Newly Edited Introduction to International Finance

Author: Yu Hongliang, Lu Kaixuan, Wang Xugu, Xi Yuanyuan, Chen Bing
Publisher:
Publish Date: 2006-10-01
Features: This is a textbook written for undergraduate students, focusing on the market forces and policy tools that allow an economic entity to achieve external equilibrium while maintaining internal and international equilibrium under multiple currencies as the primary constraints in an open economy. Based on over a decade of teaching experience in international finance and widely incorporating the strengths of similar excellent textbooks both domestically and internationally, we have divided the fundamental knowledge and main models of international finance into five basic modules, totaling fourteen chapters:
The first module, consisting of Chapters 1 to 4, primarily discusses how international economic and financial links, as well as connections between different currencies, occur between countries; the fundamental issues an open economy faces under multiple currencies, along with general models or methods for analyzing these issues.
The second module, consisting of Chapters 2 to 7, primarily studies the determination of balance of payments and exchange rate equilibrium.
The third module, consisting of Chapters 8 and 9, primarily discusses the impact of different international monetary systems on exchange rate fluctuations.
The fourth module, consisting of Chapters 10 and 11, primarily analyzes how a country can achieve its balance of payments equilibrium under multiple currencies while simultaneously achieving internal and external equilibrium.
The fifth module, consisting of Chapters 12 to 14, primarily considers a fundamental question from a global perspective: how international policy coordination can help maintain a stable and orderly world economy and exchange rates.
Of the five modules mentioned above, following the inherent logic and historical evolution of the international finance system, they unfold progressively from easy to difficult: The first module essentially serves as an introduction to the entire field of international finance. The second to fourth modules constitute the core of international finance: the determination of exchange rates and balance of payments. The fifth module represents a logical conclusion to the discussions in the preceding chapters of international finance. This book also aims to provide foundational knowledge and basic methods for students further studying the discipline and professionals seeking to engage in international finance practice.