Ideal for a one-semester course in international economics, this book is accessible to those within and outside of economics programs.

In the present text the author deals with both conventional and new approaches to trade theory and policy, treating all important research topics in international economics and clarifying their mathematical intricacies. The textbook is intended for undergraduates, graduates and researchers alike. It addresses undergraduate students with extremely clear language and illustrations, making even the most complex trade models accessible. In the appendices, graduate students and researchers will find self-contained treatments in mathematical terms. The new edition has been thoroughly revised and updated to reflect the latest research on international trade.

This book adopts a nontechnical approach to explaining the basis for trade between countries and the role of firms in global trade and describes the effect of tariffs and fluctuations in exchange rates on a company's sales, costs, and profits The study of international economics has never been more vital than it is today. The past global financial crisis, the economic uncertainty in many advanced countries, increasing barriers to international trade, and currency crises have created challenges for both policy makers and corporate decision makers involved in international trade and finance. This book provides a concise and rigorous approach to the understanding of international trade and finance without relying on mathematical models or graphs. It explains the basis and pattern of trade, the effects of trade and trade policies on companies, national welfare, and the global economy. It explains the determination and changes in exchange rates. Finally, it describes the operation of the economy and examines the impact of national economic policies on the domestic economy and the rest of the world. Corporate managers and MBA students must learn the complex interrelationships between trade policies; the actions of central banks; and changes in government spending and taxes on interest rates, prices, exchange rates, and economic activity. This book adopts a nontechnical approach to explaining the basis for trade between countries and the role of firms in global trade and describes the effect of tariffs and fluctuations in exchange rates on a company's sales, costs, and profits.

Covering the conventional areas of international economics, this edition provides the blend of events and analysis to help readers understand global economic developments and to evaluate proposals for changes in economic policies. It combines economic analysis with attention to the issues of economic policy that are important.

In this timely volume emanating from the National Bureau of Economic Research's program in international economics, leading economists address recent developments in three important areas. The first section of the book focuses on international comparisons of output and prices, and includes papers that present new measures of product market integration, new methodology to infer relative factor price changes from quantitative data, and an ongoing capital stock measurement project. The next section features articles on international trade, including such significant issues as deterring child labor exploitation in developing countries, exchange rate regimes, and mapping U. S. comparative advantage across various factors. The book concludes with research on multinational corporations and includes a discussion of the long-debated issue of whether growth of production abroad substitutes for or is complementary to production growth at home. The papers in the volume are dedicated to Robert E. Lipsey, who for more than a half century at the NBER, contributed significantly to the broad field of empirical international economics.

Now in its third edition, this textbook covers all of the standard topics taught in undergraduate International Economics courses. However, the book is unique in that it presents the key orthodox neoclassical models of international trade and investment, whilst supplementing them with a variety of heterodox approaches. This pluralist approach is intended to give economics students a more realistic understanding of the international economy than standard textbooks can provide.