9780073523026

This classic text has sold well for a half century because it covers all the conventional areas of international economics in an easy-to-understand manner. The 13th edition continues to provide the best blend of events and analysis, so that readers can build their abilities to understand global economic developments and to evaluate proposals for changes in economic policies. The book is informed by current events and by the latest in applied international research. It combines rigorous economic analysis with attention to the issues of economic policy that are alive and important today. This concise and readable text uses economic terminology when it enhances the analysis, but avoids jargon for jargon's sake. Like earlier editions, it also places international economics events within a historical framework. The overall treatment continues to be intuitive rather than mathematical and is strongly oriented towards policy.

1. International Economics Is Different

Part I: The Theory of International Trade

2. The Basic Theory Using Demand and Supply

3. Why Everybody Trades: Comparative Advantage

4. Trade: Factor Availability and Factor Proportions are Key

5. Who Gains and Who Loses from Trade?

6. Alternative Theories of Trade

7. Growth and Trade

Part II: Trade Policy

8. Analysis of a Tariff

9. Nontariff Barriers to Imports

10. Arguments For and Against Protection

11. Pushing Exports

12. Trade Blocs and Trade Blocks

13. Trade and the Environment

14. Trade Policies for Developing Countries

15. Multinationals and Migration: International Factor Movements

Part III: Understanding Foreign Exchange

16: Payments Among Nations

17. The Foreign Exchange Market

18. Forward Exchange and International Financial Investment

19. What Determines Exchange Rates

20. Government Policies Toward the Foreign Exchange Market

21. International Lending and Financial Crises

Part IV: Macro Policies for Open Economies

22. How Does the Open Macroeconomy Work?

23. Internal and External Balance with Fixed Exchange Rates

24. Floating Exchange Rates and Internal Balance

25. National and Global Choices: Floating Rates and the Alternatives

Appendix A: The Web and the Library: International Numbers and Other Information

Appendix B: Deriving Production-Possibility Curves

Appendix C: Offer Curves

Appendix D: The Nationally Optimal Tariff

Appendix E: Many Parities at Once

Appendix F: Aggregate Demand and Aggregate Supply in the Open Economy

Appendix G: Devaluation and the Current Account

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International Economics