International Economics / Edition 11

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Overview

Salvatore’s International Economics provides information about fundamental institutions and relationships that affect quality of life, and provides a framework for thinking through and understanding the process of decision making. Furthermore, the text is designed as a primary text for an introduction to basic economics or principles of economics and offers a balanced presentation of macroeconomics and microeconomics.

  • A must-have for business professionals, this book presents a comprehensive, up-to-date, and clear exposition of the theory and principles of international economics.
  • Provides information about fundamental institutions and relationships that affect quality of life, and provides a framework for thinking through and understanding the process of decision making.
  • Designed as a primary text for an introduction to basic economics or principles of economics and offers a balanced presentation of macroeconomics and microeconomics.
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Editorial Reviews

Booknews
The sixth edition of an excellent and widely used textbook presents a current and clear exposition of the theory and principles of international economics. New coverage includes an extensive discussion and analysis of the effect of the Uruguay Round, NAFTA, and the expansion of the EU; a new chapter examining the modern financial theories of exchange rate determination; and new sections and cases in trade theory and policy, and in international finance. Annotation c. by Book News, Inc., Portland, Or.
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Product Details

  • ISBN-13: 9781118177938
  • Publisher: Wiley, John & Sons, Incorporated
  • Publication date: 1/4/2013
  • Edition description: New Edition
  • Edition number: 11
  • Pages: 787
  • Sales rank: 744,117
  • Product dimensions: 7.40 (w) x 9.30 (h) x 1.30 (d)

Meet the Author

Dominick Salvatore, Fordham University
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Table of Contents

Preface v

1 Introduction 1

Part 1 International Trade Theory

2 The Law of Comparative Advantage 31

3 The Standard Theory of International Trade 57

4 Demand and Supply, Offer Curves, and the Terms of Trade 85

5 Factor Endowments and the Heckscher–Ohlin Theory 109

6 Economies of Scale, Imperfect Competition, and International Trade 157

7 Economic Growth and International Trade 189

Part 2 International Trade Policy

8 Trade Restrictions: Tariffs 221

9 Nontariff Trade Barriers and the New Protectionism 257

10 Economic Integration: Customs Unions and Free Trade Areas 301

11 International Trade and Economic Development 331

12 International Resource Movements and Multinational Corporations 367

Part 3 The Balance of Payments, Foreign Exchange Markets, and Exchange Rates

13 Balance of Payments 397

14 Foreign Exchange Markets and Exchange Rates 423

15 Exchange Rate Determination 463

Part 4 Open-Economy Macroeconomics and the International Monetary System

16 The Price Adjustment Mechanism with Flexible and Fixed Exchange Rates 507

17 The Income Adjustment Mechanism and Synthesis of Automatic Adjustments 541

18 Open-Economy Macroeconomics: Adjustment Policies 573

19 Prices and Output in an Open Economy: Aggregate Demand and Aggregate Supply 617

20 Flexible versus Fixed Exchange Rates, the European Monetary System, and Macroeconomic Policy Coordination 645

21 The International Monetary System: Past, Present, and Future 687

Glossary of Key Terms 729

Name Index 743

Subject Index 751

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