PART I
INSTRUCTOR’S MANUAL
CHAPTER 1
THE INTERNATIONAL ECONOMY
CHAPTER OVERVIEW
This chapter introduces students to the international economy. The first part of the chapter emphasizes the high degree of economic interdependence that characterizes today’s economies. Economic interdependence includes international trade and international finance.
The chapter also focuses on the United States as an open economy. Data are provided that show U.S. exports as a percent of gross domestic product and