Comprehensiveness rating: 4 read less
The text is fairly comprehensive. It covers all the major areas of international finance and uses standard economic concepts and models. I think students would enjoy the chapter discussing the welfare effects of trade imbalances, which is well done with clear examples. Those who are interested in details of the foreign exchange market itself will have to look elsewhere. While interest rate parity is given a chapter, the concept of covered interest parity is only mentioned in an exercise. I was surprised that the impossible trinity or trilemma was not mentioned even though the text devoted significant attention to the limits that a fixed exchange rate regime places on monetary autonomy. The text itself does not have a table of contents, but one is available in the bookmarks of the pdf file. The text does not have a glossary, but the pdf file is easy to search. I did not see any additional instructor resources, such as an instructor's manual, a test bank, or lecture slides.
Accuracy rating: 5
The content is generally accurate aside from minor typos and provides a balanced, unbiased approach to the major issues.
Relevance/Longevity rating: 4
The text is focused primarily on the major economic concepts, which gives it longevity. The data used in the text only go up to around 2008. In most cases, however, there are working links to the data sources in the pdf file that would allow a reader to obtain updated data without too much hassle. It would be nice to have more coverage of recent issues to give the text greater relevance to students.
Clarity rating: 5
The text is clear and well written with many helpful examples.
Consistency rating: 5
The text is internally consistent. The macroeconomic approach developed and applied is the AA-DD model. The text gradually builds up to that model and applies it consistently.
Modularity rating: 5
The chapters are all divided into short sections, which makes it easy to choose among topics within a chapter. Many of the chapters are building up to the AA-DD model, which is then applied for a number of chapters, so it would not be a good idea to skip any of the major building blocks altogether.
Organization/Structure/Flow rating: 5
The topics are laid out in a natural way and flow well together.
Interface rating: 1
My major issue with the book is the interface. The text, tables, and figures in the pdf file are not typeset in a very professional manner. I found this to be a significant distraction and I think it would really turn students off. The graphical analyses and equations in a text like this are especially important, but they are not clearly presented here. The equations are either not properly typeset or are blurry. This could be a major roadblock for students, many of whom are uncomfortable with equations. The diagrams leave a lot to be desired and I think students would have trouble following the 3-D diagrams of the AA-DD model.
Grammatical Errors rating: 5
There are no major grammatical problems with the text.
Cultural Relevance rating: 5
The text is not culturally insensitive or offensive in any way.
I think the content itself is of high quality, but I would hesitate to assign this book to students because of the serious issues with the interface.