1. Introduction: An Overview of the World Economy.
2. Why Countries Trade.
3. Factor Endowments and the Commodity Composition of Trade.
4. Intraindustry Trade.
5. International Factor Movements.
7. Nontariff Distortions to Trade.
8. International Trade Policy.
9. Regional Economic Agreements.
10. International Trade and Economic Growth.
11. National Income Accounting and the Balance of Payments.
12.International Transactions and Financial Markets.
13. Exchange Rates and Their Determination: A Basic Model.
14. Money, Interest Rates, and the Exchange Rate.
15. Price Levels and the Exchange Rate in the Long Run.
16. Output and the Exchange Rate in the Short Run.
17. Macroeconomic Policy and Floating Exchange Rates.
18. Fixed Exchange Rates and Currency Unions.
19. International Monetary Arrangements.
20. Capital Flows and the Developing Countries.