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International Economics, 13th Edition provides students with a comprehensive, up-to-date review of the field’s essential principles and theory. This comprehensive textbook explains the concepts necessary to understand, evaluate, and address the economic problems and issues the nations of the world are currently facing, and are likely to face in the future. Balancing depth and accessibility, the text helps students identify the real-world relevance of the material through extensive practical applications and examples.
The new, thoroughly-updated and expanded edition provides students with a solid knowledgebase in international trade theory and policy, balance of payments, foreign exchange markets and exchange rates, open-economy macroeconomics, and the international monetary system. The text uniquely employs the same graphical and numerical model in chapters that cover the same basic concept, allowing students to recognize the relationship among the different topics without having to start with a new example each time.
Clear, straightforward discussions of each key concept and theory are complemented by concrete, accessible, and relatable examples that serve to strengthen student comprehension and retention. Topics include the ‘Great Recession,’ the increase in trade protectionism, excessive volatility and large misalignments of exchange rates, and the impacts of resource scarcity and climate change to continued growth and sustainable development.
Annað
- Höfundur: Dominick Salvatore
- Útgáfa:13
- Útgáfudagur: 2019-11-19
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- Hægt að afrita 2 bls.
- Format:ePub
- ISBN 13: 9781119674177
- Print ISBN: 9781119667520
- ISBN 10: 1119674174
Efnisyfirlit
- Cover
- Preface
- Case Studies
- Chapter 1: Introduction
- 1.1 The Globalization of the World Economy
- 1.2 International Trade and the Nation’s Standard of Living
- 1.3 The International Flow of Goods, Services, Labor, and Capital
- 1.4 International Economic Theories and Policies
- 1.5 Current International Economic Problems and Challenges
- 1.6 Organization and Methodology of the Text
- Summary
- Key Terms
- Questions For Review
- Problems
- Appendix
- Part 1: International Trade Theory
- Chapter 2: The Law of Comparative Advantage
- 2.1 Introduction
- 2.2 The Mercantilists’ Views on Trade
- 2.3 Trade Based on Absolute Advantage: Adam Smith
- 2.4 Trade Based on Comparative Advantage: David Ricardo
- 2.5 Comparative Advantage and Opportunity Costs
- 2.6 The Basis for and the Gains from Trade under Constant Costs
- 2.7 Empirical Tests of the Ricardian Model
- Summary
- Key Terms
- Questions For Review
- Problems
- Appendix
- Chapter 3: The Standard Theory of International Trade
- 3.1 Introduction
- 3.2 The Production Frontier with Increasing Costs
- 3.3 Community Indifference Curves
- 3.4 Equilibrium in Isolation
- 3.5 The Basis for and the Gains from Trade with Increasing Costs
- 3.6 Trade Based on Differences in Tastes
- Summary
- Key Terms
- Questions For Review
- Problems
- Appendix
- Chapter 4: Demand and Supply, Offer Curves, and the Terms of Trade
- 4.1 Introduction
- 4.2 The Equilibrium-Relative Commodity Price with Trade—Partial Equilibrium Analysis
- 4.3 Offer Curves
- 4.4 The Equilibrium-Relative Commodity Price with Trade—General Equilibrium Analysis
- 4.5 Relationship Between General and Partial Equilibrium Analyses
- 4.6 The Terms of Trade
- Summary
- Key Terms
- Questions For Review
- Problems
- Appendix
- Chapter 5: Factor Endowments and the Heckscher–Ohlin Theory
- 5.1 Introduction
- 5.2 Assumptions of the Theory
- 5.3 Factor Intensity, Factor Abundance, and the Shape of the Production Frontier
- 5.4 Factor Endowments and the Heckscher–Ohlin Theory
- 5.5 Factor–Price Equalization and Income Distribution
- 5.6 Empirical Tests of the Heckscher–Ohlin Model
- Summary
- Key Terms
- Questions For Review
- Problems
- Appendix
- Chapter 6: Economies of Scale, Imperfect Competition, and International Trade
- 6.1 Introduction
- 6.2 The Heckscher–Ohlin Model and New Trade Theories
- 6.3 Economies of Scale and International Trade
- 6.4 Imperfect Competition and International Trade
- 6.5 Trade Based on Dynamic Technological Differences
- 6.6 Costs of Transportation, Environmental Standards, and International Trade
- Summary
- Key Terms
- Questions For Review
- Problems
- Appendix
- Chapter 7: Economic Growth and International Trade
- 7.1 Introduction
- 7.2 Growth of Factors of Production
- 7.3 Technical Progress
- 7.4 Growth and Trade: The Small-Country Case
- 7.5 Growth and Trade: The Large-Country Case
- 7.6 Growth, Change in Tastes, and Trade in Both Nations
- Summary
- Key Terms
- Questions For Review
- Problems
- Appendix
- Chapter 2: The Law of Comparative Advantage
- Chapter 8: Trade Restrictions
- 8.1 Introduction
- 8.2 Partial Equilibrium Analysis of a Tariff
- 8.3 The Theory of Tariff Structure
- 8.4 General Equilibrium Analysis of a Tariff in a Small Country
- 8.5 General Equilibrium Analysis of a Tariff in a Large Country
- 8.6 The Optimum Tariff
- Summary
- Key Terms
- Questions For Review
- Problems
- Appendix
- Chapter 9: Nontariff Trade Barriers and the New Protectionism
- 9.1 Introduction
- 9.2 Import Quotas
- 9.3 Other Nontariff Barriers and the New Protectionism
- 9.4 The Political Economy of Protectionism
- 9.5 Strategic Trade and Industrial Policies
- 9.6 History of U.S. Commercial Policy
- 9.7 The Uruguay Round, the Failed Doha Round, and the Outstanding Trade Problems
- Summary
- Key Terms
- Questions For Review
- Problems
- Appendix
- Chapter 10: Economic Integration: Customs Unions and Free Trade Areas
- 10.1 Introduction
- 10.2 Trade-Creating Customs Union
- 10.3 Trade-Diverting Customs Unions
- 10.4 The Theory of the Second Best and Other Static Welfare Effects of Customs Unions
- 10.5 Dynamic Benefits from Customs Unions
- 10.6 History of Attempts at Economic Integration
- Summary
- Key Terms
- Questions For Review
- Problems
- Appendix
- Chapter 11: International Trade and Economic Development
- 11.1 Introduction
- 11.2 The Importance of Trade to Development
- 11.3 The Terms of Trade and Economic Development
- 11.4 Export Instability and Economic Development
- 11.5 Import Substitution versus Export Orientation
- 11.6 Current Problems Facing Developing Countries
- Summary
- Key Terms
- Questions For Review
- Problems
- Appendix
- Chapter 12: International Resource Movements and Multinational Corporations
- 12.1 Introduction
- 12.2 Some Data on International Capital Flows
- 12.3 Motives for International Capital Flows
- 12.4 Welfare Effects of International Capital Flows
- 12.5 Multinational Corporations
- 12.6 Motives for and Welfare Effects of International Labor Migration
- Summary
- Key Terms
- Questions For Review
- Problems
- Appendix
- Chapter 13: Balance of Payments
- 13.1 Introduction
- 13.2 Balance of Payments Accounting
- 13.3 The International Transactions of the United States
- 13.4 Accounting Balances and the U.S. Balance of Payments
- 13.5 The Postwar Balance of Payments of the United States
- 13.6 The Importance of the Current Account
- 13.7 The International Investment Position of the United States
- Summary
- Key Terms
- Questions For Review
- Problems
- Appendix
- Chapter 14: Foreign Exchange Markets and Exchange Rates
- 14.1 Introduction
- 14.2 Functions of the Foreign Exchange Markets
- 14.3 Foreign Exchange Rates
- 14.4 Spot and Forward Rates, Currency Swaps, Futures, and Options
- 14.5 Foreign Exchange Risks, Hedging, and Speculation
- 14.6 Interest Arbitrage and the Efficiency of Foreign Exchange Markets
- 14.7 Eurocurrency or Offshore Financial Markets
- Summary
- Key Terms
- Questions For Review
- Problems
- Appendix
- Chapter 15: Exchange Rate Determination
- 15.1 Introduction
- 15.2 Purchasing-Power Parity Theory
- 15.3 Monetary Approach to the Balance of Payments and Exchange Rates
- 15.4 Portfolio Balance Model and Exchange Rates
- 15.5 Exchange Rate Dynamics
- 15.6 Empirical Tests of the Monetary and Portfolio Balance Models and Exchange Rate Forecasting*
- Summary
- Key Terms
- Questions For Review
- Problems
- Appendix
- Chapter 16: The Price Adjustment Mechanism with Flexible and Fixed Exchange Rates
- 16.1 Introduction
- 16.2 Adjustment with Flexible Exchange Rates
- 16.3 Effect of Exchange Rate Changes on Domestic Prices and the Terms of Trade
- 16.4 Stability of Foreign Exchange Markets
- 16.5 Elasticities in the Real World
- 16.6 Adjustment under the Gold Standard
- Summary
- Key Terms
- Questions For Review
- Problems
- Appendix
- Chapter 17: The Income Adjustment Mechanism and Synthesis of Automatic Adjustments
- 17.1 Introduction
- 17.2 Income Determination in a Closed Economy
- 17.3 Income Determination in a Small Open Economy
- 17.4 Foreign Repercussions
- 17.5 Absorption Approach
- 17.6 Monetary Adjustments and Synthesis of the Automatic Adjustments
- Summary
- Key Terms
- Questions For Review
- Problems
- Appendix
- Chapter 18: Open-Economy Macroeconomics: Adjustment Policies
- 18.1 Introduction
- 18.2 Internal and External Balance with Expenditure-Changing and Expenditure-Switching Policies
- 18.3 Equilibrium in the Goods Market, in the Money Market, and in the Balance of Payments
- 18.4 Fiscal and Monetary Policies for Internal and External Balance with Fixed Exchange Rates
- 18.5 The IS–LM–BP Model with Flexible Exchange Rates
- 18.6 Policy Mix and Price Changes
- 18.7 Direct Controls
- Summary
- Key Terms
- Questions For Review
- Problems
- Appendix
- Chapter 19: Prices and Output in an Open Economy: Aggregate Demand and Aggregate Supply
- 19.1 Introduction
- 19.2 Aggregate Demand, Aggregate Supply, and Equilibrium in a Closed Economy
- 19.3 Aggregate Demand in an Open Economy Under Fixed and Flexible Exchange Rates
- 19.4 Effect of Economic Shocks and Macroeconomic Policies on Aggregate Demand in Open Economies with Flexible Prices
- 19.5 Effect of Fiscal and Monetary Policies in Open Economies with Flexible Prices
- 19.6 Macroeconomic Policies to Stimulate Growth and Adjust to Supply Shocks
- Summary
- Key Terms
- Questions For Review
- Problems
- Chapter 20: Flexible versus Fixed Exchange Rates, the European Monetary System, and Macroeconomic Policy Coordination
- 20.1 Introduction
- 20.2 The Case for Flexible Exchange Rates
- 20.3 The Case for Fixed Exchange Rates
- 20.4 Optimum Currency Areas, the European Monetary System, and the European Monetary Union
- 20.5 Currency Boards Arrangements and Dollarization
- 20.6 Exchange Rate Bands, Adjustable Pegs, Crawling Pegs, and Managed Floating
- 20.7 International Macroeconomic Policy Coordination
- Summary
- Key Terms
- Questions For Review
- Problems
- Appendix
- Chapter 21: The International Monetary System: Past, Present, and Future
- 21.1 Introduction
- 21.2 The Gold Standard and the Interwar Experience
- 21.3 The Bretton Woods System
- 21.4 Operation and Evolution of the Bretton Woods System
- 21.5 U.S. Balance-of-Payments Deficits and Collapse of the Bretton Woods System
- 21.6 The International Monetary System: Present and Future
- Summary
- Key Terms
- Questions For Review
- Problems
- Appendix
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- Gerð : 208
- Höfundur : 15465
- Útgáfuár : 2019
- Leyfi : 380