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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.
Table of Contents
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