International Economics

0.0

International Economics: Theory and Policy is a proven approach in which each half of the book leads with an intuitive introduction to theory and follows with self-contained chapters to cover key policy applications. The Eighth Edition integrates the latest research, data, and policy in hot topics such as outsourcing, economic geography, trade and environment, financial derivatives, the sub prime crisis, and China’s exchange rate policies. The book is divided into trade and finance. Within each half, core theory chapters are followed by a series of application chapters that confront policy questions using the newest empirical work, data, and policy debates. Salient Features An integrated treatment and empirical evidence of the latest models of trade, such as the gravity, Ricardian, factor endowments, and imperfect competition models. A thorough discussion of the causes and effects of trade policy focuses on the income-distribution effects of trade. A unified model of open-economy macroeconomics that provides students with a cohesive approach to the theory, based on an asset-market approach to exchange rate determination with a central role for expectations. A discussion of the international monetary experience that stresses the idea that different exchange rate systems lead to different policy coordination problems. Learning Goals begin each chapter and list the essential concepts so students understand what they need to take away from each chapter. Case Studies illustrate theory using real-world applications and provide important historical context. Table Of Contents Introduction Part I: International Trade Theory World Trade: An Overview Labor Productivity and Comparative Advantage: The Ricardian Model Resources, Comparative Advantage, and Income Distribution The Standard Trade Model Economies of Scale, Imperfect Competition, and International Trade International Factor Movements Part II: International Trade Policy The Instruments of Trade Policy The Political Economy of Trade Policy Trade Policy in Developing Countries Controversies in Trade Policy Part III: Exchange Rates and Open-Economy Macroeconomics National Income Accounting and the Balance of Payments Exchange Rates and the Foreign Exchange Market: An Asset Approach Money, Interest Rates, and Exchange Rates Price Levels and the Exchange Rate in the Long Run Output and the Exchange Rate in the Short Run Fixed Exchange Rates and Foreign Exchange Intervention Part IV: International Macroeconomic Policy The International Monetary System, 1870–1973 Macroeconomic Policy and Coordination Under Floating Exchange Rates Optimum Currency Areas and the European Experience The Global Capital Market: Performance and Policy Problems Developing Countries: Growth, Crisis, and Reform