International Economics: Theory and Policy, 10/e
International Economics: Theory and Policy provides engaging, balanced coverage of the key concepts and practical applications of the two main topic areas of the discipline. For both international trade and international finance, an intuitive introduction to theory is followed by detailed coverage of policy applications. With this new tenth edition, the author team of Nobel Prize-winning economist Paul Krugman, renowned researcher Maurice Obstfeld, and Marc Melitz of Harvard University continues to set the standard for International Economics courses. The text's unified structure presents a balance of theoretical and practical coverage of both trade and finance.
Table of Content
2. World Trade: An Overview
3. Labor Productivity and Comparative Advantage: The Ricardian Model
4. Specific Factors and Income Distribution
5. Resources and Trade: The Heckscher-Ohlin Model
6. The Standard Trade Model
7. External Economies of Scale and the International Location of Production
8. Firms in the Global Economy: Export Decisions, Outsourcing, and Multinational Enterprises
9. The Instruments of Trade Policy
10. The Political Economy of Trade Policy
11. Trade Policy in Developing Countries
12. Controversies in Trade Policy
13. National Income Accounting and the Balance of Payments
14. Exchange Rates and the Foreign Exchange Market: An Asset Approach
15. Money, Interest Rates, and Exchange Rates
16. Price Levels and the Exchange Rate in the Long Run
17. Output and the Exchange Rate in the Short Run
18. Fixed Exchange Rates and Foreign Exchange Intervention
19. International Monetary Systems: An Historical Overview
20. Financial Globalization: Opportunity and Crisis
21. Optimum Currency Areas and the Euro
22. Developing Countries: Growth, Crisis, and Reform
• An integrated, empirical-based treatment 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 focused on the income-distribution effects of trade.
• An emphasis on the potential substitutability of international trade and international movements of factors of production, featuring an analysis of international borrowing and lending as intertemporal trade—the exchange of present consumption for future consumption.
• 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 expectations in a central role.
• A discussion of the international monetary experience that stresses the idea that different exchange rate systems lead to different policy coordination problems.