Steve Suranovic

Ph.D. from Cornell University

U.S.-China Economic Relations, Global Economic Governance, International Trade

Books

A Moderate Compromise: Economic Policy Choice in an Era of Globalization

New York: Palgrave Macmillan, 2010.

Looking at all sides of the globalization debate, Suranovic analyzes how international economic policy is made and how it has become so controversial. He offers a solution to the debate between free trade/unregulated markets and the push for greater government involvement that is consistent with both economic efficiency and social justice.

International Trade: Theory and Policy

Flat World Knowledge, 2010.

International Trade: Theory and Policy is built on Steve Suranovic’s belief that to understand the international economy, students need to learn how economic models are applied to real world problems. It is true what they say, that “economists do it with models.” That’s because economic models provide insights about the world that are simply not obtainable solely by discussion of the issues. International Trade: Theory and Policy presents a variety of international trade models including the Ricardian model, the Heckscher-Ohlin model, and the monopolistic competition model. It includes trade policy analysis in both perfectly competitive and imperfectly competitive markets. The text also addresses current issues such as free trade area formation and administered protection policies. The models are developed, not by employing advanced mathematics, but rather by walking students through a detailed description of how a model’s assumptions influence its conclusions. But more importantly, each model and theory is connected to real world policy issues. The main purpose of the text is to provide a thorough grounding in the arguments concerning the age-old debate about free trade versus protectionism.

International Finance: Theory and Policy

Flat World Knowledge, 2010.

International Finance Theory and Policy is built on Steve Suranovic’s belief that to understand the international economy, students need to learn how economic models are applied to real world problems. It is true what they say, that “economists do it with models.” That’s because economic models provide insights about the world that are simply not obtainable solely by discussion of the issues.

International Finance Theory and Policy develops a unified model of the international macroeconomy. The text provides detailed descriptions of major macroeconomic variables, covers the interest rate parity and purchasing power parity theories of exchange rate determination, takes an exhaustive look at the pros and cons of trade imbalances and presents the well-known AA-DD model to explore the effects of fiscal and monetary policy under both fixed and flexible exchange rates.

The models are developed, not by employing advanced mathematics, but rather by walking students through a detailed description of how a model’s assumptions influence its conclusions. But more importantly, each model and theory is connected to real world policy issues.

International Economics:Theory and Policy

Flat World Knowledge, 2010.

International Economics: Theory and Policy is built on Steve Suranovic’s belief that students need to learn the theory and models to understand how economics works and how economists understand the world. And, that these ideas are accessible to most students if they are explained thoroughly.

So, if you are looking for an International Economics text that will prepare your PhD students while promoting serious comprehension for the non-economics major, Steve Suranovic’s International Economics: Theory and Policy is for you.

International Economics: Theory and Policy presents numerous models in some detail; not by employing advanced mathematics, but rather by walking students through a detailed description of how a model’s assumptions influence its conclusions. Then, students learn how the models connect with the real world.

Steve’s book covers positive economics to help answer the normative questions; for example, what should a country do about trade policy, or about exchange rate policy? The results from models give students insights that help us answer these questions. Thus, this text strives to explain why each model is interesting by connecting its results to some aspect of a current policy issue.

This text eliminates some needlessly difficult material while adding and elaborating on other principles. For example, the development of the relative supply/demand structure, or the presentation of offer curves, are omitted as to not go too deeply into topics that tend to confuse many students at this level.

Steve developed new approaches in this text including a simple way to present the Jones’ magnification effects, a systematic method to teach the theory of the second best, and a unique description of valid reasons to worry about trade deficits. These new approaches help students learn the concepts and models and derive conclusions from them.

If you like to take a comprehensive look at trade policies, be sure to check out the chapter on Trade Policy (7). It provides a comprehensive look at many more trade policies than are found in many of the printed textbooks on the market today.

Working Papers

Econ 1011 Principles of Mathematics for Economics

Econ 2180 Survey of International Economics

Econ 2181 International Trade Theory and Policy

Econ 6280 Survey of International Economics

Econ 6283 Survey of International Trade Theory and Policy

Econ 6284 Survey of International Macroeconomics and Finance Theory and Policy