Maurice Obstfeld is the Class of 1958 Professor of Economics at UC Berkeley. He joined Berkeley in 1989 as a professor, following appointments at Columbia (1979-1986) and the University of Pennsylvania (1986-1989). He was also a visiting professor at Harvard between 1989 and 1991. In 2014-2015 he was a Member of President Obama’s Council of Economic Advisers, and from 2015-2018 he served as chief economist at the International Monetary Fund. Before that, he served as an honorary adviser to the Bank of Japan’s Institute of Monetary and Economic Studies. Among Professor Obstfeld's honors are the Frank Graham Lecture at Princeton, the inaugural Mundell-Fleming Lecture of the International Monetary Fund, the Bernhard Harms Prize and Lecture of the Kiel Institute for World Economy, the L. K. Jha Memorial Lecture at the Reserve Bank of India, and the Richard T. Ely Lecture of the American Economic Association. Professor Obstfeld is a Fellow of the Econometric Society and the American Academy of Arts and Sciences. He is active as a research fellow of the Centre for Economic Policy Research and a research associate of the National Bureau of Economic Research. Most recently, he has joined the Peterson Institute for International Economics in Washington, DC, as a nonresident senior fellow.

Marc Melitz is the David A. Wells Professor of Political Economy at Harvard University. He holds a BA from Haverford College (1989), an MSBA from the Robert Smith School of Business (1992), and a PhD from the University of Michigan (2000). He is a fellow of the Econometric Society and is affiliated with the National Bureau of Economic Research (NBER), the Centre for Economic Policy Research (CEPR), CESifo, and the Kiel Institute for the World Economy. His broad research interests are in international trade and investment. More specifically, he studies producer-level responses to globalization and their implications for aggregate trade and investment patterns. His research has been funded by the Sloan Foundation and by the NSF.

PART ONE: INTERNATIONAL TRADE THEORY
2. Word Trade: An Overview
3. Labor Productivity and Comparative Advantage: The Ricardian Model
4. Specific Factors and Income Distribution
5. Resources and Trade: The Heckscher-Ohlin Model
6. The Standard Trade Model
7. External Economies of Scale and the International Location of Production
8. Firms in the Global Economy: Export and Foreign Sourcing Decisions and Multinational Enterprises

PART TWO: INTERNATIONAL TRADE POLICY
9. The Instruments of Trade Policy
10. The Political Economy of Trade Policy
11. Trade Policy in Developing Countries
12. Controversies in Trade Policy

PART THREE: EXCHANGE RATES AND OPEN-ECONOMY MACROECONOMICS
13. National Income Accounting and the Balance of Payments
14. Exchange Rates and the Foreign Exchange Market: An Asset Approach
15. Money, Interest Rates, and Exchange Rates
16. Price Levels and the Exchange Rate in the Long Run
17. Output and the Exchange Rate in the Short Run
18. Fixed Exchange Rates and Foreign Exchange Intervention

PART FOUR: INTERNATIONAL MACROECONOMIC POLICY
19. International Monetary Systems: A Historical Overview
20. Financial Globalization: Opportunity and Crisis
21. Optimum Currency Areas and the Euro
22. Developing Countries: Growth, Crisis, and Reform

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