Customer Reviews

International Monetary Economics

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This book is a very useful text for an introductory international monetary economics class (first year graduates). It covers a good range of topics and while being good on intuition it conveys almost all basic messages with one work horse model. It is easy for students to see how a change in assumptions, expressed by little modifications of the basic model, leads to very different results. Maybe the sticky price model (Dornbusch overshooting) could be explained a little more clearly. As it is introductory, it does not cover later or latest developments (sunspots, portfolio asset model, bubbles etc.). Moreover, being an American text it does not cover interesting developments and policy issues such as European Monetary Union or international currency crises. But you can't cover everything! I use the book for my introductory class together with Gaertner, Macroeconomics under flexible exchange rates,2000, and other material. Students like it.

Throughout his book, Bennett McCallum uses obscure language and inconsistent notation. Basic concepts are not presented in a clear and understandable manner. This entire book reads like an academic paper not a textbook.

I am in Professor McCallum's course on International Money & Finance and as a student who must read this book, I find it very difficult to read. If that is not enough, there are a significant amount of typographical errors.

Lots of typos and very difficult to understand. Do not recommend buying