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Cengage Advantage Books: International Economics (with InfoTrac)

by: Kreinin,Max

Cengage Advantage Books: International Economics (with InfoTrac)

by: Kreinin,Max

ISBN 13:
9780324259711
ISBN 10:
0324259719
Edition: 10th
Format: Paperback
Copyright: 09/23/2005
Publisher: South-Western College Pub

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Summary

Authoritative, balanced, and easy-to-read. INTERNATIONAL ECONOMICS: A POLICY APPROACH is the best international economics textbook because it's the perfect combination of theory, policy, and research. Whether you've taken only a one- or two-term undergraduate sequence in international economics or you're an MBA student, this book well help you succeed in the course.

World Trade and the National Economy

(14)

Definition

(1)

What Is Unique about International Economics?

(3)

International Transactions---An Empirical Glimpse

(2)

Foreign Trade in the National Economy

(4)

Aggregate Measures

(1)

Disaggregation

(2)

Qualitative Considerations

(1)

Summary

(1)

Forums for Trade and Monetary Issues

(2)

Summary

(1)

Important Concepts

(1)

Review Questions

(1)

Organization of This Book

(2)

PART I International Trade Relations

(166)

Introduction

(2)

Review Question

(1)

Why Nations Trade

(22)

The Principle of Comparative Advantage

(7)

The Gains from Trade

(4)

Demand Considerations

(3)

Comparative Opportunity Cost

(6)

Who Exports What?

(2)

The Limits to Mutually Beneficial Exchange

(3)

Examples from U.S. Trade

(1)

Absolute Advantage and Wage Rates

(2)

Summary of Policy Implications

(1)

Dynamic Gains from International Trade

(6)

Summary

(1)

Important Concepts

(1)

Review Questions

(2)

The Commodity Composition of Trade

(18)

The Factor Proportions Theory

(7)

Empirical Testing

(2)

Alternative Theories

(5)

An Emerging Consensus?

(1)

Economic Adjustment to Changing Circumstances

(5)

Summary

(1)

Important Concepts

(1)

Review Questions

(1)

Protection of Domestic Industries: The Tariff

(41)

Some Institutional Considerations

(3)

Export versus Import Duty

(1)

Protection versus Revenue

(1)

Types of Tariff

(2)

Economic Effects of the Tariff

(12)

Who Pays the Tariff?

(1)

Graphic Exposition

(3)

Domestic Effects

(4)

Effect of Real Income

(2)

Other Effects

(1)

Some Empirical Estimates

(2)

How Protective Is the Tariff?

(7)

Ad Valorem and Specific Duty

(1)

Nominal versus Effective Tariff Rates

(6)

Aggregation Problems

(1)

Arguments for Protection

(4)

Approaches to Free Trade

(10)

The International Approach

(1)

The Regional Approach

(5)

Summary

(2)

Important Concepts

(1)

Review Questions

(2)

Appendix 4--1

(3)

Effect of the tariff in the Large Country Case

(3)

Appendix 4--2

(2)

Economic Cost of the Tariff

(2)

Nontariff Barriers (NTBs) to Trade

(26)

Import Quotas

(6)

How Common Are Import Quotas?

(1)

Economic Effects of Quotas

(5)

Voluntary Export Restraints

104

(2)

International Commodity Agreements

106

(3)

International Cartels

109

(1)

Local Content Requirement

110

(1)

Border Tax Adjustments

110

(2)

Dumping

112

(1)

Export Subsidies

113

(4)

NTBs versus Tariffs

117

(1)

Strategic Trade Policy?

118

(6)

Summary

120

(2)

Important Concepts

122

(1)

Review Questions

123

(1)

U.S. Commercial Policy

124

(9)

The Reciprocal Trade Agreements Legislation

124

(2)

The 1958 Extension and the Safeguard Provisions

125

(1)

Trade-Adjustment Assistance

126

(1)

The Trade Expansion Act of 1962

126

(1)

The Trade Reform Act of 1974

127

(1)

The Trade and Competitiveness Act of 1988

128

(1)

Regional and Bilateral Relations

128

(1)

Trade Promotion Authority

129

(1)

The Political Economy of Protectionism

129

(1)

Industrial Policy?

130

(3)

Summary

131

(1)

Important Concepts

132

(1)

Review Questions

132

(1)

International and Regional Trade Organizations among Developed Countries

133

(17)

Regionalism

134

(1)

The European Union

135

(3)

Forerunners

135

(1)

Internal Restrictions

136

(1)

Agricultural Policy

137

(1)

Political Institutions

137

(1)

Special Trading Arrangements between the EU and Developing Countries

138

(1)

The European Free Trade Area Association

138

(1)

The U.S.--Canada Free Trade Agreement

139

(1)

NAFTA

140

(1)

The World Trade Organization (WTO)

140

(4)

Fundamental Principles

141

(1)

The Uruguay Round

142

(2)

The WTO and the Environment

144

(2)

Economic Reforms in Eastern Europe (Transition Economies)

146

(4)

Summary

148

(1)

Important Concepts

148

(1)

Review Questions

149

(1)

Trade and Development

150

(12)

Alternative Trade Approaches to Development

150

(3)

China and India

152

(1)

The U.N. Conference on Trade and Development

153

(3)

Demands Concerning Primary Products

153

(2)

Manufactured Products

155

(1)

The Generalized System of Preferences

156

(3)

The U.S. Scheme

157

(1)

The EU Scheme

158

(1)

The Japanese Scheme

158

(1)

Effect of the Tokyo and Uruguay Rounds on the GSP

159

(1)

Regional Integration among Developing Nations

159

(3)

Summary

160

(1)

Important Concepts

161

(1)

Review Questions

161

(1)

International Mobility of Productive Factors

162

(18)

Motives for Direct Investments Abroad

164

(3)

Cost Considerations

165

(2)

Marketing Considerations

167

(1)

Foreign Investment and Economic Welfare (Real Income)

167

(4)

World Welfare

167

(1)

Host Country

167

(2)

Source (Investing) Country

169

(2)

International Trade Theory and the Multinational Corporation

171

(2)

The Phenomenon of Transfer Pricing

171

(1)

The Commodity Composition of Trade

172

(1)

International Migration of Labor

173

(1)

Globalization and the Outsourcing Controversy

174

(6)

Summary

177

(1)

Important Concepts

178

(1)

Review Questions

178

(2)

PART II International Financial Relations

180

(172)

The Nature of Financial Relations

181

(2)

Review Questions

182

(1)

Statement of International Transactions

183

(15)

Main Items in the Statement of International Transactions

183

(8)

The Current Account

183

(4)

The Financial Account

187

(1)

Autonomous and Accommodating Items

188

(1)

Changes in Official Reserves

189

(1)

The Balance of Payments in the National Economy

190

(1)

Uses and Misuses of International Transactions Statistics

191

(7)

Long-Run Shifts in the Balance on Merchandise Trade

192

(1)

Placing Balance-of-Payments Considerations in Proper Perspective

192

(1)

Limitations of Balance-of-Payments Information

193

(1)

A Nation versus a State

193

(2)

Summary

195

(1)

Important Concepts

196

(1)

Review Questions

196

(2)

Market-Determined Exchange Rates

198

(23)

Demand and Supply of Foreign Currencies

199

(4)

Shifts in the Demand and Supply Curves

203

(8)

Relative Interest Rates

203

(1)

Relative Price Change

203

(6)

Expectations

209

(1)

Other Factors

209

(1)

Summary

209

(2)

The Foreign Exchange Market

211

(10)

Market Organization

211

(1)

The Forward Exchange Market

212

(4)

Speculation

216

(1)

Summary

217

(1)

Important Concepts

218

(1)

Review Questions

219

(2)

The International Currency System

221

(20)

Fixed Exchange Rates

221

(5)

History of Fixed Exchange Rates

225

(1)

The Contemporary International Currency System

226

(6)

Fluctuating Currencies

226

(2)

The Euro---A Currency of 12 Countries

228

(1)

Fixed Exchange Rates

229

(1)

Summary of Exchange Regimes

230

(1)

The Role of the U.S. Dollar

230

(2)

The Incompatible Trinity

232

(1)

Indices of Trade-Weighted (Effective) Exchange Rates

233

(2)

The International Monetary Fund (IMF)

235

(6)

Regular International Monetary Fund Procedures

235

(1)

Special Drawing Rights

236

(1)

Special Facilities

236

(1)

International Reserves

236

(1)

Summary

237

(2)

Important Concepts

239

(1)

Review Questions

239

(2)

Domestic Policies to Adjust the Balance of Payments

241

(25)

``Automatic'' Processes

241

(10)

The Monetary Mechanism

241

(4)

Direct Effect on Private Expenditures

245

(6)

Summary of the ``Automatic'' Balance-of-Payments Adjustment

251

(1)

Government Policy

252

(4)

Domestic Policy Measures and the Current Account

252

(2)

Effect on Direct Investment Capital

254

(1)

Effect on Other Capital Movements

255

(1)

Foreign Repercussions

256

(2)

The Balance of Payments in the Context of General Policy Objectives

258

(2)

Some Unanswered Questions

260

(6)

The Degree of Impact

260

(1)

Time Lags

261

(1)

Summary

262

(1)

Important Concepts

263

(1)

Review Questions

264

(2)

Effects of Exchange-Rate Adjustments on the Current Account and the Domestic Economy

266

(36)

Relative Price Effect

267

(16)

Effect on Dollar Outpayments

271

(2)

Effect on Dollar Inpayments

273

(4)

Outpayments and Inpayments Combined

277

(2)

Domestic Income Effect

279

(1)

Domestic Price Effect

280

(1)

Redistribution of Domestic Resources

281

(1)

Cost of Depreciation

282

(1)

Another View of Depreciation: The Absorption Approach

283

(2)

Summary of Policy Analysis

285

(7)

The Need for Policy Mixes

285

(1)

Effectiveness of Policy

286

(1)

Foreign Retaliation

287

(1)

What Governs Exchange Variations?

288

(1)

The Role of Fluctuating Exchange Rates

289

(3)

Some Unanswered Questions

292

(10)

The Degree of Impact

292

(4)

Time Path

296

(2)

Summary

298

(1)

Important Concepts

299

(1)

Review Questions

300

(2)

The Monetary Approach to the Balance of Payments (Optional)

302

(12)

The Underlying Cause of External Imbalances (under Fixed Exchange Rates)

303

(4)

Demand and Supply of Money

303

(1)

External Surplus

304

(1)

External Deficit

305

(1)

Role of Money

306

(1)

Monetary Policy

306

(1)

Policy Implications

307

(2)

Devaluation

307

(1)

Tariffs, Quotas, and Exchange Control

308

(1)

Economic Growth

308

(1)

Change in the Rate of Interest

308

(1)

Fluctuating Exchange Rates

309

(1)

Evaluation

310

(4)

Summary

311

(1)

Important Concepts

312

(1)

Review Questions

312

(2)

Alternative Exchange-Rate Regimens

314

(19)

Fixed versus Floating Exchange Rates

314

(8)

The Record of 1973-2005

318

(1)

Wider Bands and Crawling Pegs

319

(1)

Target Zones

320

(1)

Optimum Currency Areas

320

(2)

The Euro---A Currency of 12 Continental Countries

322

(2)

Exchange Control

324

(5)

Bilateral Clearing Agreements

329

(4)

Summary

330

(1)

Important Concepts

331

(1)

Review Questions

332

(1)

Historical Survey

333

(19)

The Gold Standard (1870-1914)

333

(1)

Fluctuating Exchange Rates and Currency Stabilization

333

(1)

The Devaluation Cycle (1930-1939)

334

(1)

Bretton Woods (July 1944)

334

(1)

European Reconstruction (1945-1958)

335

(1)

The Dollar Glut (1959-1970)

335

(1)

The Smithsonian Agreement

336

(1)

March 1973---The Collapse of Bretton Woods

337

(1)

The 1974--1975 World Recession and Its Aftermath

337

(1)

The Rise of the Dollar Exchange Rate, 1981--1985

338

(2)

The Dollar's Decline, 1985--1989

340

(1)

The 1990s

341

(1)

The LDC Debt Problem of the 1980s

341

(2)

The Mexican Currency Crisis of December 1994

343

(1)

The Asian Financial Crisis of 1997-1999

344

(2)

The New Century

346

(2)

Imbalances in the Global Economy in 2005

348

(4)

Summary

349

(1)

Important Concepts

350

(1)

Review Questions

350

(2)

Bibliography

352

(3)

Index

355

Amazon no longer offers textbook rentals. We do!

Cengage Advantage Books: International Economics (with InfoTrac)

Cengage Advantage Books: International Economics (with InfoTrac)

9780324259711

0324259719

Summary

Table of Contents

Supplemental Materials

Write a Review

Amazon no longer offers textbook rentals. We do!

Cengage Advantage Books: International Economics (with InfoTrac)

Cengage Advantage Books: International Economics (with InfoTrac)

9780324259711

0324259719

Summary

Table of Contents

Supplemental Materials

Write a Review

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