International Economics

Includes index

The world of international economics; early trade theories; the classical world of David Ricardo and comparative advantage; extensions and tests of the classical model of trade; introduction to neoclassical trade theory; gains from trade in neoclassical theory; offer curves and the terms of trade; the basis for trade; empirical tests of the factor endowments approach; post Heckscher-Ohlin theories of trade and intra-industry trade; economic growth and international trade; international factor movements; the instruments of trade policy; the impact of trade policies; traditional arguments for protectionism; strategic approaches to trade policy intervention; political economy and recent US trade policy; economic integration; international trade and the developing countries; the balance of payments accounts; the foreign exchange market; international financial markets and instruments; the monetary and portfolio balance approaches to external balance; price adjustments and balance of payments disequilibrium; national income and the current account; economic policy in the open economy - fixed exchange rates; economic policy in the open economy - flexible exchange rates; prices and output in the open economy - aggregate supply and demand; fixed or flexible exchange rates?; the international monetary system.

This fourth edition has been simplified in its presentation, particularly with regard to Dornbusch-Fischer-Samuelson model, Krugman trade model, and empirical work on the monetary and portfolio approaches to external balance, to help with learning important concepts in international economics.