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The updated edition of this widely-used textbook is primarily intended for postgraduate students of management though it can be used as good reference by students of BBA courses. Its student-friendly format, detailed coverage of classic and timely topics, and extensive use of case studies make it widely adaptable for different level courses, as well as for educators who prefer either a case study or lecture approach. This book focuses on such topics as foreign exchange, international trade policy, and economic development which introduces students to techniques for analyzing national economies that are not covered in many competing texts. Ethical and environmental issues are also covered in detail, and all case studies, tables and figures have been thoroughly revised and updated. Each chapter includes a short case study, while longer, more complex case studies conclude the text. Each chapter also features learning objectives, discussion questions, and references Table of Contents Preface Part I: Scope of International Business And The Multinational Corporation 1. An Introduction to International Business and Multinational Corporations 2. The Nature of International Business Part II: Institutional Framework And Economic Theories 3. Theories of Trade and Economic Development 4. International Monetary System and the Balance of Payments 5. Foreign Exchange Markets 6. Supranational Organizations and International Institutions Part III: Environmental Constraints In International Business 7. Analyzing National Economies 8. International Law 9. Sociocultural Factors 10. Foreign Investment: Researching Risk Part IV: Functional Operations In International Business 11. International Marketing 12. International Finance 13. International Accounting 14. International Taxation 15. International Staffing and Labor Issues 16. Managing Operations and Technology Part V: Social And Ethical Issues And The Future of International Business 17. Ethical Concerns: Multinationals and the Earth’s Environment 18. Future Issues in International Business Part VI: Case Studies 1. The Global Tire Industry and Michelin in 2004 2. The European Non-Life Insurance Industry and AXA in 2001 3. The Battle of the Smart Cards in the Netherlands in 2002 4. Bang & Olufsen and the Electronics Entertainment Industry in 2003 5. ABX 6. Arcelor and the Global Steel Industry Glossary Index