Introduction to the Engineering Profession or The Asian Financial Crisis

Introduction to the Engineering Profession

Author: M David Burghardt

factors such as the importance of engineering in developing a better society, the history of technological change, the ethical problems encountered in the profession, and future challenges facing engineers. Discussions of the various fields of engineering and career possibilities are featured and sample design problems are presented to introduce students to problem-solving methodologies required of engineers. The techniques of analysis and design are emphasized through elementary problems in a variety of engineering fields. A unique focus on engineers as integral to the development of our technological society sets this book apart from others in the field. The second edition features a separate chapter on the design process, remarks from engineers, an appendix on algebraic problem solving, and coverage of models, industrial practice, and concurrent engineering.

Booknews

An introduction to the field for beginning engineering students, offering an historical perspective and information on technical careers in disciplines such as automotive, chemical, ceramic, materials, and petroleum engineering. Emphasizes the importance of social and political awareness and ethics within the field, and discusses written and oral communication, statistics, engineering design, and computer applications. This second edition includes an appendix on algebraic and trigonometric problem solving. Annotation c. Book News, Inc., Portland, OR (booknews.com)

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The Asian Financial Crisis: Causes, Cures and Systemic Implications

Author: Morris Goldstein

The turmoil that has rocked Asian markets since the middle of 1997, and that is now having such deep effects on the economies in the region, is the third major currency crisis of the 1990s. This study explains how the Asian crisis arose and spread. It then outlines the corrective policy measures that could help end the crisis, and the shortcomings that have been revealed in the international financial system that require reform to reduce the chances of a recurrence.

In analyzing the origins of the crisis, the author emphasizes three interrelated sets of factors: financial sector weaknesses in Asian emerging economies along with easy global liquidity conditions; mounting concerns about external sector problems in these countries; and contagion of financial pressures from Thailand (both around and beyond the region).

The discussion of policy initiatives to help end the crisis focuses, inter alia, on: restructuring and reform of financial sectors and prudential oversight in Asia itself; on fiscal policies and measures to deal with the bad loan problem in Japan; on exchange rate policy; and on the design and effectiveness of IMF-led official rescue packages.

What People Are Saying

Frederic S. Mishkin
A first-rate piece of work...an excellent and comprehensive discussion of why the Asian crisis occurred and what would be the appropriate policy responses.
-- Barton Hepburn Professor of Economics, Graduate School of Business, Columbia University

Table of Contents:

	Preface	vii
	Acknowledgments	xi
1	Introduction	1
2	Origins of the Crisis	7
	Financial-Sector Weaknesses	7
	External-Sector Problems	14
	Contagion	17
3	How to Fix It	23
	Restructuring and Reform of Financial Sectors and Prudential Oversight in the ASEAN-4 Economies and South Korea	23
	Exchange Rate Policies in Asia and Trade Policies in the G-7	26
	Japan's Role	28
	China's Role	30
	IMF Rescue Packages	31
4	Halifax II Reforms	45
	Moral Hazard and Debt Rescheduling	46
	Prudential/Supervisory Standards	53
	Transparency and Disclosure in International Financial Markets	57
	IMF Surveillance	59
	Risk Management in Global Financial Institutions	62
5	Lessons of the Asian Crisis and Concluding Remarks	65
Appendix	List of Core Principles for Effective Banking Supervision	69
	References	73