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Hubbard builds his text upon the idea that students must develop an economic understanding for organizing concepts and facts, evaluate current and historical events using economic analysis, and use economic principles and tools to predict future outcomes and changes in the economic system.
Hubbard's modern approach employs economic principles to illustrate the evolution and conduct of financial markets and institutions, drawing a full picture of the relationship between economic performance and the international developments within these markets and institutions.
The Fifth Edition provides a timely perspective on key issues—corporate accounting scandals, development in the international financial system, the post 911 recession, and more—using relevant new data and up-to-the-minute real-world applications, while presenting it all in a clear, concise style.
Accessible presentation of theory with a contemporary focus on current events and recent research.
Integration of international topics throughout.
Pedagogy—a variety of pedagogical features with an applied emphasis.
Consider This—Using current events or research, the author sparks interesting classroom discussion through these timely boxed discussions. New discussion include the impact of 9/11 on stock prices, the trade offs presented by the expansions of deposit insurance around the globe, and whether currency boards are likely to be successful in Argentina.
Other Times, Other Places—These boxes extend the chapter's economic approach to historical events or developments in other countries.
Using the News—Excerpts present data from the WSJ and other sources.
Case Studies—Chapters conclude with detailed descriptions of recent events that extend the theory in the chapter. Included are new discussions of bubble-like tendencies of the boom & bust of the NASDAQ traded technology stocks, corporate governance initiatives in the wake of the 2001-2002 accounting scandals, including the Sarbanes-Oxley Act of 2002, and the U.S. debate over inflation targeting.
Moving from Theory to Practice—Placed at the end of each chapter, this feature consists of an actual news article, followed by a section that uses the chapter's principles to evaluate the article. These are all NEW in this edition and examine issues such as the boom in mortgage financing fueled by 40-year lows in interest rates, the debate over the notion that higher deficits mean higher interest rates, and the role of the viable banking firms in rebuilding Iraq.
Author: R. Glenn Hubbard
Published: May 2004