The International Economy

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This text is a rigorous introduction to international economics for upper-level undergraduates and above." "This fourth edition retains the strategy and structure of the previous edition but has many new features. It assesses the outcome of the Uruguay Round to trade negotiations, the work of the new World Trade Organization (WTO), and the challenges posed by regional trade blocs. It surveys recent theoretical work on currency crises, examines recent crises in emerging-market countries and the role of the ...
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Overview

This text is a rigorous introduction to international economics for upper-level undergraduates and above." "This fourth edition retains the strategy and structure of the previous edition but has many new features. It assesses the outcome of the Uruguay Round to trade negotiations, the work of the new World Trade Organization (WTO), and the challenges posed by regional trade blocs. It surveys recent theoretical work on currency crises, examines recent crises in emerging-market countries and the role of the International Monetary Fund (IMF), and appraises innovations in exchange-rate arrangements, including the EMU and the use of currency boards. A problem set follows each chapter.
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Editorial Reviews

Booknews
New edition of a standard textbook for undergraduates. Annotation c. Book News, Inc., Portland, OR (booknews.com)
From the Publisher
'This book fills a very real gap: a textbook of more rigor than the leading undergraduate textbooks, while at the same time written in a clear, understandable style. Better than any other textbook I know, this work provides the student with a knowledgeable basis for setting textbook analysis in the context of the messy real world of political economy. It is appropriate for good, well-trained, relatively sophisticated undergraduate economics majors and for introductory graduate-level courses.' Polly Reynolds Allen, University of Connecticut

'This is a textbook rich in policy and institutional detail, yet rigorous in its exposition of economic ideas. Students will love the real-world orientation, while their professors will appreciate the no-nonsense approach to theory. Just as the author himself, this text is unsurpassed in erudition, wisdom, and practical insights.' Dani Rodrik, Kennedy School, Harvard University

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Product Details

  • ISBN-13: 9780134729114
  • Publisher: Prentice Hall Professional Technical Reference
  • Publication date: 1/28/1989
  • Edition description: 2nd ed
  • Edition number: 2
  • Pages: 5120

Table of Contents

Preface
Pt. 1 Introduction
1 The Nation as an Economic Unit 3
Pt. 2 International Trade Theory and Policy
2 Comparative Advantage and the Gains from Trade 19
3 Economic Efficiency and Comparative Advantage 45
4 Factor Endowments and Comparative Advantage 63
5 Factor Substitution and a Modified Ricardian Model 83
6 Factor Substitution and the Heckscher-Ohlin Model 103
7 Imperfect Competition and International Trade 126
8 Trade and Factor Movements 148
9 Instruments and Uses of Trade Policy 175
10 The Evolution of Trade Policy 208
11 The Future of the Trading System 238
Pt. 3 International Monetary Theory and Policy
12 The Balance of Payments and the Foreign-Exchange Market 275
13 Incomes and the Current Account 301
14 Exchange Rates and the Current Account 322
15 Interest Rates and the Capital Account 345
16 Expectations, Exchange Rates, and the Capital Account 366
17 Stocks, Flows, and Monetary Equilibrium 392
18 Asset Markets, Exchange Rates, and Economic Policy 416
19 The Evolution of the Monetary System 444
20 The Future of the Monetary System 493
App. A Mathematical Notes on Trade Theory and Policy 541
App. B Mathematical Notes on Monetary Theory and Policy 553
App. C Outlines of Answers to Selected Problems 564
List of Abbreviations 588
Index 591
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