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Prentice Hall
International Economics: Theory and Policy plus MyEconLab Student Access Kit / Edition 8

International Economics: Theory and Policy plus MyEconLab Student Access Kit / Edition 8

by Paul Krugman, Maurice Obstfeld

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International Economics: Theory and Policy plus MyEconLab Student Access Kit / Edition 8

International Economics captures the vitality of modern international trade and finance. A classic book by world-renowned authors, the Seventh Edition is comprehensively revised and updated in a new, full-color format. Each half of the book contains a core of theory chapters followed by chapters applying the theory to major policy questions of the past and present.

Product Details

ISBN-13: 9780138002121
Publisher: Prentice Hall
Publication date: 07/22/2009
Edition description: Older Edition
Pages: 712
Product dimensions: 8.20(w) x 10.20(h) x 1.30(d)

Table of Contents

Chapter 1. Introduction
What Is International Economics About?
International Economics: Trade and Money

Part I. International Trade Theory

Chapter 2. World Trade: An Overview
Who Trades with Whom?
The Changing Pattern of World Trade Do Old Rules Still Apply?

Chapter 3. Labor Productivity and Comparative Advantage: The Ricardian Model
The Concept of Comparative Advantage A One-Factor Economy Trade in a One-Factor World Misconceptions About Comparative Advantage Comparative Advantage with Many Goods Adding Transport Costs and Nontraded Goods Empirical Evidence on the Ricardian Model

Chapter 4. Resources, Comparative Advantage, and Income Distribution
A Model of a Two-Factor Economy Effects of International Trade Between Two-Factor Economies The Political Economy of Trade: A Preliminary View Empirical Evidence on the Heckscher-Ohlin Model
Appendix: Factor Prices, Goods Prices, and Input Choices

Chapter 5. The Standard Trade Model
A Standard Model of a Trading Economy International Transfers of Income: Shifting of the RD Curve Tariffs and Export Subsidies: Simultaneous Shifts in RS and RD
Appendix: Representing International Equilibrium with Other Curves

Chapter 6. Economies of Scale, Imperfect Competition, and International Trade
Economies of Scale and International Trade: An Overview Economies of Scale and Market Structure The Theory of Imperfect Competition Monopolistic Competition and Trade Dumping The Theory of External Economies External Economies and International Trade Economic Geography and Interregional Trade
Appendix: Determining Marginal Revenue

Chapter 7. International Factor Movements
International Labor Mobility International Borrowing and Lending Direct Foreign Investment and Multinational Firms
Appendix 1: Finding Total Output from the Marginal Product Curve
Appendix 2: More on Intertemporal Trade

Part II. International Trade Policy

Chapter 8. The Instruments of Trade Policy
Basic Tariff Analysis Costs and Benefits of a Tariff Other Instruments of Trade Policy The Effects of Trade Policy: A Summary
Appendix 1: Tariff Analysis in General Equilibrium
Appendix 2: Tariffs and Import Quotas in the Presence of Monopoly

Chapter 9. The Political Economy of Trade Policy
The Case for Free Trade National Welfare Arguments Against Free Trade Income Distribution and Trade Policy International Negotiations and Trade Policy The Doha Disappointment
Appendix: Proving That the Optimum Tariff Is Positive

Chapter 10. Trade Policy in Developing Countries
Import-Substituting Industrialization Results of Favoring Manufacturing: Problems of Import-Substituting Industrialization Trade Liberalization Since 1985
Export-Oriented Industrialization: The East Asian Miracle

Chapter 11. Controversies in Trade Policy
Sophisticated Arguments for Activist Trade Policy Globalization and Low-Wage Labor Globalization and the Environment

Part III. Exchange Rates and Open-Economy Macroeconomics

Chapter 12. National Income Accounting and the Balance of Payments
The National Income Accounts National Income Accounting for an Open Economy The Balance of Payments Accounts

Chapter 13. Exchange Rates and the Foreign Exchange Market: An Asset Approach
Exchange Rates and International Transactions The Foreign Exchange Market The Demand for Foreign Currency Assets Equilibrium in the Foreign Exchange Market Interest Rates, Expectations, and Equilibrium
Appendix: Forward Exchange Rates and Covered Interest Parity

Chapter 14. Money, Interest Rates, and Exchange Rates
Money Defined: A Brief Review The Demand for Money by Individuals Aggregate Money Demand The Equilibrium Interest Rate: The Interaction of Money Supply and Demand The Money Supply and the Exchange Rate in the Short Run Money, the Price Level, and the Exchange Rate in the Long Run Inflation and Exchange Rate Dynamics

Chapter 15. Price Levels and the Exchange Rate in the Long Run
The Law of One Price Purchasing Power Parity A Long-Run Exchange Rate Model Based on PPP Empirical Evidence on PPP and the Law of One Price Explaining the Problems with PPP Beyond Purchasing Power Parity: A General Model of Long-Run Exchange Rates International Interest Rate Differences and the Real Exchange Rate Real Interest Parity
Appendix: The Fisher Effect, the Interest Rate, and the Exchange Rate Under the Flexible-Price Monetary Approach

Chapter 16. Output and the Exchange Rate in the Short Run
Determinants of Aggregate Demand in an Open Economy The Equation of Aggregate Demand How Output Is Determined in the Short Run Output Market Equilibrium in the Short Run: The DD Schedule Asset Market Equilibrium in the Short Run: The AA Schedule Short-Run Equilibrium for an Open Economy: Putting the DD and AA Schedules Together Temporary Changes in Monetary and Fiscal Policy Inflation Bias and Other Problems of Policy Formulation Permanent Shifts in Monetary and Fiscal Policy Macroeconomic Policies and the Current Account Gradual Trade Flow Adjustments and Current Account Dynamics
Appendix 1: Intertemporal Trade and Consumption Demand
Appendix 2: The Marhsall-Lerner Condition and Empirical Estimates of Trade Elasticities

Chapter 17. Fixed Exchange Rates and Foreign Exchange Intervention
Why Study Fixed Exchange Rates?
Central Bank Intervention and the Money Supply How the Central Bank Fixes the Exchange Rate Stabilization Policies with a Fixed Exchange Rate Balance of Payments Crises and Capital Flight Managed Floating and Sterilized Intervention Reserve Currencies in the World Monetary System The Gold Standard
Appendix 1: Equilibrium in the Foreign Exchange Market with Imperfect Asset Substitutability
Appendix 2: The Timing of Balance of Payments Crises

Part IV. International Macroeconomic Policy

Chapter 18. The International Monetary System, 1870—1973
The Interwar Years, 1918—1939
The Bretton Woods System and the International Monetary Fund Analyzing Policy Options Under the Bretton Woods System The External Balance Problem of the United States Worldwide Inflation and the Transition to Floating Rates

Chapter 19. Macroeconomic Policy and Coordination Under Floating Exchange Rates
The Case for Floating Exchange Rates The Case Against Floating Exchange Rates Macroeconomic Interdependence Under a Floating Rate What Has Been Learned Since 1973?
Are Fixed Exchange Rates Even an Option for Most Countries?
Directions for Reform
Appendix: International Policy Coordination Failures

Chapter 20. Optimum Currency Areas and the European Experience
How the European Single Currency Evolved The Euro and Economic Policy in the Euro Zone The Theory of Optimum Currency Areas The Future of EMU

Chapter 21. The Global Capital Market: Performance and Policy Problems
The International Capital Market and the Gains from Trade International Banking and the International Capital Market Regulating International Banking

Chapter 22. Developing Countries: Growth, Crisis, and Reform
Income, Wealth, and Growth in the World Economy Structural Features of Developing Countries Developing-Country Borrowing and Debt East Asia: Success and Crisis Lessons of Developing-Country Crises Reforming the World’s Financial “Architecture”
Understanding Global Capital Flows and the Global Distribution of Income: Is Geography Destiny?

Mathematical Postscripts

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