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The hallmark approach of this very successful market-leading text is its clear and concise treatment of international trade and finance theory illustrated with a wealth of the most up-to-date contemporary issues and cases. Carbaugh demonstrates the relevance of theory through real-world economic issues. Theoretical discussions are presented in both verbal and graphical terms, making the book highly accessible to students with little economics background. Its concise and flexible format makes it an ideal fit for most one-term courses.
Introduction 1 The International Economy Part One International Trade Relations 2 Foundations of Modern Trade Theory 3 International Equilibrium 4 Trade Model Extensions and Applications 5 Tariffs 6 Nontariff Trade Barriers 7 Trade Regulations and Industrial Policies 8 Trade Policies for the Developing Nations 9 Regional Trading Arrangements 10 International Factor Movements and Multinational Enterprises Part Two International Monetary Relations 11 The Balance of Payments 12 Foreign Exchange 13 Exchange-Rate Determination 14 Balance-of-Payments Adjustments Under Fixed Exchange Rates 15 Exchange-Rate Adjustments and the Balance of Payments 16 Exchange-Rate Systems 17 Macroeconomic Policy in an Open Economy 18 International Banking: Reserves, Debt, and Risk