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Nobel Prize-winning economist Paul Krugman and renowned researcher Maurice Obstfeld set the standard for international economics courses with the text that remains the market leader in the U.S. and around the world.
International Economics: Theory and Policy is a proven approach in which each half of the book leads with an intuitive introduction to theory and follows with self-contained chapters to cover key policy applications. The Eighth Edition integrates the latest research, data, and policy in hot topics such as outsourcing, economic geography, trade and environment, financial derivatives, the subprime crisis, and China`s exchange rate policies.
Table of Content
Chapter 1. Introduction
Part I. International Trade Theory
Chapter 2. Labor Productivity and Comparative Advantage: The Ricardian Model
Chapter 3. Resources, Comparative Advantage, and Income Distribution
Chapter 4. The Standard Trade Model
Chapter 5. Economies of Scale, Imperfect Competition, and International Trade
Chapter 6. International Factor Movements
Part II. International Trade Policy
Chapter 7. The Instruments of Trade Policy
Chapter 8. The Political Economy of Trade Policy
Chapter 9. Trade Policy in Developing Countries
Part III. Exchange Rates and Open-Economy Macroeconomics
Chapter 10. National Income Accounting and the Balance of Payments
Chapter 11. Exchange Rates and the Foreign Exchange Market: An Asset Approach
Chapter 12. Money, Interest Rates, and Exchange Rates
Chapter 13. Price Levels and the Exchange Rate in the Long Run
Chapter 14. Output and the Exchange Rate in the Short Run
Appendix 1: Intertemporal Trade and Consumption Demand
Appendix 2: The Marhsall-Lerner Condition and Empirical Estimates of Trade Elasticities
Chapter 15. Fixed Exchange Rates and Foreign Exchange Intervention
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 16. The International Monetary System, 1870-1973
Chapter 17. Macroeconomic Policy and Coordination Under Floating Exchange Rates
Appendix: International Policy Coordination Failures
Chapter 18. Optimum Currency Areas and the European Experience
Chapter 19. The Global Capital Market: Performance and Policy Problems
Chapter 20. Developing Countries: Growth, Crisis, and Reform
Salient Features
•The book is divided into trade and finance. Within each half, core theory chapters are followed by a series of application chapters that confront policy questions using the newest empirical work, data, and policy debates.
•Coverage of international trade features:
? ?An integrated treatment and empirical evidence of the latest models of trade, such as the gravity, Ricardian, factor endowments, and imperfect competition models.
? ?A thorough discussion of the causes and effects of trade policy focuses on the income-distribution effects of trade.
? ?An emphasis on the potential substitutability of international trade and international movements of factors of production in Chapter 7, featuring an analysis of international borrowing and lending as intertemporal trade—the exchange of present consumption for future consumption.
•Coverage of international finance includes:
? ?A unified model of open-economy macroeconomics that provides students with a cohesive approach to the theory, based on an asset-market approach to exchange rate determination with a central role for expectations.
? ?A discussion of the international monetary experience that stresses the idea that different exchange rate systems lead to different policy coordination problems.
•Tools to help students master the material include the following:
?Learning Goals begin each chapter and list the essential concepts so students understand what they need to take away from each chapter.
? ?Case Studies illustrate theory using real-world applications and provide important historical context.
? ?Special Boxes offer vivid illustrations of points made in the text. Topics include the political backdrops of Ricardo`s and Hume`s theories; the story of Bolivian hyperinflation; and adjustments to asymmetric shocks.
? ?End-of-chapter Problems, many of which cite real data or policies, range from routine computational drills to more analytical questions and problems. New for the Eighth Edition, all end-of-chapter problems are included in MyEconLab so that instructors can assign homework without needing to grade students` work by hand.
? ?Further Reading sections end each chapter, providing annotated bibliographies of both seminal works and recent articles to make it easier to develop course syllabi and encourage students to explore the material. ISBN - 9789332518230
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Pages : 690
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