Economic Policy in the Age of GlobalisationCambridge University Press, 2005 M02 17 - 509 pages In the age of globalisation both domestic and foreign economic policies play an important role in determining firms' strategies. Understanding such policies is an essential part of the cultural background of managers at all levels of a firm. At the same time, firms' choices have a greater impact on economic policymaking in a global economy, as the range of alternatives open to them expands. In this textbook, Professor Acocella analyses both sides of this relationship. Special emphasis is placed on current issues: in policymaking on the basis of social choice principles and the normative and positive theory of economic policy; and issues concerning the establishment of international public institutions that can match the global reach of the private institutions (markets and firms) that generate many of today's economic challenges. Broad in scope, this book is aimed at students who have completed an introductory course in both micro and macroeconomics. |
Contents
2 | 21 |
second best | 35 |
macroeconomic aspects | 45 |
The normative theory of economic policy 88889 | 89 |
elements of a positive theory of economic policy | 116 |
Property rights corporate governance and public enterprises | 139 |
Competition policies policies for externalities and public goods | 158 |
Industrial and regional policies redistributive policies | 185 |
Incomes and price policies | 308 |
Balanceofpayments policies | 321 |
free trade and protectionism | 343 |
Monetary systems and exchange rate regimes | 359 |
Development and trade organisations | 379 |
The European Union | 392 |
the globalisation | 421 |
The challenges of globalisation for public policies | 437 |
Social choice and costbenefit analysis | 209 |
Macroeconomic schemes of analysis in an open economy | 231 |
Macroeconomic objectives and monetary policy | 249 |
Macroeconomic objectives and fiscal policy | 284 |
465 | |
492 | |
498 | |
Common terms and phrases
agents aggregate demand allocative efficiency analysis assume balance of payments behaviour benefits capital movements cause cent central bank chapter competition considered countries curve debt deficit demand deposits depreciation diseconomies domestic economic policy effects ensure equal equilibrium European example exchange rate expansionary expenditure exports external factors financial intermediaries firms fiscal policy fixed exchange rates foreign currency function give rise given globalisation government intervention growth impact important incentive incomes policy increase individual industrial policy inflation institutions instruments interest rate investment labour limit macroeconomic market failures measures monetary base monetary policy money supply objectives operation output Pareto Pareto efficiency Pareto optimality perfect competition Phillips curve policymakers position possible privatisation problem production profit public enterprises ratio redistribution reduce reference regulation role sector social specific targets theory trade transactions unemployment United variables wage welfare