International Business Theory and Practice

The new and updated edition of this widely used text is equally useful for undergraduate and graduate students of international business. Its student-friendly format, detailed coverage of classic and timely topics, and extensive use of case studies make it widely adaptable for different level courses, as well as for educators who prefer either a case study or lecture approach. This edition features new coverage of the Asian financial crisis and the European Union. Its treatment of such topics as foreign exchange, international trade policy, and economic development introduces students to techniques for analysing national economies that are not covered in many competing texts. Ethical and environmental issues are also covered in detail, and all case studies, tables, and figures have been thoroughly revised and updated.Each chapter includes a short case study, while longer, more complex case studies conclude the text. Each chapter also features learning objectives, discussion questions, and references. An online instructor's guide that includes PowerPoints with end-of-chapter answers and maps is available to instructors who adopt the text.

1. An Introduction to International Business and Multinational Corporations Recent Trends in World Trade Discussion Questions Bibliography Mini-Case: Transworld Minerals, Inc. 2. The Nature of International Business Domestic Versus International Business Methods of Going International Recent Trend Patterns and Changes in Global Trade Government Involvement in Trade Restrictions and Incentives Regional Trade Groups and Cartels Non-tariff Barriers to Merchandise Trade Summary Discussion Questions Bibliography Mini-Case: Electronics International, Ltd. 3. Theories of Trade and Economic Development Introduction to International Trade Theories More Recent Theories Modern Theories Theories of Economic Development The Global Continuum: Where Nations Fall Today Patterns of World Development Summary Discussion Questions Bibliography Mini-Case: Euromanage, Inc. 4. International Monetary System and Balance of Payments International Monetary Terminology A Brief History of the International Monetary System The International Monetary Fund (IMF) Forms of IMF Assistance IMF Conditionality Special Drawing Rights Difficulties in the Bretton Woods System The Floating Rate Era: 1973 to the Present European Monetary System Difficulties in the Floating Rate Era Issues for Reform Summary Discussion Questions Bibliography Appendix: Balance of Payments Appendix Discussion Questions Appendix Bibliography Mini-Case: Global Bank Corporation Mini-Case: Scrinton Technologies 5. Foreign Exchange Markets Background The Structure of the Foreign Exchange (FX) Markets Location of Foreign Exchange Markets Market Volumes Uses of the Foreign Exchange Market Types of Exposure in Foreign Exchange Markets Types of Foreign Exchange Markets Foreign Exchange Rates Triangular Arbitrage Covered Interest Arbitrage Currency Futures Markets Foreign Currency Options Forecasting Foreign Exchange Rates Special Accounting Problems Special Issues and Problems in International Taxation Summary Discussion Questions Bibliography Mini-Case: Skytrack Instrumentation Mini-Case: Chemtech, Inc. 6. Supranational Organizations and International Business Background General Agreement on Tariffs and Trade (GATT) Financial Organizations Summary Discussion Questions Bibliography Mini-Case: Structural Adjustments in Masawa 7. Analyzing National Economies The Purpose and Methodology of Country Analysis Preliminary Economic Indicators Market Demand Forecasting Areas of Research Methods of Estimating Market Size and Share Designing Initial Market Strategy Summary Discussion Questions Bibliography Appendix: A Step By Step Approach to Market Research Mini-Case: The Republic of Mazuwa 8. International Law and Global Orientations Public and Private Law Different Legal Systems International Treaties Framework Legal Concepts Relating To International Business Areas of Concern to Multinational Corporations Intellectual and Industrial Property Rights Operational Concerns of Multinational Corporations Resolving Business Conflicts Summary Discussion Questions Bibliography Mini-Case: Compu-Soft Systems, Inc. 9. Sociocultural Factors Sociocultural Factors and International Business Society, Culture, and Sociocultural Forces Elements of Culture Other Theories of Culture Management of Cultural Change Summary Discussion Questions Bibliography Mini-Case: Delis Foods Corporation Mini-Case: Air America 10. Foreign Investment: Researching Risk Why Invest Abroad? Assessing Political Risk Types of Host National Control Assessing the Risk Managing Risk Summary Discussion Questions Bibliography Mini-Case: Amalgamated Polymers, Inc. 11. Ethical Questions: Multinationals and Sustainability Emerging Environmental Concerns Social Responsibility of Business Major Environmental Issues MNC Responses MNC Opportunities Ethical Issues are Now Center Stage Summary Discussion Questions Bibliography Mini-Case: Milford Processes, Inc. Mini-Case: Alapco Chemicals, Ltd. 12. Future Issues in International Business Letters of Credit in International Trade Why Study the Future? Future Trends Affecting International Business Impact of Trends on MNCs Summary Discussion Questions Bibliography Mini-Case: Remagen Brothers, Ltd.