Applied Economics in Globalised Economies

“The book raises for students a broad range of important economic topics both current and in the past. It aims to have students become aware of the thought about these topics and challenges them to utilize relevant quantitative methods to perform analysis of such topics.” —Adrian Pagan, University of Sydney, Australia

“The book offers a comprehensive and insightful exploration of the forces shaping our intercon-nected world, combining rigorous theoretical foundations with real-world examples. This textbook is an essential resource for students and practitioners seeking to understand how innovation and sustainability reshape global economy and create new opportunities across countries.” —Xiaolan Fu, University of Oxford, UK

“This is an innovative and refreshing book that will, I think, engage students enthusiastically in its exposition of applied economic policy across a wide range of areas, from growth and business cycles to healthcare and the environment. The treatment of each topic is neatly divided into a non-technical intuitive explanation of the main elements and a technical advanced explanation of relevant theoretical and empirical methods. Throughout these parts the topics are embedded in thought about all, not just advanced, economies by treating each topic in the context of globalisation and the world economy.” —Patrick Minford (CBE), Cardiff University, UK

“The textbook bridges economic theory and practical insights, providing readers with a thorough understanding of globalization’s historical and contemporary impacts. It also provides a cutting-edge perspective on how digitalization and sustainability reshape globalization and create new opportunities across economies.” —Xi Chen, Stern School of Business, New York University, US

“This book is a winner! Foreman-Peck and Zhou lift a trick from Alfred Marshall’s very first textbook, Principles of Economics. Each chapter begins with an outline of key concepts and charac-teristics – in plain English – of an economic phenomenon, such as globalization, and it crystalizes the subject matter using current examples and descriptive statistics. New learners – and especially those majoring in business or law, for example – will find this refreshingly comprehensible and it will entice them to go deeper. The second part of each chapter offers a simple exposition of a standard model, such as the gravity model of trade, together with empirical examples of how these models are used in practice. This will be sufficient for many readers but can also provide a valuable springboard into more advanced, specialized courses for economics students.” —Liam Brunt, Norwegian School of Economics, Norway