and how globalization has fostered growth, consumption, and higher standards of living. He explains the core models of economic theory relevant to managers and how these concepts provide a framework for interpreting the global economy. He also shares insight on using the book in management courses and suggests complementary readings including case studies. In Chapter 2, Economic Growth, Convergence, and Trade (24 pages), the author considers the factors that lead to varying growth rates between countries. He explains how the Neo Classical Growth Model provides a framework for understanding long-term growth. He reviews the three components of the model, labor, capital, and technology, and the implication that varying the input of labor and capital can lead to an equilibrium state. He provides support for the model through the analysis of how globalization facilitated growth in Asia, Latin America, and Africa.

International Economics: Understanding the Forces of Globalization for Managers is a 6-chapter book published in 2013 by the Business Expert Press and written by Dr. Paul Torelli, chief economist at Quantitative Social Science. The author explains that, because of the impact of globalization, new technology, and international trade, business managers need more than ever to understand basic economic concepts to make well-rounded decisions. To that end, this book outlines the conceptual foundation of economic globalization. Starting with the important milestones in the history of global trade development, the author explores how global trade has developed, and how globalization has fostered growth, consumption, and higher standards of living. He explains the core models of economic theory relevant to managers and how these concepts provide a framework for interpreting the global economy. He also shares insight on using the book in management courses and suggests complementary readings including case studies. In Chapter 3, Theories of International Trade (29 pages), the author explains the fundamentals of global trade by looking at the evolution of key concepts. He reviews absolute and comparative advantage and how changes in the early twentieth century economy led to a greater emphasis on capital through the development of the factor proportions model. He explains the factor proportion model and related theorems that lend greater modern relevance and empirical support. He also discusses the impacts of trade policies and the inherent tradeoffs for globalization.

International Economics: Understanding the Forces of Globalization for Managers is a 6-chapter book published in 2013 by the Business Expert Press and written by Dr. Paul Torelli, chief economist at Quantitative Social Science. The author explains that, because of the impact of globalization, new technology, and international trade, business managers need more than ever to understand basic economic concepts to make well-rounded decisions. To that end, this book outlines the conceptual foundation of economic globalization. Starting with the important milestones in the history of global trade development, the author explores how global trade has developed, and how globalization has fostered growth, consumption, and higher standards of living. He explains the core models of economic theory relevant to managers and how these concepts provide a framework for interpreting the global economy. He also shares insight on using the book in management courses and suggests complementary readings including case studies. Chapter 4, Industrialization, Globalization, and Labor Markets (32 pages), considers the impact of a growing economy. The author looks at a country's transition from a service economy to a manufacturing economy through the framework of the Lewis Model of Development and also reviews criticisms of the model. He considers the factors of industrial policy, economic diversification, managerial capital, population growth, and wage levels. He looks specifically at the labor markets in America, Mexico, China, and India for empirical evidence on the impacts of globalization.

International Economics: Understanding the Forces of Globalization for Managers is a 6-chapter book published in 2013 by the Business Expert Press and written by Dr. Paul Torelli, chief economist at Quantitative Social Science. The author explains that, because of the impact of globalization, new technology, and international trade, business managers need more than ever to understand basic economic concepts to make well-rounded decisions. To that end, this book outlines the conceptual foundation of economic globalization. Starting with the important milestones in the history of global trade development, the author explores how global trade has developed, and how globalization has fostered growth, consumption, and higher standards of living. He explains the core models of economic theory relevant to managers and how these concepts provide a framework for interpreting the global economy. He also shares insight on using the book in management courses and suggests complementary readings including case studies. In Chapter 5, Politics, Globalization, and the State (28 pages), the author considers the relationship between government and growth. He explains the correlation between democracy and economic growth and provides empirical data. He also considers the influence of globalization on non-democratic nations. He explains different views on free trade, referencing the Stolper-Samuelson theorem, and the influence of political groups in an economy. He discusses the impact of trade and globalization on war.

International Economics: Understanding the Forces of Globalization for Managers is a 6-chapter book published in 2013 by the Business Expert Press and written by Dr. Paul Torelli, chief economist at Quantitative Social Science. The author explains that, because of the impact of globalization, new technology, and international trade, business managers need more than ever to understand basic economic concepts to make well-rounded decisions. To that end, this book outlines the conceptual foundation of economic globalization. Starting with the important milestones in the history of global trade development, the author explores how global trade has developed, and how globalization has fostered growth, consumption, and higher standards of living. He explains the core models of economic theory relevant to managers and how these concepts provide a framework for interpreting the global economy. He also shares insight on using the book in management courses and suggests complementary readings including case studies. Chapter 6, Poverty, Progress, and Critics of Globalization (32 pages), summarizes several arguments against globalization. The author reviews the research underlying these criticisms and highlights both positive and negative effects on the labor market, population growth, poverty levels, and public health. He discusses the example of Walmart to illustrate both benefits of arguments against globalization. He also looks at issues within labor unions, international financial integration, the unequal accumulation of financial power, and ultimate happiness.

Does discrimination on the basis of gender, religion or ethnic origin exist in the job market? Why do employers use these factors in hiring decisions? Is discrimination equally prevalent in different sectors and in the presence of countervailing information? Are reasons for job market discrimination justified? What are possible strategies for combating job market discrimination? This case examines these questions in the context of hiring in the entry level white collar job market in an emerging economy.

Why is allocating courses to students in universities a challenging task? How difficult is it for institutions to strike a balance between the students' preferences over courses and what they can make available given the feasibility and other constraints? What are the plausible short-term and long-term effects of this demand-supply mismatch on students' university experiences and career aspirations? What are the relative pros and cons of allocation mechanisms such as course auctions, rank-order lists and random serial dictatorship used by academic administrators? Can universities design better systems that are simpler, fairer and cannot be gamed yet put students in courses they want? This case attempts to answer these questions by primarily examining the course allocation problem as a two-sided matching issue.

Describes Olam's development of a sustainable cotton supply chain in Côte d'Ivoire, West Africa. Key dilemma for its managers: feasibility of introducing tractor technology for improving yield.

Economic Decision Making Using Cost Data: A Manager's Guide is a 6-chapter book published in 2013 by the Business Expert Press and written by Daniel Marburger of Arkansas State University and Ryan Peterson, a practicing accountant. In this book, the authors outline basic economic theory as a guide for managers in making business decisions involving unit cost estimates. In this context, they examine key economic concepts such as opportunity cost, demand theory, and cost theory as well as different approaches to cost accounting. The authors posit that cost accounting represents the results of previous outcomes and, as such, does not provide the information that managers need to make sound decisions moving forward. The authors examine the potential pitfalls that a manager may face when making decisions based on cost estimates and suggest how best to use economic theory to maximize a company's profits. In Chapter 1, What Does Economics Have to Do with Running a Business? (13 pages), the authors explore how economic principles can inform decisions. They posit that economics is the study of how people make decisions within a set of constraints and that managers can apply basic economic principles to make profitable business decisions. The concept of opportunity cost is explored and contrasted to cost-accounting estimates. The authors illustrate the impact of this difference on strategic decision-making through a discussion of the information and choices available to retail stores in a mall that loses significant customer traffic due to competition.

Economic Decision Making Using Cost Data: A Manager's Guide is a 6-chapter book published in 2013 by the Business Expert Press and written by Daniel Marburger of Arkansas State University and Ryan Peterson, a practicing accountant. In this book, the authors outline basic economic theory as a guide for managers in making business decisions involving unit cost estimates. In this context, they examine key economic concepts such as opportunity cost, demand theory, and cost theory as well as different approaches to cost accounting. The authors posit that cost accounting represents the results of previous outcomes and, as such, does not provide the information that managers need to make sound decisions moving forward. The authors examine the potential pitfalls that a manager may face when making decisions based on cost estimates and suggest how best to use economic theory to maximize a company's profits. In Chapter 2, What Matters and What Doesn't: Relevant Revenues and Costs (12 pages), the authors explore the decision-making value of basic data provided by standard accounting reports. They explain why a manager should evaluate the outcome of each decision alternative based only on the relevant revenue and cost, or those which a particular decision will impact. Using the example of a fundraiser, they explore the elements involved in relevant revenue and cost, including avoidable and unavoidable fixed costs, variable cost, sunk costs, and breakeven analysis. The authors demonstrate why managers should not look at historical costs, but instead consider only expected future costs when making decisions.

Economic Decision Making Using Cost Data: A Manager's Guide is a 6-chapter book published in 2013 by the Business Expert Press and written by Daniel Marburger of Arkansas State University and Ryan Peterson, a practicing accountant. In this book, the authors outline basic economic theory as a guide for managers in making business decisions involving unit cost estimates. In this context, they examine key economic concepts such as opportunity cost, demand theory, and cost theory as well as different approaches to cost accounting. The authors posit that cost accounting represents the results of previous outcomes and, as such, does not provide the information that managers need to make sound decisions moving forward. The authors examine the potential pitfalls that a manager may face when making decisions based on cost estimates and suggest how best to use economic theory to maximize a company's profits. Chapter 3, Determining Relevant Revenues: Understanding the Buyer (22 pages), highlights the key concepts in demand theory. The authors posit that understanding the law of demand and the influence of consumer behavior factors on demand will help managers understand relevant revenue. Using the example of concessions at a baseball game, the authors illustrate the concepts of demand, marginal utility, and marginal revenue. They outline the factors that impact demand, including product pricing and competition, as well as consumer income, tastes, and price expectations. They also explore the concepts of price elasticity and cross-price elasticity, providing several real-world applications of why both are critical components of decision-making.

Economic Decision Making Using Cost Data: A Manager's Guide is a 6-chapter book published in 2013 by the Business Expert Press and written by Daniel Marburger of Arkansas State University and Ryan Peterson, a practicing accountant. In this book, the authors outline basic economic theory as a guide for managers in making business decisions involving unit cost estimates. In this context, they examine key economic concepts such as opportunity cost, demand theory, and cost theory as well as different approaches to cost accounting. The authors posit that cost accounting represents the results of previous outcomes and, as such, does not provide the information that managers need to make sound decisions moving forward. The authors examine the potential pitfalls that a manager may face when making decisions based on cost estimates and suggest how best to use economic theory to maximize a company's profits. In Chapter 4, What Your Cost Accountant Can't Measure: The Economic Theory of Production and Cost (28 pages), the authors explore what managers need to understand about relevant cost and cost accounting methods. They explain the pitfalls inherent in how most firms calculate cost information and how this can mislead managers. They illustrate the concepts of production theory and the law of diminishing returns, using the example of a doughnut shop to explain cost theory, including fixed and variable costs, total costs, and marginal costs. The authors discuss how a manager can determine the output and pricing necessary to maximize a company's profit.

Economic Decision Making Using Cost Data: A Manager's Guide is a 6-chapter book published in 2013 by the Business Expert Press and written by Daniel Marburger of Arkansas State University and Ryan Peterson, a practicing accountant. In this book, the authors outline basic economic theory as a guide for managers in making business decisions involving unit cost estimates. In this context, they examine key economic concepts such as opportunity cost, demand theory, and cost theory as well as different approaches to cost accounting. The authors posit that cost accounting represents the results of previous outcomes and, as such, does not provide the information that managers need to make sound decisions moving forward. The authors examine the potential pitfalls that a manager may face when making decisions based on cost estimates and suggest how best to use economic theory to maximize a company's profits. Chapter 5, How Accountants Measure Opportunity (27 pages), explains the authors' approach to cost accounting and why they believe that this information can mislead managers if not fully understood. They explain that cost accounting has three main uses: for providing information to external users (such as banks or investors), as a tool for tax preparation, and for informing managerial decision-making. They also examine the benefits and drawbacks of different approaches to costing, including absorption costing, variable costing, and activity-based costing. They caution managers that accounting costs reflect historic performance and suggest that, for this reason, they are only valuable as estimates of opportunity or marginal costs.

Economic Decision Making Using Cost Data: A Manager's Guide is a 6-chapter book published in 2013 by the Business Expert Press and written by Daniel Marburger of Arkansas State University and Ryan Peterson, a practicing accountant. In this book, the authors outline basic economic theory as a guide for managers in making business decisions involving unit cost estimates. In this context, they examine key economic concepts such as opportunity cost, demand theory, and cost theory as well as different approaches to cost accounting. The authors posit that cost accounting represents the results of previous outcomes and, as such, does not provide the information that managers need to make sound decisions moving forward. The authors examine the potential pitfalls that a manager may face when making decisions based on cost estimates and suggest how best to use economic theory to maximize a company's profits. In Chapter 6, Are You a Better Decision Maker . . . Yet? (6 pages), the authors posit that a manager's success depends on how well he or she applies economic theory in decision-making. They demonstrate how the innovative use of economic theory can result in higher profits by explaining how the CEO at Parker Hannifin Corporation used the concept of price elasticity to revise the company's pricing strategy and grow revenues by $500 million in five years. The authors build a case for their approach by reviewing the economic concepts covered in each chapter. They also provide practical questions for managers to ask about cost information, market competition, and financial analysis, as well as how to follow-up on the initial information and when to engage a consultant.

The case is about a city's water security and draws on the intense debate about the construction of a reservoir in a college town in Virginia in the wake of a record drought. The case highlights the role of public utilities in water provision, illustrates the different positions of various stakeholders, and raises the question of what the appropriate price for water is. It provides stylized facts of water use across sectors and rests on a basic analysis of present and future water demand as well as on an assessment of future water supply. This case is used in Darden's elective, "The Global Economics of Water." It would also work well in courses dealing with the environmental impacts of urban planning."

Everyone has an opinion about technology. Depending on whom you ask, it will either: a) liberate us from the drudgery of everyday life and enable the unimagined flourishing of human civilization; or b) take away our jobs and cause civilization as we know it to collapse. The author argues that this 'either-or' dualism misses the point, and shows that the real issue is this: we are in dire need of a new social compact that extends the advantages of our emergent knowledge economy to a much broader range of workers.

This case highlights the demand and supply factors that caused a sharp rise in onion prices during the period of December 2010 to January 2011. These factors ranged from natural demand and supply forces to manmade forces such as government price interventions in the form of a minimum export price and ceiling price, and a supply shortage that was artificially created by hoarders in anticipation of higher prices in the ensuing period. Government price interventions prevented price mechanisms from clearing the market. Hence, alternative clearing mechanisms such as maintenance of the surplus stock or rationing were used in the onion market. The cost of such alternative clearing mechanisms, however, falls on taxpayers. The case highlights the dilemma faced by policy makers and analysts: whether the government should intervene in the market in the short run by providing subsidies when prices are exorbitantly high, or incur heavy investment expenditures to bring about long-run stability in onion prices.

Durabuild Inc., a US-based, family-owned construction company with affiliates in France, wants to recapture the high growth levels that it enjoyed in France in the decades following World War II. The founder's grandson reflects on the economic factors that affected growth there and in the United States during that midcentury period and beyond, and he discusses with the current president (his father) whether the company should now consider expanding into China. This case introduces students to the Solow Model and how various economic factors affect productivity. In a related assignment, students are asked to explain why France grew so quickly and why growth slowed down and never fully caught up to that of the United States.